Students, before you go on a holiday shopping spree, here are some things to keep in mind. Department store charge/ credit cards may be alluring, but do not let their appearance and inital discount get the best of you. It may seem like a good investment at the time, but later on can become a financial nightmare. On the other hand, it is an appeal to the masses for economic encouragement. Further, the ramifications of overspending with these cards may lead to a web of credit card debt for most of your adult life. There are organizations, though, that can help you out, such as Consumer Action. Consumer Action is an online Web site that shows the consumerwhere to get free credit reports. This is also good for those who are in debt and need to clean up their financial records. Simply go to www.consumeraction. com.
To find out what is in your credit report, you can receive a copy of it from any or all of the three major credit reporting bureaus.
Companies charge up to $8 to get a copy. However, a credit bureau must give you a free copy if you have been turned down for credit, a job, insurance or a rental unit within the last 60 days because of information in its report. The company turning you down must tell you which of the bureaus furnished the report it used.
Finally there are all kinds of credit cards available for college students, so carefully examine them before choosing one. Just review the information and find the best card suited for your needs.