It won't be long before Ball State University students see the familiar on-campus scene of representatives offering a free pizza or T-shirt - with an accompanying offer for a special credit card.
These offers - and countless others - present a paradox for students: the struggle between risking debt with a credit card or purchasing with debit and cash to ensure finances stay in the black.
Ball State students need to be aware of the realities of debt, as well as the responsible use of credit for purchases.
If students are worried about how strong their credit is, there are several factors to consider. The best way for students to check on their credit status is with a credit report, which is available to everyone for free once a year. The report takes several factors into consideration and comes up with a final credit score. The score is then used as a measuring tool for how weak or strong a person's credit is - a valuable asset to those looking for car loans or home mortgages.
Credit scores tell the full story of credit, but building credit without accumulating debt is the main concern for most students.
With all credit cards, problems are inherent. Overspending, not paying bills on time and poor financial decisions can all contribute to debt and poor credit scores that can follow students far past their college days.
The easiest way to avoid problems and build good credit is with a credit account that is paid off in full at the end of each billing period. Students can also sign for small loans and pay them off immediately to show lending and credit institutions they can be responsible lendees.
All in all, credit cards and small loans offer a viable way for students to build the good credit they will need to procure loans for various needs after college. The real dangers of debt only come when students are irresponsible after getting a credit card or loan.
If you want to know how you shape up in creditors' eyes, a list of places to get free credit reports is available on page eight of today's Daily News.
Credit can be the bane of college students, but it doesn't have to be that way. Focus on building your credit score for the better now, before you have the chance to do irreparable damage.
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