Why You Need a Credit Card in College By: Daniel Gomez

Credit Cards. Every students dream and a parents worst nightmare. All the power to buy what you want right at your fingertips without having to worry about losing cash because it’s all condensed into one place. Though still there’s a number of people who don’t have credit cards in college. When going to college there’s a really big need for a credit card.

Debit VS. Credit:

Something that’s typically seen with many students is they use a Debit Card rather than a Credit Card. Though both are viable means of buying goods Credit Cards do have some benefits that Debit Cards don’t offer. First off Debit Cards work differently than Credit Cards, with debit cards how much money you have in your banking account is the amount you're able to spend for the time being. While Credit Cards work in the same way that loans do you can spend as much as you want but after a certain time the bank will bill you and expect you to pay for all that you spent in full.

Major Difference:

Debit Cards can pose a major problem for some student since most students typically work during college; many don’t get paid till the end of the month maybe longer in between this time they need to buy goods so they use their Debit Cards, and buy what’s needed, dwindling down the money they're able to spend till their next payment. If for whatever reason they need to buy something or pay for a major expense, and they haven’t been paid they're stuck with insufficient funds forcing them to live in a state of Debit Card purgatory. With Credit Cards you cut out this chance of “purgatory” all you need to worry about is paying off what's needed at the end of the month, not how much you spend and when you’ll be able to replenish again.

Go Plastic:

Credit Cards are extremely convenient; when given the choice of “paper or plastic” plastic is always the way to go, cut out the need to go to the bank to pull out money you want to spend. get a credit card and have the money you want to spend when you want it right at your fingertips. Not to mention the less of a likelihood that you'll lose your money. Many credit cards have a pin that allows you to shut down the card if it gets lost, stolen, etc. cash doesn’t come with that if it’s stolen you can't do anything to prevent it from being spent.