A basic lesson for university students

Take care with credit cards. Avoid falling into that slippery slop of drowning in debt.

This is excellent advice for any person that uses credit cards. The young people today do not see the reality of the credit card and they get into debt needlessly and through their ignorance. Why do we give the money to the banks. They deceive us with a 5% interest rate and then they rise it to 30% and then it becomes impossible to lower the debt.

In each university there is a hidden threat waiting for each student. It is not the excessive druckeness, neither the low marks in the Chemistry exam, neither the absence of cleaning in collective baths. None of that is a problem. It’s the debts students accumulate with credit cards whilst they are at university.

"I will have to pay debts by the remainder of my life", says with Susan Robinson, student of the Dovedale College, in Chelmsford. I have 11 credit cards and I have not even graduated yet.

Credit cards offer protection. They facilitate the transactions by internet and they are very useful in case of emergencies.

Also they occupy an important place in the life of a students, therefore they can be used to pay the university registration.

But many do not settle the bill each month and this is what alerts the financial experts.

According to Liz Haylock, financial expert and columnist, the average university graduate accumulates approximately £2,000 in credit card debt.

And card debts have there consequences: they can affect the students in the future, when its records of credit for the purchase of a house, an offering of employment or the request of an insurance policy.

To avoid that type of debt and the corresponding record of a bad credit record, the experts advise university students request a credit cards without an annual fee and shop about for a lower interest card. There are many cards out there with lower interest rates, you just have to look.

The students should consider the obtaining of credit cards that permit a grace period so you do not get charged if you delay payments for a little while although these are hard to come by as credit cards make huge profits out of charging late payments.