Adjusting To College Life

The period of time where you enter college is sometimes a difficult one- especially

if you are going to college or attending a university that is far from home. If you are planning to go away to college, there are many things that you should keep in mind, but the most important is regarding your finances.

One day, while walking to class, there were a bunch of vendors who had set up stations outside of the college buildings. I noticed that there were a ton of other college kids milling around the vendors signing up for things and accepting what looked like gifts of t-shirts and other regalia. Interested, I walked over to one of the vendors. It turned out that they were giving away credit card applications for free, and in return for filling out a credit application, you received your choice of free gifts (depending on the vendor). The gifts at the time ranged anywhere from baseball caps to free t-shirts, pens and other items.

I figured that there was no harm in signing up for one of these cards. I already had one credit card that I had applied for and received right before I went away to college, so I assumed that there was no harm in adding a second one to my collection. After all, I wasn't planning on ever using it. The card that applied for that day (which will remain nameless) was not worth the aggravation and frustration that I later experienced several years later when I suddenly remembered that I had it and then tried to cancel it. I spent an hour on the phone with a representative from this credit company trying to cancel a credit card that I had never used nor wanted anymore. Suffice it to say that the conversation did not go well, and I ended up speaking to the telemarketing manager in charge.

One of the biggest mistakes that college kids make is opening up credit lines while in college. It is one thing to open up a credit card and actually use it and use it wisely (I.e. make your payments on time and in full). However, the vast majority of college enthusiasts who open up one of these cards the way that I did either forget that they've opened one up or open one up and run the credit up until they are put into a hairy predicament of not being able to afford their monthly payments. For me, I went into it with the wrong goals. The vendors dangled the free bait in front of my eyes, and all I saw was that I was getting a free t-shirt. I couldn't have cared less about the card. It wasn't until a couple of years later, well after I had moved on from college, that I received a bunch of forwarded mail from an old college address, the vast majority of it containing personal information related to a credit card application that I had opened.

by: David Williams 2

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