02.12.10 | Do I need a credit card for college?
With all of this talk about credit it is hard for high school and college students to weed out the good information and advice from the bad information and advice. Some people preach that credit cards are evil and that there is no need for a student to have one. Other people say that every person over the age of 18 needs to have a credit card. So which is correct? Do college students need a credit card to get by?
The truth is that no college student ever absolutely needs a credit card. However, if you are a student thinking about getting one there are some major pros and cons.
Pros – Reasons to Get a Credit Card
- It is good to have in emergency (and I really mean EMERGENCY) situations. If you are on the road and your car is running low on gas and you have no cash you can use your credit card to fill up.
- It helps build a credit history which you need to do almost anything in the adult world like buy a car or rent an apartment.
- It teaches you responsibility. Having a credit card and making monthly payments teaches you how to budget and plan your spending accordingly.
Cons – Reasons Not to Get a Credit Card
- The temptation to spend is greater than it is with cash. It is much easier to swipe a piece of plastic than it is to hand over a pile of bills.
- Missing a payment or building up too much debt can seriously harm your credit score.
- You could develop bad spending habits at a young age.
What it boils down to is that as long as you are can exercise self-control, and spend only what you can afford to spend, having a credit card is actually a good thing. If you are someone who cannot exercise spending restraint then having a credit card could be really bad. Credit cards are only evil if you let them take advantage of you.
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I think that a debit card is better because i can waste my money only.
March 21st, 2010 | #
Credit cards are important, but they can sometimes be tricky to use…. You need to learn how to manage them well.
March 16th, 2010 | #
It is all about self control and maturity…. anybody can have one
March 14th, 2010 | #
I think that credit cards have a ton of more pro's and con's than this list offers, but i guess these would be more specific to college students.
March 15th, 2010 | #
Thanks for the advice
March 14th, 2010 | #
I don't think credit cards are a good choice.
March 14th, 2010 | #
I don't have a credit card but I am definitely considering getting one.
March 13th, 2010 | #
I do not think students need a credit card. with a credit car the student is just going to be owning money to the banks!
March 12th, 2010 | #
Thanks for the very helpful information.I'm really considering applying for a credit card just to work on my credit.I will think twice before I actually use it though! =D
March 12th, 2010 | #
This really has me thinking of getting a credit card.
March 12th, 2010 | #
Thank you so much!!! I am currently thinking of ways that I can start up a good credit score and I assume that a credit card is a good start. Thanks for the infor.
March 11th, 2010 | #
Avoid late fees!!
March 10th, 2010 | #
why even spend money if you dont have it
March 10th, 2010 | #
Good information! Really thanks!
March 9th, 2010 | #
Credit cards are fine if you know how to manage your money
March 8th, 2010 | #
It is true when you say that not every college student needs a credit card, no one technically needs a credit card, but it is definitely good to have to build and stable good credit. You should not get a credit card if you are not in control of what you spend and do not record what you spendin your checking record book.
March 7th, 2010 | #
I agree, but if your not supper careful or super responsible u could get into a lot of trouble.
March 6th, 2010 | #
i do not need a credit card to pay my stuff
March 6th, 2010 | #
Credit cards are good to build up credit, but some people go out of control once they get one and interest and payments build up quickly!
March 5th, 2010 | #
A credit card is a great way to have access to emergency credit funds and build credit.
March 5th, 2010 | #
Since I will lbe away at college a credit card would come in handy so I would not have to carry cash all the time.
March 4th, 2010 | #
I need a credit card because it comes in handy when I need something and just do not have the funds.
March 3rd, 2010 | #
You don't need to have a credit card to pay for things they only get you in debt.
March 3rd, 2010 | #
Credit cards are not a bad idea, but they are definitely not for everyone. I am probably going to just use a debit card my first years in college and wait until I am 21 to get a credit card, just so I have a few more years of having financial responsibility before I start to build credit.
March 3rd, 2010 | #
I think having a credit card for college is a bad iead! You will be tempted to sped that money on other things that you do not need.
March 3rd, 2010 | #
Great information. I will defenitly consider getting a credit card.
March 3rd, 2010 | #
Once I entered college and I realized I didnt have my parents by my side to buy me anything in cash or with their own credit cards, I noticed that I needed a credit card of my own. I got a credit card but its not credit its debit therefore it has nothing to do wih a credit. I think its a great idea to have a credit card of your own because it teaches you the true meaning of responsibility and managing your own money in the correct way. If you think that you can deal with the pressure of not spending too much money or going over your budget when you go shopping for food or clothing then I dont think that a credit card is a bad idea at all.
March 3rd, 2010 | #
I think it's a good thing to have a credit card just in case of emergency or something else.
March 2nd, 2010 | #
I think if you are a full-tim student a credit card is not a bad idea if you get the student credit card. That way you do not have to pay for interest and when you start making the big bucks pay it off. Remeber to only use it on school funding though.
March 2nd, 2010 | #
I, myself, have a credit card. It helps pay for small and large things needed to prepare for school
March 2nd, 2010 | #
I think credit cards are bad news. I always want one, and I always max them out. It's horrible to always owe money other than your neccasary bills.
March 2nd, 2010 | #
it's a good way to build your credit for the future but if you're not careful you may also set yourself up for bad credit.
March 2nd, 2010 | #
Its good to have a credit card in case of emergency, But hard to get one if you don't have the best of credit
March 1st, 2010 | #
Be careful, make sure you do not just pay the minimum balance per month. PAY the FULL amount or the interest will kill you!
March 1st, 2010 | #
Beware, Credit card companies attempt to woo College students who do not understand the whole finance charge issue. They are quick to send you to a collections agency after adding finance charges and interest to you account making it impossible to pay. The only responsible use for credit cards is to pay them off at the end of each month. This method does not allow the credit card company to assess interest charges.
March 1st, 2010 | #
"Once I give you this credit card, don't ever use it!" The best advice I heard…
March 1st, 2010 | #
you should be very careful whne having a cerdit card because you dont want to end up having bad cerdit
March 1st, 2010 | #
that is right you have to be responsible and know how to handle a credit card, i am a person who only uses cash. using cash helps me because i know my limmits and i won't have a problem of spending money that i don't have
February 28th, 2010 | #
i think debit cards are the way to go.
February 28th, 2010 | #
Its scary
February 27th, 2010 | #
It's nice to hear someone else view on this. I think for emergency purposes when I am in college. My college and my families home are quite a distance away.
February 27th, 2010 | #
You must be responsible to use a credit card
February 27th, 2010 | #
I got My first credit card and I do say it is hard to keep what you charge on it under control but It is great when you Dorm away from family and have to buy a lot of times at once like I have to for art classes
February 27th, 2010 | #
credit cards are the only way young adults can build up a good credit report. however, responsibility is the key!
February 26th, 2010 | #
Right now I use a debit card and sometimes I spend a little more than I should. I know that if I got a credit card I would probably spend like crazy. I do think it's smart to have though to develop credit and would be a good lesson on how to budget.
February 26th, 2010 | #
True about the part on people may spend the credit card like crazy but if you know how to control yourself and use it like only when needed then I also think it's a good idea to get one.
February 26th, 2010 | #
If I remember correctly, it was Credit that caused the Great Depression. I think Credit cards are a bad Idea. I have never used one and I don't plan to, I plan on using only the money In my bank account or that I've earned myself to pay for things. I don't want to be a slave to a bank for twenty years.
February 26th, 2010 | #
It is nice to have a credit card, but you must be responsible with it.
February 26th, 2010 | #
Credit cards anr too much of a temptation t tthis stage of life. Also, the credit card rules are confusing.
February 25th, 2010 | #
I kind of wish the entire world would go "eletric" with their money…
February 25th, 2010 | #
yes we need credit cards to help establish our credit
February 25th, 2010 | #
I dont think that you need to have a credit card. they make you want to buy things that you want and dont need.
February 24th, 2010 | #
it is neccesary for certain purchases
February 24th, 2010 | #
I don't currently have a credit card, but hope when the time comes, I will exercise restraint and responsibility in using and paying off my credit card. I do use a debit card which has helped me tremendously in managing my money.
February 24th, 2010 | #
credit cards are good to have when you need them.
February 24th, 2010 | #
well good info thanks i'll get one to build credit for future and only for emergency,nice
February 24th, 2010 | #
i dont have one either but i agree its good too have, as long its responsible spending and you dont go overboard
February 24th, 2010 | #
Credit is money you don't have. Find a way to get the money you don't have. And I don't mean get the credit.
February 23rd, 2010 | #
true
February 23rd, 2010 | #
Sometimes it comes down to a matter of time. If you need to buy books for a class, you can’t always afford to wait a few weeks until you can work up enough cash to buy them… and that’s where a credit card comes in handy. It’s all about controlling the card, and knowing when NOT to charge things because you truly can’t afford them. Credit is only evil if you don’t stay in control of your spending.
February 23rd, 2010 | #
I don't have a credit card, not that I'm not responsible or anything, but because the economy is becoming terrible at handling credit so it might effect me in the long run.
February 23rd, 2010 | #
I have a credit card with a low credit line. I only use it for my books.
February 23rd, 2010 | #
I feel the bank/credit card companies are just thieves.
February 23rd, 2010 | #
You learn as you go.
February 23rd, 2010 | #
I wont have a cedit card i college
February 23rd, 2010 | #
Yes to build up credit for the future
February 23rd, 2010 | #
Credit Card is good when you need to start your credit
February 23rd, 2010 | #
Hey, this is a nice post. Everyone should have a Prepaid Debit Credit cards……..
February 22nd, 2010 | #
i have a credit card and it has helped me out when i needed it most and it is really a great thing to have, just have to use it for only the necessary things and never forget to pay it every month. and always pay it off every month or as much as possible never pay only the minimum
February 22nd, 2010 | #
I think if your smart then you should be able to handle a credit card. If your old enough to get a credit card you should be old enough to no what to do with it.
February 21st, 2010 | #
I don't have a credit card but i think is good to have one.
February 21st, 2010 | #
Credit cards are wonderful to have! Maintaining payments are extremely important!
February 20th, 2010 | #
I don't have a credit card, and I don't think I need one.
February 19th, 2010 | #
I do not have a credit card but I think its a good idea to get one to establish credit during school for after. Thanks!!
February 19th, 2010 | #
using credit card when need not want
February 19th, 2010 | #
I dont have a credit card and I'm in school and I'm doing just fine. they just get you in trouble.
February 19th, 2010 | #
i think credit cards are somewhat needed but not totally necessary. there are good things about them and then of course bad things. such as you could get yourself into debt, but you can buy the things you need to get ahead in school areas.
February 18th, 2010 | #
i think i do need a credit card there are things that i need to get taken care of!
February 18th, 2010 | #
I have a credit card here at college but it is not necessarily a necessity.
February 18th, 2010 | #
gotta stay safe with credit cards or it can ruin a good hand full of years
February 17th, 2010 | #
If you can’t control your spending habits without a credit card then do not get one. Also, if you think a credit card is there to spend when your cash has ran out do not get it because it will only be a temptaion. I personally use my credit card only for my gas or emergencies and then i pay it all back when my payment is due. It is needed though for emergencies.
February 17th, 2010 | #
I got my first credit card right before I started at Boston University in September and I found that it opens up tons of opportunities to save serious cash with points and rewards. I even found a student discount program that works with any credit card called Edhance. I registered my card and now every time I go to Qdoba, Edhance sends me 20% cash back plus I get the points for using my credit card so its like a double bonus…
overall, you just gotta be careful that you don’t spend more than you can cover at the end of the month. I have a $500 limit so I can’t get in too much trouble hehe :p
February 16th, 2010 | #
i believe credit cards are a pro if they are used wisely. i’ve had to use mine a couple of times to get out of sticky situations.
February 16th, 2010 | #
Is there a credit card in this site for students in Puerto Rico? Thank You!!
February 16th, 2010 | #
thanks helpful information
February 16th, 2010 | #
having a credit card will come in handy the person just needs to learn how to manage it
February 16th, 2010 | #
Im planning to get a credit card! Hope i can hadle it
lol
February 16th, 2010 | #
I’ve never had a debit or credit cards and while credit cards are great for emergencies I almost feel as if you would learn MORE responsibility from a debit card because you’re learning how much you can use and when and when not to use your card. As if you are doing more money management with debit, but I guess you could be learning a great responsibility with credit and learning NOT to spend with it, only dire emergencies practically. I don’t know, kinda hard. Depends on the person I guess.
February 15th, 2010 | #
this has helped me alot
February 15th, 2010 | #
thank you
February 15th, 2010 | #
I think students should work on building an emergency cash fund for emergencies.
February 15th, 2010 | #
I own a credit card and like everyone else says, it’s really hard not to spend money especially if you’re a girl, but a credit card helps a young adult learn how to budget, build credit, and it really gives a young adult an insight of the real world and how to become responsible.
February 15th, 2010 | #
I think debit cards are good
February 15th, 2010 | #
Credit is the most important thing we can have in life. Once it’s ruined, it’s hard to get back on track. Always pay down to a 0 balance if possible.
February 15th, 2010 | #
I disagree with the fact that college students should carried credit cards. It puts them in major debt and that not what a college student need during that point in life. Now if u a student that’s established in life, then I think you should acquire a credit card. Just in case u get in a hugh emergency.
February 15th, 2010 | #
Having a credit card is good to have in case of an emergency; however, the individual would need to be responsible in order not to create a high credit card balance.
February 14th, 2010 | #
I would like to clarify something in the post below; when I said, “keep up with the payments”, I meant, “pay the card balance down to $0.00 MONTHLY.”
February 14th, 2010 | #
This is very good advice that I did not consider before! I think that getting a credit card could be a good idea. I don’t have any credit, and I like the “using it for gas money” idea.
February 14th, 2010 | #
emergencies only! remember ccs affect your credit rating be responsible!
February 14th, 2010 | #
I would have one for emergencies ONLY.
February 14th, 2010 | #
A credit card will solve your financial problems in the current moment, but will only lead to much larger problems in the long run. I know some people who are still trying to pay off sally mae loans from over ten years ago
February 14th, 2010 | #
A credit card is a better option than a debit card IF AND ONLY IF you keep up with the payments; because, depending on the type of credit card you get, YOU could get cash back from the card company! Beware: if you don’t keep up with the payments, you’ll be paying THEM interest!
February 14th, 2010 | #
I think it helps a lot to have a credit card. I’ve seen too many people I know struggle because they needed gas or groceries and didn’t have the cash to do it.
The temptation though is bad, and it’s way too easy to build up a lot of debt and then you’re screwed for a couple years. If you’re going to get a credit card, only get one or two and hide them somewhere until you know you NEED to take it out (gas, groceries, the occasional birthday present).
February 14th, 2010 | #
Debit will not get you over your account balnce
February 14th, 2010 | #
I say if you don’t have the cash to buy it, you don’t need it, there’s plenty of free help out there and I speak from experience of having my credit all screwed up for life. You DON’T need a credit card. It’s nice to have but it’s not nice when it ruins your credit, stuff always happens.
February 14th, 2010 | #
yes, definitely
February 14th, 2010 | #
high school students do not need a credit card!! college students do for emergencies, books, and supplied just keep an eye on your credit limit line.
February 14th, 2010 | #
i think you’d want a DEBIT card
February 14th, 2010 | #
I think that people should be able to pay as the go. In that way people would live a life deat free.
February 14th, 2010 | #
I think that having a credit card is a good thing to have.
February 14th, 2010 | #
I think it id poddible to make it with out one.
February 14th, 2010 | #
Credit Cards are useful for quick and easy money but those who choose to use them should be cautious when using them. Remember to budget your money wisely.
February 14th, 2010 | #
Credit Cards can be a useful way to get what you need quick and easy but you should be cautious and budget your money wisely.
February 14th, 2010 | #
I have one credit card and it does make many things easier, but anyone that had one just needs to watch what they do with it and make sure they set a limit to what they wish to pend on it.
February 14th, 2010 | #
Students should have one to be used for emergency purposes only.
February 14th, 2010 | #
Yes, everyone should apply and have at least 1 credit card for back-up emergencies.
February 14th, 2010 | #
the last part of this blog is really true. If you can control you spending then its not bad to have a credit card, but I personally find it easier to just have a debit card that its kind of like the best of both worlds
February 14th, 2010 | #
Having a credit card and using it wisely depends on the type of person you are. If you are terrible with money, don’t get a card. However, if you know you can handle money and would use a credit card wisely, it’s ok to have one. Depending on how you use it, can you build good credit and teaches you responsibility.
February 14th, 2010 | #
I was always taught that credit cards are alright if you have the money to back up your purchases. I believe that this is a good rule of thumb because if you consistently abide by your rule, you wont get into financial trouble.
February 14th, 2010 | #
Credits are like everything else you have to know what u can handle. If someone gives you $500 dollars and its gone in hour u might no need a credit card because u night not understand moderation
February 14th, 2010 | #
As a person having 5 credit cards at one time, I got into a lot of trouble with them. I eventually messed up my credit, and I am now paying for it. If a college student must have a credit card, I would suggest only having one and not to spend more than you can pay back a month.
February 14th, 2010 | #
i dont think everyone needs a credit card because if you go over the amount allowed then you would owe more to the people that gave it to you than you ever though you would owe.
February 14th, 2010 | #
I agree with Drew. A credit card is a great way for college and high school students to build their credit scores. For your first credit card, I recommend getting one with a very low limit ($500 max) that way you can use it for emergencies and don’t have to worry about going overboard with your charges. As long as the cardholder is responsible and only uses the credit card for emergencies, they should be able to pay the balance down and not go into too much debt. Just remember that anything that you need should be purchased with cash if you have it on hand. If not, it is ok to use a credit card. Just remember not to use it too much and have the money available to pay your balance in full when the credit card statement arrives. It will save you the painful interest associated with credit card purchases.
February 14th, 2010 | #
Having a credit card is very helpful and an easy way to keep up with your money
February 14th, 2010 | #
I believe credit cards are important, but just have one with max $500 spending limit. This is great for emergencies but even if you do go overboard it is not by much.
February 14th, 2010 | #
I think it is a good idea to have one. I use it to pay for books and then I don’t have to pay it all at once.
February 14th, 2010 | #
Credit cards are a necessity, but should only be used in cases of an emergency, and the bill should be paid in full before any interest charges are applied. Unfortunately, we need some debt to establish credit, and if your family is middle-class income, you’re not entitled to many scholarships or grants, since many are based on financial need. Due to this, cash flow may be a problem sometimes, and sometimes there are emergencies when you really need something.
February 14th, 2010 | #
Its good to have a credit card, but make sure to pay your bills on time!
February 14th, 2010 | #
i agree credit is needed to get the things needed in life. but i have problems with managing my money. a credit card will, yes, let me have the money when i need it, but at the same time i believe is it actually worth the intrest afterwards. if you need something right now and dont have the money for it, then yes. but if it is something silly like going out for dinner, or to buy a game to past the time… then no.
February 13th, 2010 | #
I believe everyone doesn’t need a credit card. I personally stop my credit card because I am one of those people who often spend to much. I think having a credit card can give you credit, but it’d not worth it if you don’t know how to use it wisely.
February 13th, 2010 | #
I agree with the pros and cons of a credit card.
February 13th, 2010 | #
Credit cards are only a bad idea if you cant control it. you know its there and you are going to be tempted to use it. i would like one for emergenies and if you only use it when you need it then you wont have this huge bill at the end of the month. if you keep it small you will be able to keep the bill low and your credit score good. when you have a good credit score then you have a much better chance at getting loans and other things.
February 13th, 2010 | #
I don’t have a credit card, and I still don’t want one.
February 13th, 2010 | #
are there credit cards that I can get even if im going to school full time and not working rite now?
February 13th, 2010 | #
college students without jobs have no money to pay back credit card bills; therefore, not a good idea to obtain one. Maybe student should look for part time work to save up the money necessary to meet requirements.
February 13th, 2010 | #
if you have bad spending habits or dont have a sure way of paying your credit card bill then you dont need one.
February 13th, 2010 | #
vry good info, I had one credit card & it didn’t work out to well. Reading this now I know the actual pro’s & con’s of them all!
February 13th, 2010 | #
I think that a credit card is vital to college students. In this day and age almost everyone has a crdeit card. All of the Pors listed above are very reasonable, but one that they left out is that which is more likely to be stolen a small piece of plastic or a huge stack of money? Even if the card was stolen u can call the bank and cancel it. A con listed was the hole-in-the pocket syndrom that most people get with most money, but most college students are there to learn more as responsible adults and if they are doing this then they should be able to control themselves.
February 13th, 2010 | #
Debit cards are much better since they don’t get you in debt, plus they have all the convenience of a credit card. I would suggest students have a debit card and to avoid credit cards for as long as possible – student loans have enough debt incurring ramifications without the added burden of credit cards.
February 13th, 2010 | #
I think credit cards are good for emergencies, especially if you’re on your own. But you definitely have to be careful not to just use it because its there.
February 13th, 2010 | #
You don’t need a credit card in college. Credit cards are a horrible way of messing up your credit score. Most college student cannot manage money at all and that is a curse with a credit card. It is best to just have a debit card…spending your money is always better than something you have to pay back.
February 13th, 2010 | #
You really don’t need a credit card. Credit cards tend to help college students run up debt quick. Being in college isn’t easy but t is better to spend money that you have. keep a debit card instead of a credit card, because most college students are careless with money.
February 13th, 2010 | #
i think that a credit card is a personal responsibility that is like anything else, if it is used responsibly and respected for what it is than it will be a good thing. if used and abused it will only get worse and hurt the person using it.
February 13th, 2010 | #
this is good advice. owning a credit does take a lot of responsibilities. we are materialistic people and want to purchase everything, credit cards are just destructive when it comes to debts.
February 13th, 2010 | #
A prepaid visa or master card is the way to go for college students. Almost everyone I know with an actual credit card runs it over the limit and accumulates debt.
February 13th, 2010 | #
I think it’s required for emergency purposes and for the intended purpose that you’ll be able to pay it off. If you’re bad with money, I wouldn’t suggest applying for one.
February 13th, 2010 | #
Credit cards are not good investments.
February 13th, 2010 | #
I think having one credit card, just for emergency’s is good. You need to have something to build your credit. If you use it make sure that you make the payments and pay on time. If you don’t that is when it hurts your credit and does you more harm than good.
February 13th, 2010 | #
Yes I think it is okay to maybe have one card for a emergency.
February 13th, 2010 | #
When used for the right reasons a credit card can prove very useful while gaining your degree.
February 13th, 2010 | #
Credit card can be a devil’s tool to college student. We all know that the economy is really biting, therefore having credit card will add to the unnecessary debts to student.However, having one credit as well manging very well is advised.
February 13th, 2010 | #
Credit card companies, and student loans are a vicious cycle. I recently decided to applied for a credit card and they attached a balance of $180.00 just to start! It was for fees taxes and misc charges. As for the loans, forget it. Only the rich need to apply. I have to drop out of school because I cannot recieve any help.
February 13th, 2010 | #
A credit card is good to have in case of a true emergency.
February 13th, 2010 | #
I think that having a credit card for emergency situations is a good idea, but the temptation to buy more things just because you want them is very real and don’t think that it wont happen to you because it can happen to anyone AND everyone! If you do decide that having a credit card my advice to you is to to set up a monthly quota that you can spend and please please stick to it! It is so easy to go over but stick to your plan and your credit card experiance will be a happy one.
February 13th, 2010 | #
I do not think credit cards are a need. Although if one wants to start to build their credit, it would be smart to get a flexible credit card, but use it extremely wisely because once the first payment is missed, it is downhill from there!
February 12th, 2010 | #
Credit can be a good thing but it can also do a lot of damage to a young college student. for some reason it is really easy for a college student to get credit even though they don’t have a job most times. a credit card can be very helpful for emergencies, BUT ONLY FOR EMERGENCIES!! as a student they are too hard to pay off, so be very careful.
February 12th, 2010 | #
great news consal all your loans
February 12th, 2010 | #
I think having one credit card is good for emergencies and start building some credit. I also think think that if you’re going to have one you need to be very responsible and manage how you use it.
February 12th, 2010 | #
I think debit cards are a much smarter option.
February 12th, 2010 | #
I would like one credit card for to buy my books with I am having a hard time buying books for class.I only use it for emergencies.It’s ok for one cards
February 12th, 2010 | #
that’s really good advice
February 12th, 2010 | #
I think a credit card is important for emergencies. Students should be careful, though, not to rack up too much debt. I have a credit card that my parents pay for but it’s only for gas and emergencies. i don’t know what I would do without it.
February 12th, 2010 | #
thank you for the info..i learned that maybe i can wait for a credit card….
February 12th, 2010 | #
Credit cards should only be used in emergencies as a tool or to establish a credit history. Have a plan for paying it off and stick to it.
February 12th, 2010 | #
It is good information
Credit card is a great and important tool to have to build up credit and a future life.
February 12th, 2010 | #
Having a credit card is a great idea for true emergencies, at least until you can put about $1000 in an emergency savings account, then cut up the cards and leave them behind! For everything else however if you don’t have the cash you don’t need it that bad. When I first started college the guaranteed credit card invites came rolling in, and I ended up with about 4 or 5. It doesn’t take long to reach a minimum balance when you are in school without an income, and the interest rates are insane! It took me years to get out from under those bills, and I am glad that I did! Bottom line you want something save the money and pay cash!
February 12th, 2010 | #
Great advice!
February 12th, 2010 | #
good advise
February 12th, 2010 | #
I believe that one must be wise in the expenditures of purchasing things. Having a credit card can be a good or a bad. One just needs to be mindful and careful not to spend money they don’t have because that’s where young students fall into debt. Sometimes they fall so far they can’t get out.
February 12th, 2010 | #
I am in my second year of college and I do not have a credit card. I used to have one just for emergencies at the beginning of last year but the temptation to spend was always there and sometimes I just had to give in. I ended up just paying it off and getting rid of it. Now, my financial life is much better!!
February 12th, 2010 | #
YES you need one and not just for emergencies either. I learned to use my credit card in college and pay off the entire balance every month – it helped me track how I was spending my money, learn how to responsible pay bills on time and built excellent credit. My older brother never had or used a credit card…when he was 27 and tried to buy a house, he needed my father to cosign because he had NO CREDIT, while I on the other hand was 22 rocking the 740!
February 12th, 2010 | #
Only use in emergency, pay them immediatley
February 12th, 2010 | #
A credit card is a great and important tool to have to build up credit and a future life. As long as the card holder doesn’t go overboard with the spending, a credit card is a benefit for every person.
February 12th, 2010 | #
You do not need a credit card during college. If you get one how are you going to pay it off? Scholarships and grants are the way to go when needing money.
February 12th, 2010 | #
yes you need one for emergencies
February 12th, 2010 | #
I dont think you need a credit card in college; all that will do is make your debt even greater and harder to pay. Credit cards do not wait for payments until loans do.
February 12th, 2010 | #
1 credit card is good to have in case of emergencies, but college students need to be extremely careful with them! If not, they could end up having so much more money to pay back when they are done with school.
February 12th, 2010 | #
I think a credit card is a good idea depending on the person’s responsiblity. Credit cards can be very useful tools if used responsibly. Good credit is something required in this world, and a credit card is the easiest way to do it.
February 12th, 2010 | #
not bad but i really dont like credit cards. i had an “emergency” a year ago for $1100. and im still paying it off.
February 12th, 2010 | #
Credit cards can be very useful when cash is unavailable. Remember, buy now–pay later.
February 12th, 2010 | #
I think debt cards are a better way to go because the money you’re spending has more direct influences.
February 12th, 2010 | #
Although credit cards are a great source of building quality techniques from managing your account,limiting your self with how much spending you do to paying your bill’s on time, it could be either good or bad depending on how you use it,for what and the type of person you are. But i agree,if you are concidering getting a credit card start off with one first and see how well you handle that for a couple of months, that should give you time to decide weather it was the right choice or not.
February 12th, 2010 | #
Definately one for emergencies. That is it.
February 12th, 2010 | #
Credit cards are a great convenience but they can get you in over your head as far as payments go. If you decide to go for it, stick with just one! Juggling a handful of credit cards is more stress than they are worth.
February 12th, 2010 | #
I think having one credit card is a good idea, espeacially when students have to drive longer distances and may not have the cash necessary for the gas.
February 12th, 2010 | #
They should be used only for emergencies
February 12th, 2010 | #
which credit is best for a college student? Where can I get a free credit card?
February 12th, 2010 | #
Credit cards are a relatively necessary tool to begin building your credit. You’ll find it incredibly difficult to get a loan later in life without a card because you wont have a credit history, which is almost worse than having bad credit. Just get a card and use it for one thing… gasoline, small amounts of food, etc. And pay it in full every month!
February 12th, 2010 | #
a credit card should definitely be considered as long as the owner is going to use it ONLY for emergencies and not go overboard.
February 12th, 2010 | #
I do believe that having atleast one credit card if there are any emegencies.
February 12th, 2010 | #
The American students do not understand how or why these student loans institutions (Sally Mae, Inc and FAFSA) require four years of credit history to be accepted for a student loan. Apparently College students have to be in debt with credit cards or bank loans starting in the ninth grade through the twelfth grade in high school as a requirement to qualify for these loans. The College students do not understand why these lending institutions are using commercial loan criteria for students who desire to continue their education directly from high school. It was not the colleges students intention, desire or understanding that they have to be debt for four years starting in the ninth grade to obtain a student loan after high school graduation. The college student assumes the Federal Government is funding these loan institutions and question why high school students must get into debt in high school to qualify for these student loans.
February 12th, 2010 | #
I agree that credit is needed in order to obtain more reliable loan services but you want to only use the card with the guarentee of getting the money back. Smart idea is to buy some stuff with credit card and pay it off same day to obtain possitive credit. But a card is needed to obtain nondurable goods that cost more than you have at a given time but can afford to pay it off in intervals over time.
February 12th, 2010 | #