Many people don’t like to talk about their credit openly. I can really understand that. It’s somewhat personal and private information. The world really revolves around your credit. Very important things in life are granted and given to you if you have good standing credit. Things like cars, houses and even minor luxury items such as a family boat. Nothing crazy, just a very basic boat. Wouldn’t that be nice?

But here’s the thing, if you don’t have good credit, it’s really hard to get any of these things. For those who do have average credit, it’s like your going to be punished for having just average credit by being approved for a loan with a higher interest rate.

In many ways, it almost seems backwards. Many folks who have suffering credit have it for a reason. Money is tight or you might have had a bad month at the job, things like that. It would seem like for the folks who are struggling that they should be given the break and honored a low interest loan of some kind. For the folks that do get approved, they end up working twice as hard and sweat twice as many bullets towards paying off the approved high interest loan.

Quite the opposite happens to folks with outstanding credit. Life is a breeze as they coast by having amazing loan offers with very low interest rates. With all that being said, to me and in my experience. Sometimes having no credit is the best line of credit.

Back in my early twenties, my wife and I had a hell of a time financially. We had a kid very early in our relationship, my wife already had one of her own. We both were working just very average jobs and lived in an apartment. Things were very difficult. At the time; however, we both had amazing credit. When you’re young and in your twenties, everyone will approve you for credit cards, loans, etc…

We really had no choice but to live off credit cards. We didn’t make enough money to pay the bills, purchase food and pay for things like clothing or school supplies for our two kids. As the years went by we got into quite a bit of debt. Needless to say our credit suffered very badly. Eventually we paid all our debts as we continued to advance in our careers and make more money. But we sure did pay a hefty price.

Today, my wife and I don’t use credit cards. We have re-established our credit by way of paying our mortgage always on time and successfully paying off our auto loan. But because of that experience we had in our early twenties, we will never get a credit card again. We stand by the theory that if you can’t afford something to pay cash for it right then and there, then it’s not worth purchasing.

If I want something, I spend a long time thinking about it and question whether I really want that item or not. Really I have no choice but to think about it as I have to save money up to make the purchase. So really, when I say no credit may be the best line of credit what I really mean to say is that by not using credit cards, it can be your best defense against getting yourself or your family into a financial jam.

Many adults in their early twenties have a huge amount of credit card debt. It is such a huge problem that many people want to know what the secret to eliminating credit card debt. Is there such a secret? Is there a quick and easy way to eliminate credit card debt?

Some young adults have an exceed of over $25,000 dollars in credit card debt. Literally it will take them 10 to 15 years to completely pay off their credit cards debts. That is unless you know the secret in eliminating it.

The truth of the matter is that there is no secret. The only secret is to have self preservation and self control on your spending habits. Fear not credit cards as they are a great thing to have. Credit cards can successfully allow you to build and establish credit which can later be used towards getting a car or even a house.

Unfortunately, as seen in this included YouTube video, credit cards are much like a gambling addition. Once you have a credit card, you can easily become addicted to using it and spending money. As shown in this YouTube video, perhaps truly your best option and first step towards eliminating and managing your credit card debt is to carefully cut your credit cards not only in half but many many times.

Did you know that 21% of all college students graduate having over $7000 dollars in credit card debt? Amazingly 83% of all college students have at least one or more credit cards and actively use them in daily spendings such as paying for gas, clothes, books, food and board. College students that max out their credit cards and then make only the minimum payments on them, it will take over 8 years to pay their credit card debts.

It is recommended that instead of seeking out the approval of credit cards, to get a part time job during your college days to use that money in replace of a credit card. Also college students have the option of seeking out a low interest education loan which would have cover the cost of tuition, books and housing. College students are leaning these financial lessons the hard way.

Here is a very touching video I found on YouTube that illustrates many of these facts and how it has impacted the life of one college student who is now working hard at getting out of credit card debts during her college years.

Are you looking for credit cards for teens? There are accounts that are geared towards allowing parents to give their older children the ability to have a line of credit in the form of a a credit card design specifically for a teen.

The concept is pretty simple really. Having credit cards for teens might sounds a little scary at first, believe me I would know as I have a 16 year old daughter. However, the idea behind this is really unique. You can get a second card assigned to your account that has special controls or limitations assigned to it.

As children become older their lives tend to expand further from the home. Many older children are active in sports and other activities away from the home. I only know how I feel when I leave home without my wallet. It makes me nervous because if my car breaks down, I would have no money to use towards getting home.

The same goes with older kids. Credit cards for teens are an excellent option, especially for the older ones who are driving. Knowing that if your teen got stranded, wouldn’t it be comforting to know that they have specially designed credit cards to use in an emergency situation? Something to think about, huh?

Students in college already have enough stress just being in college. For many, college is a very expensive venture and a financial risk that is being pursued for a chance to have a better life financially with the goal in mind of earning a degree to land a better job in the work force. College typically doesn’t only bring a great education but it can also leave a student scarred from credit card debt.

A large number of students are faced with the challenge on how they can pay for college tuitions. While there too is a large number of student who were lucky and found grants and proper loans to pay for their college education, still their typical living expenses aren’t covered. Many students seek out part time jobs and work around the clock balancing class schedules and their minimum wage jobs. Needless to say, college has its challenge in a multitude of different stresses.

Combine all these elements and then consider your reaction if you were back in college facing these same issues and a credit card company representative confronted you with an offer of financial and stress relief. Consider how tempting the offer to apply and get approved for an instant $5000 that can be used to cover the cost of food, books, gas, rent and other things that are needed in the typical lives of college students.

In a more recent story published by Meghan Pesch titled, Banks and credit card companies target college students through partnerships with universities, you will discover the large lengths credit card companies take towards getting students to apply for their credit card offers. Credit card companies are targeting college students for credit card approvals. They will go so far as to troll around on college campuses seeking out their victims. The problem with this is the fact that a large number of credit card offers being presented to college students aren’t really the best option for most of the students.

While, indeed, many college students to live very stressful lives financially, by applying for a credit card and getting approved for a larger line of credit, $5000 or more, this doesn’t set the student up for a very peaceful road in the upcoming future. The results are typical and commonly lead to students being forced to pay on their credit card debts for many years to come.

While applying for a credit card may seem like a quick and easy solution to relieve the financial stresses of college students, I would strongly consider alternative options, such as hitting up mom and dad for some interest free money. The problem in this situation is simple. A large number of college students leave college with a wonderful education but also leave being in debt which will take their entire 20 year career to pay for.