When you get to campus in the fall, the credit card offers aren't far behind you. In some cases, they might beat you to the Student Union.

The first credit card I got I was coaxed into. A fraternity on campus was using credit card applications as a fund-raiser for their chapter. As a freshman I didn't know much about credit scores  or credit reports , and—being the kind soul that I am—I decided to sign up. I never used the card. The account just sat open with a high limit, severely lowering my credit score.

Beware the credit card application! They'll be all over—at local restaurants offering a free meal if you sign up, in the Student Union giving out free T-shirts, and even in front of your dorm being manned by your new friends. Don't sign on for a free gimmick. If you really need a credit card, think it over and decide what your best option is after researching .