Should students have Credit Card

Answer 1

Depends on Student and CriteriaFirst, credit vs. debit should be assessed. For college students, credit could be helpful because it is not directly linked to a bank account which means that if someone steals it, you are less likely to lose money - most banks even allow claims so you can get your money back. However, if the student is a heavy spender - debit may be helpful to limit the amount spent. If the amount is an issue - remember that cash always makes you feel the weight of how much you're spending. In answer to the question, whether a credit should be given to a student depends on maturity and also if the student is truly responsible enough.

• NOTE TO PARENTS: it means more if the student pays the bills - then they know how much they really are spending - holds them accountable.

A Student's Dilemma

No qualities of an ideal credit card applicant are possessed by a student, aside from probably being eighteen and above. In Australia, students are not the direct target markets of credit issuing companies mainly because most of them are not earning an income that reaches the benchmark, and they have the most tendency of getting carried away with a credit card's capacity.

However, it is still possible for the student market to enjoy a credit card's benefits, too. Fortunately, there are banks that provide options to students with no annual fees and zero interest rates. Others provide student benefits, but only to people who have been studying for two years at least.