Spring Break
Aggies charge ahead
Students opt for debit cards instead of cash, but others say credit cards are for after college
By: Madiha Rizvi
Issue date: 9/24/08 Section: News
"Once I graduate, I can get a credit to make those big purchases, like a house. At this time, college students are tempted to spend more money with a credit card," Danielle Spears, a freshman history major, said.
"As soon as I turned 18, there were offers for credit cards all the time," she said. "You have to really read the fine print so that you know what you are signing up for."
Aggieland Credit Union is a branch of Greater Texas Federal Credit Union and has three locations in the Bryan-College Station area. It is a full-service institution with loans for automobiles, property, students and credit cards, and banking options like checking and savings.
"All you need is five dollars in a savings account you open with us. Then you can apply for the credit card," Greg Baird, vice president of Aggieland Credit Union branches in Bryan-College Station, said. "We are very careful in verifying a student's ability to repay the bill. We require a cosigner for students who do not have any source of income. We are wanting to build a full relationship with the students."
Baird said that a big reason, students are afraid of credit cards is that there is some predatory lending for college students, where students can get in debt that they cannot repay.
"I have seen college students, literally over their heads in debt. If students learn to manage their money by budgeting, none of these problems would arise," Baird said. "Employers today are looking at credit reports for students before they hire them. Insurances are based on a credit score. If your track record is negative, it can have a very crippling effect. Budget and stick with it, the earlier the better."
"As soon as I turned 18, there were offers for credit cards all the time," she said. "You have to really read the fine print so that you know what you are signing up for."
Aggieland Credit Union is a branch of Greater Texas Federal Credit Union and has three locations in the Bryan-College Station area. It is a full-service institution with loans for automobiles, property, students and credit cards, and banking options like checking and savings.
"All you need is five dollars in a savings account you open with us. Then you can apply for the credit card," Greg Baird, vice president of Aggieland Credit Union branches in Bryan-College Station, said. "We are very careful in verifying a student's ability to repay the bill. We require a cosigner for students who do not have any source of income. We are wanting to build a full relationship with the students."
Baird said that a big reason, students are afraid of credit cards is that there is some predatory lending for college students, where students can get in debt that they cannot repay.
"I have seen college students, literally over their heads in debt. If students learn to manage their money by budgeting, none of these problems would arise," Baird said. "Employers today are looking at credit reports for students before they hire them. Insurances are based on a credit score. If your track record is negative, it can have a very crippling effect. Budget and stick with it, the earlier the better."
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