Should I Send My Kid to College With a Credit Card?
When it comes to building credit, it's best to start sooner rather than later. Sending a student off to college with a credit card is a good way to help them build credit. By the time they graduate, your kid will have four years of credit history, which will enable them to borrow on favorable terms to buy a home or car.
The upside is clear, but the disadvantages of helping your college student get a credit card are numerous.
The CARD Act of 2009 brought about many important changes to how cards can be marketed and who can apply. It took direct aim at card companies that marketed cards to college students, outlawing on-campus marketing practices and perks designed to lure college students to apply.
Source: Fool.com
