How Young People Should Handle Credit Cards

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How Young People Should Handle Credit Cards

Posted by ptmoney 1165 days ago, popular 1165 days ago (http://ptmoney.com)
Category: Personal Finance | Tags: college credit credit-cards debt kid

Advice for young people and college students on credit cards. Covers the basics and some pointers on handling them.

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WayneLiew 1165 days ago

As a 18-year old myself, I still don't have a credit card. I know that one should always leverage the credit card for something with expected returns, such as starting a business. People use credit cards for instant gratification and that is very very wrong.

wangarific 1165 days ago

I think credit cards useful for when you can otherwise pay for it but can take advantage of the float and the rewards. You shouldn't use it for anything you don't think you can't pay back in a month, whether it's "stuff" or a business.

faran 1165 days ago

I have always believed that a person should obtain, but not use, as much credit as possible.

I personally keep 3 no fee credit cards on hand at all times.

Two Visas, one a 1% dividend card and another with travel insurance.

One Mastercard, with a 1% dividend which I only use at Tim Horton's ;)

The credit build up will allow you in the future to have access to larger sums of money through loans if you ever come up with a big idea and need financing.

sunnyspeaks 1165 days ago

Here's the best solution - never opt for a credit card. Otherwise, whatever you do, the credit card companies will make your life hell.

TheStudenomist 1165 days ago

One thing people must realize is that credit card companies are willing to give any one credit. So do not feel special when someone gives you this "Card with money" because the price tag can be very steep.

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