Many college-age kids are first exposed to credit cards when they are in college, and many of them aren't aware of the dark side of using credit cards. I was one of them a few presidents ago, so I learned my lessons the hard way.
If a young person learns about credit cards by following the example of parents who have mastered credit cards, then there are 2 reasons for a young person to have a credit card:
- Establish a good record and therefore good credit;
- Emergency expenses (auto repair, anointing of the sick, etc.).
For anyone who lacks the self-control needed to use credit cards, stick with cash.
Posted Using LeoFinance Beta