| simba raises an interesting issue.
These days, one needs to shop for a card very carefully. Between short grace periods, punitive late fees, high interest rates for even one late payment, etc., many cards have real traps.
I don't know that a freshman needs to worry about building a credit history. Heck, I'm not so sure a senior needs to worry about it too much, given all the new grad programs etc., not to mention the ever present option of a parental co-signer. Besides, building a credit history is only a good thing if it is a GOOD credit history. Do you want to gamble that a kid starting out college has the discipline to get those bills payed on time AND get good grades AND have fun AND...? Just remember, each late payment (only one day, with a short grace period) will be reported by these cards.
Emergencies? Different story. I had my D issued a card on my main account. I trust her enough to tell me right away if she loses the card and not make charges without permission. |