When you’re counting every penny, credit card offers can be tempting. And credit card companies know this well. While you probably already got your first flood of credit card offers back when you were a freshman, you’re still a target for credit card companies.
Many schools closed their doors to credit card offers, but credit card companies still use events like concerts and free giveaways to lure students, according to a report on News 10 Now (New York). So while you may have already developed immunity to these enticing yet dangerous offers, remember, credit is not income. It’s an expense. Every dollar you spend in credit cards will need to be paid back, with interest.
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I've never signed up for a credit card that gave me a special sign-on bonus... I don't know if it would be worth it because even applying for a credit card has an impact on my credit record and score. I do however sign up for various trial offers that are solicited through my current credit card. I've gotten an mp3 player, digital camera, $40 gift card, and portable dvd player through those deals. I just make sure I never get too busy to cancel in those 30 days before they charge my account. Those deals don't have any side effects on my credit or anything and the things are nice as a poor college student. I've given them as gifts or used them for myself.
Make it a policy to not respond to credit card solicitations. If you need a credit card, do the research and approach the bank of your choice on your own. Don't be afraid to negotiate your credit card terms. The worst they can do is say "no" - and you could potentially save a lot of money.