Credit Cards: Do they help or hurt students?
Back when I was a university students in the 1980s, credit cards were very difficult to obtain, and thus, students had to either borrow from family or banks, or save their money until they could make purchases. Now, credit card companies can't hand them out quick enough, and students seem to use their credit cards to buy everything from fast food and clothing, to airline tickets and other luxury goods. So, what do you think are the advantages and disadvantages of having credit cards, and how can students learn to use them wisely.
Randall
49 comments:
Basically, I object to the use of the credit card. I, a father of two kids, have experienced a lot of problems such as an impulsive purchase, overconsumption or so. Actually, it is difficult to overcome our desire no matter how we try to use the credit card wisely, especially as far as students are concerned about it. The more we use the card, the more profits the card companies make.
I agree that university students using credit card is a big problem. because they may be waste money more, it is easy for them to buy anything they want. they don't know that they should pay the money later or they will have a big finical problem when they gruate.
they will have a big finincal problem when they graute. because they think it is easy for them to buy anything they want.
The problem of credit cards is you don't see money you spend. And because of it you spend a lot. I use only cash for shopping, it's much better for budget:)
They help most student to learn to adapt to the mordern way of consuming.
A student can not buy an expensive good by cash. Credit card obtains him to pay it by instalments. Thus, one can have his requirements easily. But, we should think how we will pay back. Otherwise, we really have to fight with bank's lawyers.
I don't think it is a good idea that people who don't earn money by themselves have a credit card.
They can spend money easily because they don't know how hard to earn money and save. First, they need to learn how to use money wisely and it is not late to have a credit card after that.
A credit card is an useful thing for us.We can purchase easily online or in the store,in spite of the fact that it's dangerous if your card and password are stolen.
Most students like credit cards,which make our lives become advanced and convenient.
I agree. Many students use their credit cards thoughtlessly. I think their parents and schools should teach about economic idea since they were children.
I think student credit card is bad idea because it will make bad habit to student. They can pay anything before thinking so that will make a big problem to theirs.
Imo, having a credit card has its prons and cons. First of all, students are able to manage their own finance and think of economics in pracitce. What I want to say is that there's no better thing than having your own money. You decide what you want to buy, when you want to do it and which price is the most affordable for you. On the other hand, I think offering credit cards to students is a wicked trick of banks because they know students tend to spend a lot of money without considering consequences. In my country for example you are not given a credit card unless you have appropriate income and it is assured you will be able to pay off possible debets. This can prevent many students from sending themselves in a hole. Students here are offered with cards which don't allow them to have debet so they can spend just the money they really possess.
As other issue, student credit cards have advantice and disadvantice also. Credit card with its uges is a tool to encorage consumation. It is good if students can control their spending. However, it is bad if they control money not good.
Therefore, according to me, We should learn to spend money. By that way, we can enjoy your credit card ;)
nowadays using credit card is indespensable to anyone, including university students. but, undoubtedly it is causing some problems for a lot of people.
what i think is that credit cards are just kind of silly things. you cannot control the money u spent, when u have a cash in ur wallet u see how much u have left... but not having a credit card in united states is just weird...
Students shoukd be taught how to use a credit card sensiblely during school as they are probably not mature enough to their finacial control.
The credit card is good for buy anythings from internet or shopping store because the credit card not danager such as cash of money.Actually,i want to buy somethings by credit card their have a lot of benefits for me,especially the students are need credit card in university or anywhere because cash of money danager for them but credit card in safe side , My opinoin is a credit card is a good for pay fee university or college or anythings needs it .
The credit card is a useful card,
but it always have many disadvantages.I don't have one because i know that i can't afford its payment bill at least.First, if you are a student who don't earn enough money to pay, the bill will press someone on life.Second,everyone who don't think about any terms sometimes buy stuffs on an impulse.Finally,there are some poor people who apply for the credit card to save their temporary life.It is saying goes "The error committed on impulse may turn out to be the sorrow of a whole life.""Look before you leap. "
Actually, i have ever tried to use a credit card although it is advantaged a lot. However, i think a credit card brings may benefits. It sloves the financial troubles so people can not delay their plans. Overall credit card plays an importand role in modern life ^^
This conversation tells us about the displeasure of a brother with his younger sister’s using a student credit card.
When he come over to drop off some DVDs she had wanted, he knew his sister had recently bought a lot of recreational facilities such as widescreen TV, stereo system, etc.
He didn’t know where she got money to buy all that. He initially thought that she borrowed money from their parents again. When she told him that she used a credit card, he still thought it belonged to their father, like she once did it.
But her let him knew that she herself got a student credit card, and she described the advantages of using it such as building credit rates, control spending and even buying something that one couldn’t pay with cash, like the plane ticket she got recently and some new clothes she needed for her vacation in Hawaii with her roommate.
The brother didn’t want to hear it. He saw how having a student credit card controlled spending: his sister seemed to be spending herself in a hole. He believed that it would just lead to impulse spending. He also showed her that the interest rates of student credit card was usually very high and if she missed a payment, it would just increase rapidly.
His sister tried to elucidate that the credit card had a credit limit, and this limit didn’t come to $20,000 as he said. Then she told him about getting new digital cable over 100 channels and his birthday present, a new MP3 player…
The man was very displeasure; he knew that all those things were charged on the credit card. He didn’t think that having a student credit card was a bad idea, but that was ridiculous. He asked her about how to pay her credit card bill, and she said that she would do it with her birthday money; it was coming up in a week.
The man suggested his sister should think about how she was going to pay those things back and hoped they could come up with a budget that would help her get out of that mess. That’s the least he could do.
I'm studying at university and I have a student credit card, which I only use to keep money for future necessities or anything else. In my opinion, students, above all those ones who are studying at university, can have a student credit card as long as they use it wisely, because they must be aware of their expenses, expenses that are normally paid by parents due to lack of money
I donnot agree that students use
credit cards ,because they will
easily spend themself in a holl.
Even though they donnot have
enough dough , but they still
buy stuff with credit cards.
I think it is radiculous .
I think credit card is simply an instrument in the hands of a student. If he has a job, then he knows the limit of what he can buy. I think that the problem is harder when the parents pay the credit card bills of their son: he couldn't think about his spending limit an buy a lot of stuff because "mom will pay it!". Personally, I use a rechargeable card : my parents put 500 € a month, this is my budget and there isn't interest rate on it.
I don't think that having credit card lead students to a problem. University students are old enough to manage their money. It's difficult to plan how to use their money, but they should do it. If university students can manage their money, credit cards are helpful for them.
I don't think that having credit cards lead students to a problem. University students should manage their money. They are old enough to manage it. It's difficult to plan how to use their money, but they should do it. If they can manage their money, credit cards are very helpful for them.
It is hurtful for students to have a credit card. As a script, when we have a credit card, we would become less sensible to dudget and spending money. Instead of credit card, on these days, we can have a debit card in which we can charge money. It is easy to carry and helpful to make a budget for ourselves.
Well, the risk of default in a credit card for students could be lowered if, like the pre-pay system in mobile phones, the parents approve previously a certain amount of money to be spent in each month.
In my oppinion,university students are not mature enough to afford student credit cards. Since they don't have a well-paid job,it is hard for them to pay the bills in time.They are also too young to resist the impulsive purchase. They may take some courses on financial planning and make good use of their money,I believe.
Students having a credit card should depend on whether they can work and earn money. In addition, the spending with the plastic required to be restricted by the amount of money they can pay off. If they cannot pay the bill without delay, their plastic money use could be suspended for a certain period.
I agree that credit card is useful for student. Because in my country it's dangerous carry on cash.
If parents stablish a limit for it. It's better and cheaper than weekly check.
As I think,credit card encourage students to use the "future money" as they don't need to pay it first.They always realize the problems after they received the bill.No doubt,credit card gives us a big convenience in a lot of ways.However,I don't think those convenience are good for students to use.It couldn't help students for building up a correct concept of using money. Therefore, I think student credit card is no a good idea.
It is very dangerous in credit card if you can not control yourself. Because the debt will destory your life unless you pay it back.
I will talk baout the diffences about CIBC Classic VISA* Card and CIBC Classic VISA* Card For Students. In fact, the first one is good for a first-time credit card holder. it has no Rewards Program and no annul fee. Importantly, it allowed that you get 3 additional cards for free.
You could apply it if you got$15,000 minimum annual household income.
But, as a student, the second one is better. It is almost same as the first but easiler to apply because the income request is 12,000. And It don't allow you to get a additional card ---- which you really dont need.
It would be wiser for students to set precise monthly limits on their credit cards, well within their budget.
The procedure to eventually modify these credit limits should be relatively difficult, in order to be avoided.
I think credit cards is good if is used wise.
I think is a good idea becuse help student to build their credit,but in the same way is a dager if is not used wise,becuse you cn put your self in a hole and never finish paid.
I think having a student credit card is a good idea. It will help student build his credit records and tell him how to budget his money. But saying from another way, it is danger if is not used wise. Because some people can't control their shopping habbits and spend themselves in a hole, lead to them a serious problem.So, you have to reminder yourself, credit card is not free money, is a credit, you have to pay them back in a few weeks.Budget and control yourself will help you build a good credit!
In my opinion, credit card is helpless for students. The main obligation for stuents is studying in school, and their to life is from their parents. So, they do not need a credit card. However, if they get a credit card, they always want to buy many stuff they want rather than they really need. Students can hardly control their impulse themselves for material desire. I don't see any advantages for students with credit card. Hence, students must know what is the most significant to do -- studying. They would have many credit cards when their economic life is independent.
I am a freshman at Vietnam's university.You know, VN is developping country, but most of students have been using credit card that has both disadvatage and advatage.It is very convenient for their parents sent dough for them, and it also like a big box that help us keep money safely.On the other hand, it has 2 disadvantage such as:if we lose our credit card and someone get it ,they will steal our money, or sometime we forget credit card's password ,and we need money immediately,it take us to wonder. Conclution, days by days credit card more and more become popular with everyone. Thanks you for reading my comment.
In my opinion, students have credit cards both have advantage and disadvantage. The advantage is that students can buy anything what they want and don’t need to ask someone for money. So, credit cards are very convenient for students. But the advantage is only for the students who have good control on spending money. On the other hand, many students don’t have good ability to control spending, so the credit card for them is bad idea and bring them a big problem. Many students spend more money than those they earn and they cannot pay off it. Therefore, I think credit card must have the limit depending on the ability of students about earning money.
What I think is, Anyone who posseses a credit card is at disadvantage unless he/she purchases items over the internet. Credit Cards should be used only if raw money can not be used as a medium of exchange. I say this because, owning a credit card can cause a spender to spend more that what he/she realy needs.
Having a credit card? There is nothinf wrong with that, even for a student. We'll never know what will happend, maybe he/she needs to buy important things while their parent not around. But the parent should give a good expalantion to their children how to use it wisely. It's not a bad idea to teach student how to manage their spending.
To my opinion, I think having credit cards is not a bad idea. But we have to use them well. We can't buy any thing that we want without considering prices. So, if we know how to spend money very well, I think the credit cards are very convenient.
I think there are several advantages using credit cards. They can learn how to spend money wisely. Many college students might have problem of overspending, instantaneous purchasing. But through these mistakes, they will learn the way of controlling their spending habits. Furthermore, if we restrcit the upper limit, it won't be that big problem.
I think that using a credit card can cause a lot of problems if you have no control on the way you buy things. If it is the case I believe you'd better avoid using it.
I consider that the use of credit cards is not all inconvenient for some reasons.
The first reason, is because a lot of students don't study in their hometowns near of their parents and sometimes they need money for some important stuff like books, insurance or school payments.
Also if students have credit cards in some cases is because their parents consider that its can help them in difficult situationS.
By the way is important to have a control about the use of this cards, because the rates of this cards is high and a lot of young students are irresponsibles.
The credit is one of the most important inventions of civilization, but it´s need a lot of responsability of both sides. Such who give so who take the credit. So, i think that a teneger does´nt know the great responsability that the credit card is.
I think credit card having big problems because it make much debt therefore it have conveniant but I disagree about pay by credit card.
I wander why most of people here againist cridit card , i think it is amazing financial way that made our life easyerand more practical .You guys talking about abnormal people who can`t resist purchase desire , but if you are wisdom enough and buy things that you are really want , do not miss the chance and use all the cridet card benefits .
I am a college student,there are a few classmates who have credit cards around me. But I think we can make full use of them.Because we will get into the real society after three or four years' college life, we can manage our money appropriately when we use these cridit cards.
I would just say that this financial opportunity can be helpful for students who have no family support. However, I think that students have to be very careful when taking a credit cards. I suggest that before taking credit card, student want to be sure of taking the right amont of money they need. Not exceed their expenses. That is very important. My second suggestion; do not take credit card. try to fing a job that can help you pay your expenses and you tuition.
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