By YAP YING YING
These days, it is very common to see students with a credit card in their wallets. You will usually see them shopping by using their credit cards, hanging out at a café and even going to club by using their credit card. Is this a convenience or is it becoming a necessity for them to own a credit card?
I have no credit card with me. I think it is still not the right time for me to hold a card now. However, I would think that it is all depending on our personality and our spending habit. And yes of course, this question throws back to our parents, as they should understand whether their children spend money wisely.
“My mum has been influenced by her friends by not wanting me to have a credit card, she said this will spoil her kids”, said School of Communications (SOC) student Oscar Tong Han Ning, 23. By allowing children to spend our parents’ money, is the way of spoiling because children will tend to spend more and didn’t think that money is hardly earned.
“I usually use my credit card for emergencies purposes and online payment. I think it is quite convenient to have a credit card,” said School of Architecture student, Nicholas Han, 21.
Hong Leong Bank Finance’s expert Lim Su Teng, 27, thinks that a college student should not have a credit card. This is because they are still financially dependent on their parents’ money. Indeed, college students do need financial support from their parents and they will eventually double up their parents’ financial burden, according to Lim. This truth is what we can’t deny. We are still relying on them, especially the aspect of financial. Since ever we have born, or before we came to this world, we have already used their money. Do we still need to put more burden on them for our entertain purpose? The answer is, no.
On the other hand, SOC student Melissa Yeo Mei Yin, 23, who owns a credit card, points out another reason of having credit card. She thinks that it would be more convenient if she forgets to bring enough cash. “I will try not to spend any more except for food. This is usually the most common expense that I will spend on and of course the most expensive one. I have swiped my card for the amount of over RM1000 for a buffet but that was only once!”
I have been asking around in the campus, mainly students with a credit card. It took me some time to find those who are not credit card holder. I was numbed, as the ways of our spending were way too much. They have so many ideas for entertainment but not once remembering the fact that they are using their parent’s money. This is wrong!
SOC student, Cheng Meng Hui, 23, who does not hold any credit cards does not insist on applying for a credit card for herself. She does not want to have any burden at this age and she believes that she cannot even clear her bill on her own.
“I feel free without the burden of needing to pay the bills afterward in amounts which is definitely going to get way out of my financial ability. I know how much I can spend and how much to spend while purchasing goods,” said Cheng.
Lim suggests that students who have credit cards to use it wisely. She shares her client’s experience whereby a pair of parents was applying a credit card for their child. They are over pampering their child and allowed their child to buy a car without their permission.
In the end, the parents could not repay their debts that their child has accumulated and they applied for bankruptcy. Lim said that she has seen many cases like this. She added up and encourages us to use it wisely, and on the necessity. “Please do not be like one of those cases. If you have a credit card with you, that is the happiest thing in your life when you can start thinking on how and what to buy with your credit card”, said Lim.
Have you ever thought on behalf of your parents? They have been working so hard to ensure that we have a good life, good study environment, and good career path. So, in the nutshell, do not simply spend on entertainment purpose and save money for our parents. Applying a credit card is optional, but definitely not compulsory.
These days, it is very common to see students with a credit card in their wallets. You will usually see them shopping by using their credit cards, hanging out at a café and even going to club by using their credit card. Is this a convenience or is it becoming a necessity for them to own a credit card?
I have no credit card with me. I think it is still not the right time for me to hold a card now. However, I would think that it is all depending on our personality and our spending habit. And yes of course, this question throws back to our parents, as they should understand whether their children spend money wisely.
“My mum has been influenced by her friends by not wanting me to have a credit card, she said this will spoil her kids”, said School of Communications (SOC) student Oscar Tong Han Ning, 23. By allowing children to spend our parents’ money, is the way of spoiling because children will tend to spend more and didn’t think that money is hardly earned.
“I usually use my credit card for emergencies purposes and online payment. I think it is quite convenient to have a credit card,” said School of Architecture student, Nicholas Han, 21.
Hong Leong Bank Finance’s expert Lim Su Teng, 27, thinks that a college student should not have a credit card. This is because they are still financially dependent on their parents’ money. Indeed, college students do need financial support from their parents and they will eventually double up their parents’ financial burden, according to Lim. This truth is what we can’t deny. We are still relying on them, especially the aspect of financial. Since ever we have born, or before we came to this world, we have already used their money. Do we still need to put more burden on them for our entertain purpose? The answer is, no.
On the other hand, SOC student Melissa Yeo Mei Yin, 23, who owns a credit card, points out another reason of having credit card. She thinks that it would be more convenient if she forgets to bring enough cash. “I will try not to spend any more except for food. This is usually the most common expense that I will spend on and of course the most expensive one. I have swiped my card for the amount of over RM1000 for a buffet but that was only once!”
I have been asking around in the campus, mainly students with a credit card. It took me some time to find those who are not credit card holder. I was numbed, as the ways of our spending were way too much. They have so many ideas for entertainment but not once remembering the fact that they are using their parent’s money. This is wrong!
SOC student, Cheng Meng Hui, 23, who does not hold any credit cards does not insist on applying for a credit card for herself. She does not want to have any burden at this age and she believes that she cannot even clear her bill on her own.
“I feel free without the burden of needing to pay the bills afterward in amounts which is definitely going to get way out of my financial ability. I know how much I can spend and how much to spend while purchasing goods,” said Cheng.
Lim suggests that students who have credit cards to use it wisely. She shares her client’s experience whereby a pair of parents was applying a credit card for their child. They are over pampering their child and allowed their child to buy a car without their permission.
In the end, the parents could not repay their debts that their child has accumulated and they applied for bankruptcy. Lim said that she has seen many cases like this. She added up and encourages us to use it wisely, and on the necessity. “Please do not be like one of those cases. If you have a credit card with you, that is the happiest thing in your life when you can start thinking on how and what to buy with your credit card”, said Lim.
Have you ever thought on behalf of your parents? They have been working so hard to ensure that we have a good life, good study environment, and good career path. So, in the nutshell, do not simply spend on entertainment purpose and save money for our parents. Applying a credit card is optional, but definitely not compulsory.