Wednesday, September 26, 2007

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

170 comments:

takefive said...

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.

Anonymous said...

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.

Anonymous said...

they will have a big finincal problem when they graute. because they think it is easy for them to buy anything they want.

Ivan said...

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:)

Anonymous said...

They help most student to learn to adapt to the mordern way of consuming.

Sulky said...

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.

Anonymous said...

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.

Vincent said...

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.

kyungin said...

I agree. Many students use their credit cards thoughtlessly. I think their parents and schools should teach about economic idea since they were children.

Rapheewan said...

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.

Zuzka said...

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.

luong said...

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 ;)

ismail said...

nowadays using credit card is indespensable to anyone, including university students. but, undoubtedly it is causing some problems for a lot of people.

Anonymous said...

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...

Anonymous said...

Students shoukd be taught how to use a credit card sensiblely during school as they are probably not mature enough to their finacial control.

NoioN said...

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 .

Lydia said...

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. "

Jamie said...

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 ^^

xichloairlines said...

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.

Carmen said...

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

sycorax said...

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 .

oyasuminasai1 said...

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.

izumo said...

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.

izumo said...

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.

Anonymous said...

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.

Anonymous said...

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.

Anonymous said...

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.

lovehhi said...

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.

Anonymous said...

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.

Anonymous said...

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.

Yilan Yuan said...

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.

Anonymous said...

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.

Anonymous said...

I think credit cards is good if is used wise.

Anonymous said...

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.

wallson said...

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!

jeffrey said...

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.

Anonymous said...

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.

Anonymous said...

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.

Anonymous said...

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.

Metta said...

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.

Jenny said...

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.

Eunshin said...

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.

Anonymous said...

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.

Marisol said...

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.

Anonymous said...

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.

ภาษาอังกฤษ said...

I think credit card having big problems because it make much debt therefore it have conveniant but I disagree about pay by credit card.

Anonymous said...

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 .

Anonymous said...

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.

Damsoa said...

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.

Anonymous said...

undoubtly, using credit card by students is not an unwise choice, whic may push or induce them to but things that are necessary, consequently add the burden on them.

rata said...

Hello,
Thank you for replying,about this topic,I have sth to say.
Actually,the student credit cards have both pluses and minuses,
you see,if you wanna to buy what you can't afford,you should use the credit card,that means,you can buy sth expensive,or sth you like,and so on.
However,credit card will spend you in a hole,it leads to impulse
spending,you will lose your financial budget,often,the rate of credit card using is sky-high,in case of you fail to give back the dough,the rate is jumping.
All in all,I believe the credit card will help students if they use it in an appropriate way.

Anonymous said...

It is a silly situation that you have to wait for months saving up money for an expensive but necessary thing. Credit cards really can help you to sort it out in the blink of an eye. You merely must restrain yourself.

Anonymous said...

In my opnion, credit cards can hurt student. Because some students have a lot of dreams or a lot of things that they need. When they don't have cash so they can't buy these. But when they have a credit card they they can pay anything that they need by credit.So they have to collect a lot of debt.Finally the credit card is a creditor that you never see before.

Anonymous said...

I don't think that students use of the credit card is a bad thing.From another perspective,I think it's a good opportunity to cultivate the financial management habit.For myself,I left home for studying since highschool.Since that time,I owned my credit card because my mother give living expenses through the credit card.Now I am a university student.I apply for a credit card saving my own money through my part-time job.
So I think it's just depend on yourself

Yangbin said...

In my opinion, credit cards is usefull if students can contol their spend. first of all, carring lots of cash is a little dangerous. because If students loss there wallet, they would loss whole money.

Secondly, nowadays, purchase on the internet has increased. If student don't have a credit cards, It might has problem when students need using online shopping

Finnaly, credit cards have a advantage that can accumulate credit. It would be good deposit in the future.

Therefore, I agree that credit card can help for students.

Yangbin said...

In my opinion, credit cards are useful for student if they can control.

First of all, carrying a lot of money is a little bit dangerous.
for example,If they loss there wallet,they might loss whole money.

Secondly, nowadays purchase by online is increasing. so they can have many opportunity for buying then who unable to using credit card.

Finally, credit cards have some of advantage. such as discount or store credit. It will be good deposit.

Therefore. I agree that credit cards can help for students

Yangbin said...

In my opinion, credit cards are useful for student if they can control.

First of all, carrying a lot of money is a little bit dangerous.
for example,If they loss there wallet,they might loss whole money.

Secondly, nowadays purchase by online is increasing. so they can have many opportunity for buying then who unable to using credit card.

Finally, credit cards have some of advantage. such as discount or store credit. It will be good deposit.

Therefore. I agree that credit cards can help for students

Yangbin said...

In my opinion, credit cards are useful for student if they can control.

First of all, carrying a lot of money is a little bit dangerous.
for example,If they loss there wallet,they might loss whole money.

Secondly, nowadays purchase by online is increasing. so they can have many opportunity for buying then who unable to using credit card.

Finally, credit cards have some of advantage. such as discount or store credit. It will be good deposit.

Therefore. I agree that credit cards can help for students

Anonymous said...

As we all know, having a credit card is a necessary thing these days, especially for a student.
The advantage of possessing a credit card would be that you have this light, little plastic card on your packet and you can use it anytime. For instance, you are out and it’s midnight your car broke and you have to come to home by taxi but you don't have cash with you so with credit card you can withdraw some money from the ATM and get home safely.
The disadvantage would be that because of its convenience you can overuse it by not realizing it. To illustrate, you are going for shopping and you find a lot of cute stuff that you will buy them for sure so you simply inserting your card and at the end of shopping when you see the bills you would say: O my God! What I did?
In conclusion, if you are wise and don't have the mania for spending or buying new stuff every day it is good idea to have one credit card, otherwise, my advice would be keep away from it.

Anonymous said...

I agree with you Randall, it's a big problem that university students use credit cards. They are wasting money and it's very easy for them to buy anything. Later they will have a big financial problem when they graduate.

Anonymous said...

Hey, im anonymus. I think a credit card ist very good.

Anonymous said...

I think that using a credit card can cause a lot of problems if you have no control of the way you buy things. If it is the case I believe you should better avoid using it.

You shold only use it when you write down your spendings, or if you just buy what you really need.

Anonymous said...

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.

Anonymous said...

i disagree that university students using credit cards is a big problem!i think everybody should be allow to have a credit cards,but parents must set a limit. so nobody can make debts. it´s useful for them. they could buy stuff then ever they want to.

Anonymous said...

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.

Anonymous said...

I think that student credit cards are not very usefull...My opinion is that parents should give their kids their pocket money, so parents are able to controle the spendings of their children. If kids have a credit card it's possible that they make arrears and get into money problems. So I think, you should keep at the old way ;)
Thorge

Anonymous said...

I think when you have a credit card for the first time you must have a limit for example not more than 500$ and you can’t go into debt with this card. It’s easier for the teenager to learn how to spend or save money. denise=)

haha said...

I never use a credit card to purchase anything because I think the students' self-control ability is vulnerable,most student can not use the credit card wisely, they just buy whatever they like no matter how much they must pay and hence some of them have to borrow money from classmates and friends to make a living in the next month.

Kim JaeMin said...

Using a credit card is mostly good as long as we can aford it. Everything has side effects and good effects. we can save time and be convenient. Otherwise, we can be in a serious financial problem. It is our choice. Who knows?

Kika said...

In my opinion everybody has to be careful about credit cards, however parents or students. I think that students using credit cards must be very responsible. Example, I have a college student son, 18, and I'm supporting him to study. He can work a few hours a week, so he doesn't have sufficient money to buy every things that he wants. So, he can't have a credit card for now...because, he can be stimulated to buy, buy etc... and waste money and I 'm sure that I'll stressed very fast.

Anonymous said...

It is very convenient for anyone to have a credit card. But, Be careful, guys! Any company will make profit from the credit card. Remember to pay back money on time.

Anonymous said...

Though it's a cliche, "no pain, no gain" is what the credit card appliers have to think about before they do it, whatever they are a student or not. I have one credit card and use it every month for paying my insurance premium and bills only. When the pay day of the credit card bill comes, the total amount I spent is atomatically deducted from my bank account. Which means I won't pay a penny on interest.

badi said...

Hi
I agree that everyone must have credit cards.This year I went to university and feel needing credit cards,after that I gave one.It lets me not ot carry a lot of money and just carry a card and i can buy anything with my card

mohammed said...

HI

I think offering credit card is a wicked tricks of banks because they know that consumers tend to spend a lot of money for material desire without considering the consequences.In fact,having a credit card might have many advantages at a first glance,particularly,in case of emergency such as :losing a job, covering a meidcal bills or even repairing a broken car.However,in my opinion, credit cards are helpless,specialy for people who don't have the ability to control their spending, it can lead them to impulse their spending,lose their financial budget,and as a consequence, fails to pay their debt backbecause of the high rates of interest and charges.bottom line, there is no better than living with your own monney.

evelyn valdivia said...

in my opinion the credit cards are a good form to obtein stuffs than you can't buy in cash but you can pay in small qoutas and also for emergencies.always controling your spends and established a qouta that you can pay.other estrategies for use the credit cards is buy without interest in 4 or 6 qoutas that some stores has for sales with credit cards.

evelyn valdivia said...

many people have a credit card without problems,i think that is a problem of maturity and probably young people don`t have anyone because they don`t use it in a correct form

Joshua said...

Everything has 2 sides namely good and bad.
For example, fire is one of the useful tools for humanbeings. It makes the house warm and makes food delicious but if fire is misused, it makes disaster. It could burn down the house which supplies warm and cosy space to the people and could hurt even kill the people.

Credit card also has 2 sides. It will give lots of advanteges to the sensible users. That's why credit card is called flexible friend. So in fact, good and bad belongs to the users.

Be a sensible user. *^^*

nthisbetter said...

I think the high school curriculum should have 'managing financial plan.' A lot of people included educated people don't know how to manage their finance and how to use credit cards. The problem of credit cards is becoming serious social problem and it also influence a national finance.
Teaching how to manage their own finance to high school students will be helpful not only to themselves, but to nation

Anonymous said...

I agree that it's difficult to control spending. But if you can manage to do it, credit card is really useful

Yo said...

In Korea, use of credit card for students is not allowed.
But I think many children spend their money like water.
I think use of student's credit card is bad idea.
They are not studied at any schools about economic. So they do not really know what it is.
Thus, parent teach their children essential economic systems lest they use spend money without intention.
and if they want to use credit card, I would advice to use of check card that used only within their accounts. so then they more moderate their consumption than use of credit card.

kc said...

It's true that a student credit card might be a helpful instrument in the hands of a thoughtful and conservative student whereas at the same time a destructive tool in the use of a careless one.

It all boils down to how one makes use of the plastic money!

phuongthao said...

Actually, i protest against the use of the credit cards.There are main two reasons are given to prove my statement.
First of all, credit cards build bad habits for students by helping them to spend a lot of dough without considering. This leads to the increasing numbers of students who spend themselves in a hole.
Finally, students who are in financial problems, always focus on coping their problems instead of concentrating on their studying. So they often fail their exams, even though are expelled. T his is really a bad thing for students.

Anonymous said...

I think it will depend of student, if he/she knows to spend money the credit card won't be problem for he/she.

Anonymous said...

Sometimes the credt card is hurt for the students because they don't know how to use it so they spend a lot of dough and keep in trouble. When it happens their fathers have to pay your bills. If the studends are wises to buy the credit car is very good for them.

yopill said...

I think a credit card is one of modern inventions. It's very useful and powerful but the usage without the control can make a person get broken. So it's very essential to verify who can manage to use the credit card. Although a person is an adult but if he can't afford to managing the card, he must not use it. Of cource each person has the responsibility of this but also the card company has the responsibilty so the company must give the card to the affordable person. If the company can't do like that, the company has to be punished from the authority.

Anonymous said...

Everything has two side of view.
Of course,credit card is very convenice to us ,especially when u buy expensive phurchases,you may need to pay by installments.However,if you don't have credit card,wll you buy the things which you can't affordable immediately?Thus,we can know credit card let us buy things easily.Students don't have enough economic ablity to face their purchasing desire so that they may have some financial problems.

Anonymous said...

In my opinion, the credit cards are dagerous for the university students. The university students have limited control skills about spending their money. They need more training how manage their money wisely. After getting a job, they will recognize how to use money,also how it requires deep thinking for spending.

Xmorter said...

I think, it would really be dangerous for students to have their own credit card. Why?
Because it might just lead to impulse spending.
And where would these student gather the money to pay for their credits? From their parents,of course.
I think they should talk first to their parents before applying for a student credit card.

Anonymous said...

i think it's not adbisable to issue credit card to students because they might be just tempted to over spend money. And because they are still students, the down fall is that they'll just let their parents cover up for their debts. I think it's a strategy for banks to widen their target market.

Jong Hyun,Lee said...

It can be provoke financial crisis.
credit card is useful thing to student when they spend wisely.
Unfortunately, However, Many student can't control oneself in front of attracting of products. And they also can't pay for products which they bought without discernment. In this situation, their credit rating decrease. they are just student! they have to have responsibility. In short, It is too early for every student to use and have credit card

Anonymous said...

Having an own credit card for a student, which is a good thing I think.
Now students are very independent. They have their own idears to deal with different things they met. Including spending control. In their pratices of spending with credit card, they could know how to establish their credit rating and to know how to control their spending habits, they know the money spent by them needs to return by themselves. so they can decide if they are fit to own their credit card during their school peroid. They can early know this socity(society).
So having their own credit cards to students is a good thing at present.

Cindy Cheng
In China

Anonymous said...

I think for a stundent who don't earn a lot of money having a credit card is not a good idea, especially during the financial crisis. Some student might just waste the money, and spend it on things they don't really need. And they may face big problems when they can't pay the money back.

Anonymous said...

i agree that students can have credit card, but he/she need to over 20 years old.Cause I think it's older enough to take responsibility for their behaviors. And parents not just stop their children to have credit card, but discuss and find the best way to solve with chldren.

Anonymous said...

i on position being against of students spending credit cards.
first of all student means that they are in their early or middle 20s, which means that usually they don't have a many work experiences except for part time job and stuff. so they have no idea about the real preciousness of dough.
second of all they are so young who have no self-control and full of an impulses. in case they have to spend money right away, they will think of credit card right away if they've got one ,since they have no money just ignoring the fact that they are gonna have to pay back all unlike any other prudent adult.
third of all they are a student not a business man. there is nothing that they have to get in exchange of that kind of risks. if do, ask your parents first. if they won't listen to you try to find out other ways. there are numerous ways you can imagine.
if you've got a problem use your advantages as a student;young, smart, creative.do not just sitting around thinking about how to get money easily. it's crime for your youth.

Florante said...

Depending on the level of one's maturity and responsibility - student or not - credit cards can be hurting or helpful. Generally, however, students especially the young are quite irresponsible to manage their own finances. They mostly yield to their wants rather than to their needs. With credit cards in their hands, to temptation to spend is just quite iresistible. It rather better if what they have is actual money because by then the psychological impulse of being stingy will restrain them from reckless spending. It is quite opposite if what they have are credit cards becuase by then they would find spending so easy with just a swipe of the card.

Sara said...

At first I just want to say that money is not a necessity. I think that's alright to pay for school furnitures, food, location, entertainment and leisures; but it's stupid to spend over than 2000 dollars for one t-shirt for example! Having a credit card for university student is a huge responsability, because he may have difficulty to pay back. So in many cases,he will find himself forced to work and won't find time to study.

Anonymous said...

I am Gloria
I think that the children are responsibles, to have a credit card doesn´t a problem, because they know wthat are the priority stuff that they can buy.
it´s necesary for them, because to pay samethings will be quikly.

Anonymous said...

I think that it depends on students' character. Some of students have good at money management, but some are not. If a student is good at dealing with his or her own money, application for a credit card is a good way to accumulate his or her credits.

Anonymous said...

It's a good tool while you are shopping because you don't bring a lot of cash.But you have to overcome by yourself .Thus, students can lear how to control spending.

daniel said...

having a credit card could be a good thing because you wouldn´t have to ask your parents for money all the time. buit it could also be a very bad and dangerous thing because you could loose track of the money that you have spent get into a very big economical problem

Anonymous said...

I believe having a credit card is a kind of double-edges swords. It will allow students to buy thing they need without beg money from their parents every time they need money, while they also have the pressure to pay back for the bill. It always isn't so easy to pay back, since students don't have any income excpet begging from the parents. When they consumed with the credit cards once or twice with small amount of money, it seems easy to pay back; but when they spent money which was beyond their ability to bear, they spent in a hole and they need more an more money to fill the hole. So I don't agree that student should have the credit card till they have their own job and could make their own money.

Bingcute said...

The use of credit card for students is somewhat not a bad idea. There's only one thing to be reminded in using the credit card, to buy only the stuff that is much needed, stuff that is very important and has relevance to school requirements. Credit cards can only be bad for students who are spoiled bratts and doesn't know how to value money, and those who are not aware or conscious in spending money because they're not the ones after all to pay all the credits.

Anonymous said...

I have credicard, but I believe that is very dificult control the impulse. I agree with sutudents credi card but I think that it nedds to be limited to buy eat, books, some clothes and others things relationhisp with students or that students use the pre pay card.

Anonymous said...

hey every body there, i think using credit card is such a mass idea ,and most probaply it leads to a problem . depending on borrowing for every thing in our life has led the world into economic crisis rightnow . so if u have money buy it , if u dont leave it behind u.

Anonymous said...

I think the credit card is good because with this you can to buy a lot stuff who you need and you want........

Anonymous said...

Using credit card as a teenager will be a serious challenge. That is, without sufficient experience of control of their lives on their own, it will be very difficult and dangerous to use credit card without supervision or advice from adults. Those may lead to overconsumption, or impulsive purchases. Although the best way to learn something is by directly experiencing, speaking of credit cards, that theory can't be applied. Overcomsuption may lead to early bankruptcy, which may hinder their lives quite for a long time. Learning how to use it well should be preceded.

NELSON said...

I consider a student card is a good idea in order to young people learn the value of money. Obviusly, there can be problems if the person abuses of it but with a detailed control from their parents it can be solved.

Anonymous said...

In my opinion,having a credit card is a good idea instead of having cash which may call for trouble from small thieves.
But what one needs to do is, control their impulse for buying things, which otherwise they would not have done had they had no enough dough.One should use their credit card very carefully by pre-planning their budget limit on monthly basis,thus eliminating debts.And if one pays the credit duely in time there wont be any intrest either.On the whole just use credit card wisely than spending yourself into a hole.

Anonymous said...

I believe using a credit card can be very dangerous for students if they are not able to control themselves. As a matter of fact, credit cards lead people to spend more because they may not have the sense of using real money and, therefore, they could spend themselves in a hole.
We should always have the ense of meaure foe everything we do.

Anonymous said...

In my opinion, using credit card can cause students fall into the heavy debt because it is not easy for them to control their spending. However, it also has some advantages. For exxample, students who live far from their family can receive money easily, they can avoid stolen by thieves too.

Anonymous said...

In my opinion the credit card for studes has more desadvanteges than advantanges, because the students dont have control about theier expenses, and they have problems to pay theier debts, and after the parents must to pay.

Anonymous said...

in my opinion, the credit cards are a bad idea por students, because they don`t have money for paying the bills, and if you get money for pay one month you won`t get for the next... until you a broke. i had a credit card when i was student, and a could't pay my bills.

Marit said...

I think credit cards hurt students because it is easy to spend your money at a young age. By the time you notice that the money is gone, you're realize that you are not in case to pay it back. What you're gonna do then?

Anonymous said...

There are different sourtes of credit cards, but I think they're all wrong. Students don't have a certain budget to spent, they just buy everything they like!

Kind Regards,

Marloes

Anonymous said...

Having a credit card is a tramp, That`s what I think because if you are student you are not producing anithing, you only spend, so it is debt for your parents or you will be in serious problems. I think, pay with money is better.

Anonymous said...

I think that giving credit cards to someone who doesn't work is bad because this person doesn't have a budget in order to pay the credit cards. Students often don't work, so they shouldn't have a credit card.

Anonymous said...

I think having credit card for students is not proper. Beacuase it can make impulse purchase without thinking the next thing, paying the debt. Some people say that students can learn economic independence and management by themselves. But I think it is just an excuse for having credit cards. Students also will say like this to justify having credit cards. There are various ways to learn economy without taking risk.

Bearw08 said...

In my opinion, having a credit card is the best way to keep your money. For example, If have lost all your cash it will be unlikely, that you get them back. The other thing, If you have lost you credit card, You are able to block it- and you money are safe :) But of course, many things depend on a person, who's card it is))

safi said...

I think credit cards will be helpful if they are used in the a special purposes. Credit cards are usiful in travelling to other country, in order not to carry cash money with you.

Anonymous said...

in my opinion, creditcard hurt students. they cant earn much money thireselves YET. I KNOW creditcARD IS REALLY HELPFUL AND CONVINIENCE. THE OTHER HAND IT IS TOO DIFFICULT TO CONTOLOL YOURSELF BECAUSE THEY CANT SEE HOW MUCH YOU CANNT SEE. I THINK THE STUDENT DONT NEED TO HAVE CREDIT CARD.

lee said...

I think a student credit car makes students lead to impulsive spending; therefore, it make more seriouse problem. Because student can't afford all of the money they spen, the more they spend, the more parents have to cover the budget. It's just to grow parents burden, so conflicts between parents and students will increase. Then, society will be going to be worse.

Anonymous said...

Credit cards definitely hurt students. They thought it could help them save up more money but the reality is it only gives them the chance to waste all the money they have saved. I mean, how in this world you could buy things you wanted without having money at your hand, it only through credit cards, right? Students will only tempt to buy all things not only they needed but also they wanted (as a luxury) until they spend themselves in a hole. So, don't purchase any of those credit cards, it'll only put you in a BIG trouble. :)

ZHANG XINZHI said...

Though my point of view,weather it is good or not is depend on the students thier own.Nowadays we should learn how to use the new things to provide convenience for us and also need to kown how to control our money ,plan our money.IF one understand these, a student credit card will do a lot of good to him.

Anonymous said...

Credit Card make our livees become advanced and convenient. It is easy to buy everythings that you want. You can buy,watch and study online by paying on credit card that I think it is the adventage of it however there are many dangerouses of nhaving credit card.You will have the ploblem with money if you spend without controlling yourself.And sometime gangster can take advantage if we give credit card ID online.

Anonymous said...

Cycle 1: The student credit card
Subject: Xiong Wei
Firstly, in my opinion, it is not good for students to have a student credit card.Students are still too young to control themselves well.They may always swipe their cards as long as they want to buy something. Because it is so easy to buy things via cards. This is a bad behaviour.In those people's eyes, cards are the centre of their life. They may never think about the result when they spend money happily. In fact they don't feel their responsibilies towards their family, society and even themselves. Once they get the shocking result of which they have never been aware tragedies may happen. Some feel extremely depressed and even some flee.
From all above we can see that it's not good for students to have a student credit card.

Ding Xiao Ting said...

Nowadays, most of the credit card companies have lower down their qualification for the public to apply for credit cards. One of the great pools of market newly developed is the group of tertiary students. Lots of promotions on credit card are available in the campus; students can easier to apply a credit card. Most of the students were irresistible to the attractive promotion of the contract. Credit card does offer a convenient way for transaction but on the other hand, it also has created some problems to them if they do not know how to control on their spending. Using credit card could be a better way for students to manage their financial but it may also lead to spending future money.

Anonymous said...

Actually, I get credit card, but it does not cause my financial problem. In my opinion, it's depends on diffierent people. Most of time I only spend money on which item that I think it's useful or not. I also would concern the price that I can afford or not. If this goods is over than my budget, I would not purchase it whatnever how I love it.

Anonymous said...

Myat Kyawt Ei (MK)
U0920789C

In my point of view, students should not use credit card. Using credit card makes the users to be convenient and of course let the customers to enjoy discounts and promotions. However, if students have over spent, since they have no income to settle the bill payment which is including the over due payment, it would turn to a problem. So if students wants to apply credit card, they should choose lower credit limit card or if they are not good in control spending, they'd better don't use it.

ben_bening said...

I think it has advantages and disadvantages. Firstly, one of the advantages that we can get is we can help us in payments in case we don't bring any cash. If the payment must be in cash, we can purchase the cash from many ATM. Then, we shouldn't be afraid of lost of cash or being mugged, because the credit card is secured by PIN entering. For the disadvantages, sometimes we can't push our expense because of it easiness and it will cost us some money from our account as the fee for the bank periodically. Finally, I can conclude that the benefit that we get is more than the disadvantages and I suggest all of students to have it one and use it carefully in order learn how to be a well organized people in finance.

Anonymous said...

I think it's good that students may use credit card. But they, as any person who use it, have to understand that one day they will have to pay for bills.

Nalleli said...

Actually, the credit card is a good innovation that we can use, but, I think that before obtain it you need to know the rules, regulations and diferents fees that aply it. I think the students can use a credit card, but this should be regulared for their parents, and with this the students to know how carry off spend theirself in a hole over their lives.

Anonymous said...

credit cards have both advantages and disadvantages not only for the students but for all of us. i've just booked cheap tickets from the internet using my card bleu, but on saturday's purchases i can't control my spending limit. so credit cards are a good way to save money if only we are using them with caution.

Anonymous said...

normally the a young pepoles spend money in silly stuffs so, it's hurt them in the. it can not hurt them if they control thier spending.

Anonymous said...

I think that the management of credit card is an art and not much people can do that.
If you can manage wisely your own money then you can manage a credit card because you know how much money do you have and what your limit is.
In my personal case, before I get my first credit card I was a lot time buying with my cash when I found I can manage my cash I accepted the card but, I knew that I can do that and now, I still have a control of my money.

Anonymous said...

Actuilly, I think have a credit card is not a bad thing,depending on how you use it, and beford you apply a credit card, you should do some homework about comparing the offers from credit card and which kinds of cards are suitable for you, for exapmle if you take airpalne often then you can consider about airline miles cerdit card and so on...I mean if you choose a right credit card and use it in a right way ,then you can even get some extra bonus from bank...

Anonymous said...

I am going to write down an example. My mother has more than three credits card. First, she applied for a credit card. Second, she spend the hole amount of money from the card. Then, she applied for another card because she wanted to pay the first debt. And so on and so on... As a result, she has three debts. Now she is paying more than half of her salary on interests. I hope to help her to pay her deptеs.

cutedingding said...

Credit card is a invisible killer. It makes woman shopping on an impulse.

Albert said...

In hong kong, banks provide different kinds of credit card to student for examples HSBC Classic card andHSBC Gold card.
The limit of classic card is low than gold card.the classic card is suitable for students to apply. As we all know, students in hong kong can gain access to a lot of new things, so they may easily use their. When they overuse the card, many students may have debt in their life. So if students apply for the classic card because of low credit limit. They cannot overuse a lot of money. It can avoid students overuse money.

novenencia said...

initially I dont think credit card
has disadvantages.If a person can control his desires logically,he or she can use credit card very usefully

Anonymous said...

mar....

i think which the credit cards are the best option for our the students because the parents dont always give us a lot of money.

Anonymous said...

My last trip was to Chinauta. I went with other teenagers for camping. It was great. We did lots of activities.
My image of the perfect trip is going to Uruguay. Go to its capital Montevideo, because of its beaches. I would like to go to a five star hotel and the cost of it is free beacause I won it in a lottery.

Anonymous said...

I think is the best way to travel abroad without cash money, for taking the national currency.
Be careful with your bill and have a short limit, that's the point.

Anonymous said...

I think credit cards are very dangerous. Often, students who get credit cards ruin their credit before they ever finish school. It takes them many, many months, and sometimes years, to fix their credit rating. They should think a very long time before getting a credit card!

svenja said...

Here in Holland is using a credit card not popular. I use pin only. The most of students are shopping addict and I think that those students who use credit cards can come in financial problems in a while.

Andrea said...

It's easy to spend a money, bud hard to earn it... Everybody buy sometimes anything he/she doesn't need, bud we can't do it more often that's healthy. For example at the Christmas - I hate consumption Christmas, when children think, that ist the point to get as much presents as possible and don't think about more important things... Credit cards make a consumers from us, cause we don't see money physically, when we buy something...

Anonymous said...

In my opnion, student credit card is not a bad idea. If the students use it with responsability, could be the best way to be able to manage their own finance. But it could cause a lot of problems if it is use without control.

Anonymous said...

in my country People started to use credit card recently about five and six years ago. So One of my friend began owe his own credit recently. But He never uses it. I saw there is drawbacks to use it. it spends more time than uses a cash in here.

Pivovarov said...

I think that using credit card is a very responsible deal. So, first of all you should plan your monthly budget according to your needs and income. Only after doing this you can start buying various stuff and pay for different servises. Also you musn't forget about the so-called buffer limit - this is a summ of money equal to 10% of your card limit, which will help you to cope with your unpredicted financial problems. Anyway, student credit card is an essential instrument to join full and bright student life if you follow the rules above.

Anonymous said...

I have always been avoid to have a credit card even if it seems interesting to get a good credit
Is a blade of two 2 sides if we don't use it correctly, but most of the times we get into debt, it bring to me a peace of mind could sleep without having trouble because of debt, is better set a goals to save money than spend money even if we think we could pay latter

-chasu- said...

I disagree using a student credit card. I also have a trouble in finance. Usaually, I spend myself in a hole because I can't controll my shopping habits. I really like buying something in any store. so I can't stop buying with the credit card. In my case, it seems like I'll have a debt using a student credit card.

soo-jung said...

I disagree using a student credit card. Usally I also spend myself in a hole because I can't control my shopping habits. In my case, I cannot help reducing my shooping impulse whenever I want to buy something. In conclusion, using a credit card even if for student it is unbeneficial to shoppaholic person.

juan blanco said...

from my point of view is depending the student if the student is responsable is good because it help but if the student is not responsable is hurt to the student.
it also depend the money that the student have.

fifi0821 said...

I think if someone who can balance their budget , using credit card is not bad for them. Take me as example, it is very convince and safe to use the credit card. When I go out I don't need to carry too much money. And even if I miss my card, I just call the bank service that will help me to lose my money. On the other hand, using credit card sometimes also have discount like buying ticket, gassing up and buying some stuff. I think depend on how do you use credit cards. They may help you but also can hurt you.

susan said...

In general, having credit cards is good chance for students to manage their finanical condition. Of course, credit card companies should closely contact with their parents because most students do not have income. So, if the card companies can take time to set up the wholesome mechanism and customerize for student cards, I think most people will agree with the card-holding students

Camila said...

I think a credit cart for students is the best business for a bank. Student are the perfect consumer. Definitely they can't control their impulse for buy unnecessary things and that the banks needs.
We live in a consumer culture. And students are the perfect client. First of all we should know the concept of invest and after that the concept of spent but looks like capitalism tough us a reverse trick.

Camila P.

Anonymous said...

Having a credit card ,as cellphone,is convenient to use in our lives today.That's why most students loves to apply for credit cards before going to collage.It is the easy way to get what they want that thay don't pay with cash.If students can't control their impules,having a credi card is very dangerous.Because spending more momey than you can afford is unwise and ridiculous,and can lead you to financial problems.
I am a Mom of two kids.I only use the credit card to purchase gas,living stuff , kids' tuition and momthly bills. Otherwise, I pay cash to buy things that I want not I need, so that I can control my budget. It's a good way not to burn my momey.

I-Hsuan

parisa said...

having the credit card is the way to buy stuff easily without having the cash but if the students dont have sufficienf money they absolutly send themselves in to the hole becuse they dont care about paying back the mony when the are really shopping mania.

Liliana said...

I think credit cards are not good for students because they aren’t conscience about bills they have to pay after. Maybe, first they need to work and learn how hard could be pay bills with their own money, and after that use them. But in general I’m not agree with credit cards because even for adults is hard to use them wisely.

Escuela Deportiva San Juan Bosco said...

When I Was a Student had to very dificults for buying stuff that I Want. Banks did not borrow me. now I see all is easier for actual student for example: Travel, buy very nice dress,have a PC. Credit Card is a very good oportuny for students with so many dreams and few money.

LIU RENCHUN said...

Students having a credit card is not a good idea. At first they don't have enough income to pay back the money they have spent. And not all of them have the self-control to conduct their budget, which finally leads to failing to pay back. Worsely, they may finally form a habit of rely on their parents, and lose their independence.

Anonymous said...

I am still a student and a few years ago, I asked my bank for an international credit card because the card I had before did not enable me to withdraw money in other countries. I do not think getting a credit card is difficult in Europe, particularly in France, where I am spending some time now. The trick is to learn to use the credit card so that you really curb the expenses. Having your credit card in your wallet is good because something might happen to you and make you need money. However, there are people who cannot control their impulse to buy anything they need -- even an underground train ticket -- with their credit cards because it can be used from one euro on in France. Perhaps, a solution would be to withdraw some dough for everyday expenditures and keep your credit card in a safe place at home and out of sight so that you do not use it too much.

Anonymous said...

in my opinion, credit cards have both advantage and disadvantage. students often study far away from their home town, so having a credit card makes their spending money is much more convenient for student because they don't have to wait until their parents send dough to them. in addition, payment by credit card is more security than using cash, you don't have to hold too much money in your pocket. however, using credit card without a wisely financial plan can lead to big money problems. if they can't control their shopping habit they can spent themselves in a hole, and certainly their parents would be the person who pay the bills.
in conclusion, i think students should be taught about using credit card more effectively and control their financial budget.

val said...

I think that there is a profit for banks when they provide credit cards for students. Students spend money impulsively with a sky-high interest rates.

lily zhang said...

Bascially it will depends on whether you have a good financial plan, if you clear know your budget, it will be very convenient to own a credit card.

Anonymous said...

I don't think is a good idea allow student to obtain a credit card. When you are young you aren't so mature that you can handle your purchasing, you do unawares everything.

Anonymous said...

In my opinian, there is a many advantages having a credic card, specially beucause is the main way to npay pichases made by internet. Buy by internet is so easy and pratical. But in some cases is better think about other opition such as when you trip, becase of fee.

james said...

I do not think this is a good ideal for student have any credit cards.

james said...

I think student credit cards is a bad ideal because it will make bad habit to student.

Anonymous said...

Credit cards are quite convenient so that we don't have to carry much cash or to go to a bank to borrow money. On the other hand, we have to keep in our mind that we tend to spend more money than when we do not have any credit cards as if we had a magic card that can buy anything you want.

Anonymous said...

I think that is good to have a credit car because it is possible to buy or get things when you don`t have cash, but is bad because you use money that is not yours. SANTIAGO GUERRERO

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