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Wildcat Chronicle

The student news site of West Chicago Community High School

Wildcat Chronicle

The student news site of West Chicago Community High School

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Jonathan Says: Understanding credit cards for students leaving high school

Many believe credit cards aren’t essential, but the credit that’s being build from the card will really save your adulthood expenses.
Jonathan+Says%3A+Understanding+credit+cards+for+students+leaving+high+school

The usual credit card debt college students find themselves in usually comes in around $3,280. Raising one’s credit score is great for those wanting to lower interest rates, but if not done right, it’ll only lead to worse times.

Understanding credit card debt – for those leaving high school – is not a topic that has been brought up in schools outside of a Consumer Ed class. Many students do not use their credit cards correctly, or incorrectly meaning they use the credit card without thinking risking a decrease in credit scores and pushing a couple of thousand dollars in interest onto their name.

Credit scores are they are a way of telling the bank how likely someone is to repay a loan. The higher the score is, the lower the interest rates are. The lower one’s score, the harder it is for them to receive any sort of decrease in interest rates. Keeping an eye on the money one spends with a credit card is a major task: it is not to be messed with, no matter the cause.

“And a new survey by U.S. News and World Report found that one in four college students is carrying credit card debt, and more than a quarter of them have credit card debt that exceeds $2,000,” Kristine Lazar, writer for the CBS News website, said.

Some believe that credit cards are to be feared and lead to no good, as they may teach young adults to use money that they do not have or cannot pay without thinking about the price of interest. which does not seem to be the case here. Although credit cards indeed increase the risk of debt, using your card correctly would do nothing more than benefit future payments of necessity. With the right knowledge and correct use of credit cards can build a great credit history making borrowing of cash cheaper while also giving low interest rates, cash back from payments, and rewards just don’t make the rookie mistake of paying over budget it’ll only lead quite the pickle.

Credit cards should only be used for what you know you can pay and not what you can’t pay, photo from Pixabay on pexels.com (Photo by Pixabay)

“In some states, employers can request your credit report as part of your job application. You will know if they do; your consent is required. Because the effects of good credit can be felt in so many parts of your life, it’s important to do what you can to help your credit. Paying your bills on time is a big part of the recipe, as is keeping credit card balances to less than 30% of your credit limits, and lower is better,” Erin El Issa, writer for the Nerdwallet, website said.

As mentioned before credit cards are an amazing way of granting huge benefits when adulthood comes knocking on the door, it is recommended for students that hit the year of 18 to not wait for the card it will be very useful growing up in a society of inflation.

For those leaving high school this year, how about grabbing a card? The benefits are great and will help when buying essential needs like a house and a car once leaving to pursue a beautiful career.

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About the Contributor
Jonathan Saucedo
Jonathan Saucedo, Opinions Editor
Jonathan is a junior at West Chicago Community High School. He joined Journalism last year and has learned many important lessons - especially that deadlines can be tricky. This year, Jonathan is an up-and-coming opinions section editor. He is grateful for this position and his ability to be a leader for the Chronicle. Besides Journalism, Jonathan loves the draw/sketch (although he may not be good at it, he draws in his free time and during school when classes get a little boring). He also has a very sociable personality and can talk to people very easily, but when it comes to a presentation, he kind of falls off. His goal for this year's JPro class is to at least publish 25 assignments over the course of the year. Well, the task may be tough, but he believes in himself and so should you. Oh, and another one of his goals is to find a job. Over the summer, he went on a job hunt, but a lot of businesses declined, leaving Jonathan sad and broke. He is excited for Journalism and cannot wait to be a part of the team all year long - and next year, as well, when he becomes a full-on editor and the last of his peers. 
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