Credit or Debit?
It is a concern in America that too many young adults are carrying credit or debit cards. In a recent poll by the Junior Achievement program it was concluded that more then 11 percent of young adults carry at least one form of plastic. It was also said that some are even as young as 13 or 14. Also, 3 out of every 10 teens have checking accounts, many of which supply a debit card.
Having a credit card can be hazardous, but as long as the bills get paid on time it is an easy way to spend money. In the same poll, 82 percent of the teens with credit cards said they paid they bills in full every month. The remaining 18 percent have been getting themselves into some credit problems that could ruin them later down the line. Experts believe that giving a child a debit card gets them ready for credit cards. Being a debit card user myself, I am in agreement. I think I would get myself into too much trouble with a credit card.
http://www.msnbc.msn.com/id/7493536/
posted by Anonymous at
4:10 PM
2 Comments:
I've had a debit card for about 3-4 years. When signing the lease for my appartment this year I realized a big problem, I have no credit. I ordered 2 credit cards recently for the sole purpose of establishing credit. I think college students can avoid the pitfalls of borrowed money by simply using their credit cards like debit cards. I plan to spend within what I already possess. I'll just use the card for large purchases that I could pick up with my debit card but won't only to build credit. Seems simple enough...
By
Jason R., at 6:52 PM
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Jason R., at 9:43 PM
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