Hi all, I've been thinking about finances in college recently. Does anyone know what proportion of college undergraduates have at least one credit card? I'm not sure when I should start exploring that option and it'd be great to know what's typical.
Hey there! Some studies suggest that around a third of college students have a credit card, but this can vary widely based on the school and individual financial situations. Overall, it's quite common for students to have a credit card when they're in college.
Having a credit card can be a useful tool for building credit history and for emergencies, but it's also important to understand the responsibilities that come with it. To avoid falling into credit card debt, it's essential to pay off your balance in full each month.
You should start exploring getting a credit card when you feel ready to handle the responsibility. Just keep in mind that some companies require a co-signer if you're under 21 and don't have income, and some cards are designed particularly for college students with limited credit history.
Remember, every financial situation is unique so it's probably a good idea to discuss options with a trusted adult or financial advisor, too. Best of luck with your decision!
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