Teens, Young Adults, and Credit


Use the Web to Take Charge of Your Credit

We use credit to make many substantial business deals, such as buying a home or car, or obtaining a loan. Other times, we simply want to use a credit card to make our daily lives a little easier. Whether you want to learn how to select the right credit card, protect yourself from identity theft, or learn how your credit score affects the loans you receive, the Web can serve as your guide to understanding, establishing, and maintaining good credit. For a Spanish-language version of the Guide, click here.

What is Credit?

The credit card industry mailed more than six billion credit card offers to households during 2005. ... read more »

Finding and Improving Your Credit Score

Your credit score can have an impact on many aspects of your financial life, perhaps none more ... read more »

Choosing the Right Credit Card

There are credit cards to suit a unique array of personal needs. Flight miles, cash-back rewards, ... read more »

Credit Card Debt

If you're even asking this question, the answer is probably yes. In fact, because credit card debt ... read more »

Teens, Young Adults, and Credit

Approximately 83 percent of undergraduate college students possessed at least one credit card in 2001, according to student loan service company Nellie Mae. With credit card use spreading among young people, the importance of understanding credit and its effects on finances is paramount. The Web has helpful information for young adults who need to establish and maintain good credit, and for parents on how to get their children started using credit responsibly.

Dulcinea's Insight

  • Many credit card companies offer free t-shirts or music downloads as incentives to apply for their credit cards. However, high interest rates or hidden fees that come with some cards are a poor exchange for the "freebies" you may find appealing. Instead of signing up based on impulse and enticement, use College Plastic, described below, and the sites in the "Choosing the Right Credit Card" section of this guide to make informed decisions on which cards to choose.
  • This article from MSN Money offers advice for parents who want to teach their teenagers how to use credit cards.

Dulcinea's Picks

For help deciding whether your child should have a credit card ...
For college students ...
For teenagers ...
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Protecting My Credit

With so many people using credit cards, credit card fraud has become a lucrative ... read more »

What is a Credit Union?

If interest rates are starting to look too intimidating, it might be time to consider a credit ... read more »

Home Equity Loans and Lines of Credit

Home equity lines of credit have much lower interest rates than credit cards and are more flexible ... read more »

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