Credit Cards

Hands holding credit cards

Credit cards allow you to make purchases and pay for services with money borrowed to a creditor. Students often ask whether credit cards are good or bad for their financial health. The answer is both. Credit cards can be a great tool to help you boost your credit score and make purchases with money that you don’t have available. On the other hand, credit cards can easily and rapidly become one of the most dangerous threats to your financial well-being when not managed responsibly.

Making late payments and not paying your balance in full every month results in high-interest costs, late fees, and impact your credit score negatively. Missing a payment might lower your credit score by 90 to 110 points. Why is credit score so important?

If you pay off your credit card bill in full each month, you will never pay interest on what you've borrowed. Managing your credit cards responsibly is essential to your financial stability.

Am I ready for a credit card?

Contact us to set up an appointment to meet with a Financial Wellness Specialist who can assist you learn more about applying for credit cards and finding out whether or not you’re prepared to have one.

Are you thinking about getting your first credit card? Find out if you are responsible enough to have one and use it wisely by taking this quiz below. Access the quiz by clicking the image below or visiting:

Quiz: Are you ready to have a credit card? Click here to learn more

 iGrad’s Using Credit Cards Responsibly Course

Credit cards can be beneficial, but also dangerous. iGrad's Using Credit Cards Responsibly Course will help you learn how to use them wisely. Click here to access it.
        What you'll learn:
  • How credit card use is changing
  • How to read the Schumer box
  • How credit card companies make money
  • How to manage credit card payments
  • How credit card use affects your credit score
  • Why and whether you need a credit card
  • Credit card terminology
  • How credit cards work
  • Perks of having a credit card
  • Risks involved when using credit cards
  • The warning signs of excessive consumer debt

Access the course by clicking the image above or visiting


Last Modified: 8/4/23