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Should College Students Apply Credit Cards?
#1
My aunt always told me you cannot afford a credit card if I do not have a steady income. Colleges offer financial aid and programs which help students with financial needs. I believe community college should be recommended for students that might have to rely on credit cards. I have been in a community college for two years, and never took out any loans or apply for credit cards. I understand the importance of building credit to buy a house and cars. I am living well debt free taking public transportation and using my financial aid wisely. Interests are what kills college students from living a worry-free life. What do you guys think?
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#2
Your aunt is quite right, some companies don't allow students to avail credit cards because they know that they don't have a work yet so it will hard for them to collect payments for students. Though you can avail credit cards if your parents' will allow you to have one and they're the one that would pay your bills. We can't blame credit card companies for taking some precautionary measures when someone is availing credit cards. It might cause bankruptcy if credit cards companies are allowing everyone to have one. But I think the government should take an action for financial aids for students. In some countries, they have programs for students called pay now pay later. Maybe it should be implemented in all countries so all students have the opportunity to finish their studies.
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#3
It depends on the situation. If it really is a need, then why not. Having a credit card could actually be a strategy to limit your expenses as you have to control what you buy. You also get to evaluate yourself, see what things you should not have bought, or what you could buy next month. Credit cards also offer 0% interest rate on some items, gives rewards and you get to buy an item which you could pay later. It is also safer than keeping money personally because chances are it can be stolen and not be retrieved anymore. With credit cards, you're finances are secured as you can block it in cases of theft.

But having a credit card is sometimes tempting, and can lead you to buy things which are actually luxuries already and not needed. So it takes discipline and self-control to be a successful credit card owner.
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#4
(12-31-2017, 07:07 PM)Robbie626 Wrote: My aunt always told me you cannot afford a credit card if I do not have a steady income. Colleges offer financial aid and programs which help students with financial needs. I believe community college should be recommended for students that might have to rely on credit cards. I have been in a community college for two years, and never took out any loans or apply for credit cards. I understand the importance of building credit to buy a house and cars. I am living well debt free taking public transportation and using my financial aid wisely. Interests are what kills college students from living a worry-free life. What do you guys think?

This is true, if you don't have a steady source of income, there is no way you can operate a credit card successfully because of the charge that comes with it. As a student, having a steady and stable source of income is always difficult which is why it's not encouraged for students to have or apply for credit cards. 

Not long ago I wanted to get a dollar card here and from my inquiries I was made to understand that I would be charged $20 for the card maintenance on annual basis. So therefore, you can imagine if I'm not having a steady income and have $20 charges on my card always, in no long time I would go broke.
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#5
Its not a good idea for a student to have a credit card. Students age is the most sensitive, uncontrollable, aggressive and unpredictable stage. First, students cannot get credit card if they don't have the requirements (i.e. work with pay slip, government valid i,d's, etc.) unless parents will provide for them (supplementary). For a student they don't have enough knowledge yet in budgeting. Yes, they are too young enough to handle debts that might get them in trouble soon that would lead them in distractions and out of focus on their studies. They are very sensitive that might get tempted to buy things which is unnecessary. If an employed individual happens to mismanage their credit card, how much more a student that don't have even an income. So students shouldn't apply for credit card.
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#6
It is not necessary for a studet, a college student to have credit card , Because you dont have a steady income and how sure are you that you can pay your debts sometime?. It will be a risk for a student like you to apply for a credit card , just be happy that you are debt free right now because there a lot of people out there whos house is taken by the bank because they cannot pay their debts.
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#7
While credit cards can help students build their credit early on, I don't think it's smart for students to acquire credit cards on their own. It takes financial maturity and discipline to handle credit cards well and most students are not mentally and emotionally prepared to handle debts. Credit card debts can balloon to unmanageable levels and may hold the student back when he/she starts a career. If they are not paid in full, student credit cards are typically subject to higher interest rates than regular credit cards and that will easily offset any rewards that card providers may offer.

Students are better off with debit cards or prepaid cards because these cards not only help them build credit, they also train them to live within their means.
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#8
When I was in college, I could not get approved for a credit card because I was in college and did not have a full-time job. I guess times have changed.
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#9
(01-01-2018, 06:38 PM)Michael Puttman Wrote: When I was in college, I could not get approved for a credit card because I was in college and did not have a full-time job. I guess times have changed.
I would like to share a story about my cousin when she was in college her mother gave her a credit card. My aunt regretted that decision because instead of convenience, it just resulted for my cousin to spend too much and no care what she is going to buy. Therefore, it is not advisable for a student or college to have their own credit card because they are not mature enough in proper handling of their finances. Youths are reckless because they still figuring out how to value things. So, for me, a person should have credit card if they already have stable source of income for them to know how to value money and managing their finances. I will advise debit cards because with it the money limited. Through that it also for them to budget their money.
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#10
For me, the idea of college students getting a credit card is somewhat risky but really depends on their situations needed. Like if they really need to get for their school then go get one, but if you're only using it for buying somethings then it would be a risk, spending some money recklessly may happen if they don't take it seriously.
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