Students gets some coaching to tackle credit card concerns

Rachel Wikoff received a credit card offer in the mail and signed up, intent on building up her credit rating.
The recent UC Davis graduate thought she was being careful. She set up automatic payment through her bank account, always paying more than the minimum amount.

Research Pinpoints Financial Literacy as Key to Preventing Student Credit Card Debt

Millions of Americans struggle with credit card debt-and college students are no exception, according to a recent study by a Buffalo State College researcher that points to a general lack of financial literacy as the No. 1 reason.
Look into the purse or pocket of any college student and research indicates that you will find an [...]

That first credit step can be a doozy, so do it right

So, your college student finally needs a credit card and, wisely, you want to make sure she gets a great deal and avoids falling into traps.
Alas, all too often, young adults stumble at the start. They succumb to the free Frisbee or T-shirt come-on and choose a card with high annual fees. Then they get [...]

Is my child ready for a credit card?

As we head into holiday shopping season, you may notice that some of your favorite toys have a new plastic version — credit and debit cards. The classic Monopoly game now comes with a debit card instead of all those little bills. Barbie has her own credit card in an electronic purse. There’s even a [...]

Lawmakers to review B of A pitch

Iowa legislators will be investigating the state universities’ promotion of Bank of America credit cards.
The Joint Legislative Oversight Committee will hold hearings Oct. 29-30 on the schools’ marketing of university-themed credit cards to students. The Des Moines Register earlier this week, reported that the cards raise millions of dollars for the schools’ privately run alumni [...]

Allowance Tips: Good Money Management Begins with an Allowance

Brought to you by the National PTA®.
The best tool parents have for teaching financial responsibility is an allowance. Even very young children should have discretionary funds to spend as they see fit. Saving, decision-making, planning, sharing, charity, and responsibility are just some of the lessons that can be taught through an allowance.

Put the names of the children on the credit cards but don’t give the kid a card or tell him or her

Parents with a good credit rating who want to give young adults a “boost” with their credit rating can put the names of their children on their credit cards as authorized users when they are young so that they will already have a good credit history when they go to get their first car loans, [...]

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