When a credit card is issued, it’s like a big stack of money being given to you to spend, with a shiny piece of plastic. The only catch is that you have to pay it back.

Credit cards give a user the ability to obtain goods or services before actually making a payment, based on the trust that payment will be made in the future, plus interest.

Even though credit is a necessity everyone will need at some point in their life, particularly when purchasing a home with the help of a mortgage or to buy a car with a loan, credit cards have a contract that young adults should read carefully.

Many college students do not know all the details associated with having a credit card, which makes them easy targets for credit card companies.

Only young students who are financially responsible should have a credit card, and even then only if absolutely necessary. Those individuals who are not careful with their finances should wait until they can handle their spending properly.

The average college student now has 4.6 credit cards and a debt of $3,173, according to a recent study by Sallie Mae.

This is troubling because it takes a long time to pay off the debt owed and it may also get in the way of paying off student loans.

Credit cards received at an early age represent a hazard, as college students may be unaware of about just how much they are spending due to the ease of use. The average available credit limit for students is usually around $6,000, according to the U.S. Department of Education’s National Center for Education Statistics. This seems like a lot, but can be reached fairly quickly; little purchases here and there can quickly add up.

This is the inherent risk of owning a credit card; there is always cash available to you whenever you need it. With the ease of availability, comes the ease of saying yes to purchases. However, such behavior can lead to a person’s downfall.

There is always a time limit defining when you have to pay back what you’ve spent and there is always an interest rate that compounds monthly. If you spend too much on a credit card and cannot pay back the debt when it’s due, late fees are added onto the bill.

Failing to pay back these debts also ruins your credit score, which is needed to be approved for loans and employers may even check your score.

Bad credit scores can also make it hard for individuals, young or old, to be approved for apartments and they usually will have to pay higher interest rates on their credit cards and higher insurance rates too, according to Esurance.

Young adults, especially those in college, should wait to sign up for a credit card unless absolutely necessary because credit cards can also become addicting. You can start off with one card and do well purchasing items, making monthly payments and building credit, but with more than one card it can become overwhelming. You can easily lose track of how much you’re actually spending.

Credit cards can also be stolen, which can lead to identify theft and the ruining of one’s credit score.

While credit and high credit score is something everyone will need to obtain at some point in their life, unless one has stacks of cash and can pay for everything in one full payment – which is highly unlikely – it’s not something that needs to be taken care of or started during college.

Start off with getting a job and a debit card, then work your way up to a credit card when you graduate or feel comfortable handling large amounts of money.

Trust me, credit card companies will still be around to offer you easy money and then collect with interest whenever you choose to have one. Just make sure you’re responsible about it and know what you’re getting yourself into.

-Marissa Mararac is a junior communication major from Tacoma. She can be contacted at 335-2290 or by [email protected]. The opinions expressed in this Column are not necessarily those of the staff of The Daily Evergreen or those of Student Publications.