Almost everyone has a credit card these days. Infact almost everyone has multiple credit cards these days especially students. We blogged earlier showing you guys the best credit cards for students. But for many college students credit cards may be in too many places, and the future can include high debt that cripples credit ratings and erases eligibility for loans.
Credit card company data shows more students possess credit cards than at any other time in history, and students are using their credit cards with increasing frequency. These are the days of 0% credit cards offering 0% balance transfers. That’s good for everyone: students gain convenience, the credit card companies build future customer bases and merchants sell more goods and services. But both sides also have a lot to lose if the students who spend, spend, spend today are unable to pay, pay, pay tomorrow.
But we are going to talk about another serious issue today. Credit card fraud. We see headlines such as “13 People Indicted in New York City in $3 Million ID Theft Ring” , “Corporate Owner of T.J. Maxx, Marshall’s Says Information for 45.7 Million Cardholders Stolen” , “New Yorkers, Californians at Highest Risk for Identity Theft, Hundreds of Missing Passport Applications Found at Los Angeles Airport” , “Boeing Corporate Laptop Stolen; 382,000 Identities at Risk” and more everyday.
In this post we want to share with you a story of a fellow student, who tells us not about her problem with too many credit cards but another serious issue, credit card fraud … in her own words.