Are you taking your student credit card debt lightly? The following points show
how seriously it can damage your student life. Take a look and get serious about
that student credit card debt.
Credit card debt affects the studies seriously. Lack of concentration,
focusing on excessive debts can lead to lower scores and GPA.
Lack of proper attention to studies, lower GPA's, increased debt pressure can
all lead to a point where student drops out from the college.
A high credit card debt can force a student to take up a part time or regular
job, which often has a degrading effect on studies.
Though the student credit card is designed to give a good beginning to a
person's credit history but, excessive debt can cause a serious dent to credit
score this factor alone can cause serious problems for students.
Due to a bad credit score which is the result of credit card debt, a student
can face difficulties in finding apartments for rent.
Same factor can make insurance rates higher or unaffordable for students,
because insurance companies find it risky to insure people with poor credit.
Getting a job also becomes difficult when a credit card debt causes poor
credit history. The employer also shy away from people with poor financial
skills and money management.
Huge amount of credit card debt in college can cause sore relationships. The
reason could be lack of money, lack of proper financial management, or simply
not being able to buy enough presents to your girlfriend.
Mental peace runs out of luck with huge financial burden hanging on your
head, constantly nagging you 24/7.
Last but not the least, huge credit card debts have propelled students into
anti social activities and trying out fraudulent means to get rich quick and
payout their credit card debt.
These points should ring the alarm bells for any student. Credit cards are
not for indulgence, they are there to provide monetary support during
emergencies and difficult situations, and should be treated as such.