Hot Topics in Personal Finance
This time of year, many parents are thinking about giving their college-bound children a credit or debit card to help pay for living expenses. Once they get to campus, many students may be shocked at the costs they encounter and be tempted to open their own credit card accounts. For these young consumers and their families, abiding by a few simple rules could help them avoid costly headaches down the road.
Good credit is important; a bad credit history can impact your ability to get loans, housing, or even a job. But while promises to “fix” bad credit may be tempting, they’re not true – and they may leave you in worse financial shape than when you started.