From College News - We must handle credit cards responsibly to develop good credit history, the National Foundation for Credit Counseling says

Most college students get their first credit card sometime during their college career. But not understanding how credit card companies work and how to pay you bill correctly every month can cause you to fall into a lot of debt and develop an awful credit history.

Thankfully, the credit card reform bill signed into law last year prohibits lenders from issuing cards to individuals under 21 unless they can prove they can make payments or get a parent or guardian to co-sign. The provision took effect Feb. 22, so when college starts this fall, students won’t be greeted by solicitations from credit card issuers, according to a money blog by Sandra Block on USA Today.

Young adults who graduate college without a positive credit history could have a hard time qualifying for a car loan, renting an apartment, even getting a job, Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling, told Block in the article.

You might opt to get a debit card, but then you’ll fail to acquire the necessary good credit history for the future. The key is it to get a credit card, but understand how it works and handle it responsibly, the National Foundation for Credit Counseling suggests.