Do college students deserve to have a credit card?

Posted by Fitz Villafuerte under Personal Finance on October 19, 2011

I know people who have given their sons and daughters in college credit cards for their personal and not just emergency use. Do you think this is a financially sound decision for the parent?




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5 Responses to “Do college students deserve to have a credit card?”

  1. rins says:

    I think it is smart to provide your child with a credit card as early as possible. It would help develop financial maturity and value of money. But, I do believe that providing them with a credit card is not enough. Parents should also make sure that their child know the responsibilities that comes with the privilege.

  2. erds518 says:

    I think Not, DON,t give them CREDIT CRADS. to teach them to manage their financial expenses give them DEBIT CARDS instead with a prepaid amount in this way they will learn how to limit their expenses and also save

  3. erds518 says:

    There are many banks in the phillipines that offers this DEBIT CARDS that you can deposit an amount with a limit of 10,000 pesos so it can be managed easily

  4. jumnix says:

    i believe in debit cards instead. this would teach them how to manage their money. giving them credit cards is like giving a gun to a drunk man.

    hehehe.

  5. Fitz says:

    Hi jumnix, you’re right – a debit card seems to be the best solution.

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