If theyÔÇÖre ready for it, every student should have their own card.
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Credit cards offer your child a chance to learn the importance of financial education and freedom. Here are some of the top reasons why students benefit from having a credit card.
1. Credit cards can help establish a credit history.
2. Credit cards help students build a good credit score, which can give them the opportunity to take out loans, rent an apartment and much more.
3. Credit scores are reviewed for car and student loans, future mortgages and apartment rentals.
4. Credit cards can help students learn to become more fiscally responsible and manage their money better.
5.┬áSome credit cards have fraud protection so cardholders will never be responsible for unauthorized purchases.
6.┬áSome credit cards also offer extended warranties and other protections.
7. Many common services such as hotel bookings and car rentals require a credit authorization.
8. Unexpected accidents and emergencies can happen.
9.┬áCredit cards offer ease and convenience when paying for purchases.
10. Credit cards for students offer rewards like cash back, which can be used to help with bills, books and food.
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