Why and When? (Newbie: Please help )

andrea.l_2

Hi,

Why and when should I get a credit card? Should teen and college students have a credit card?

Thanks MSE
Andrea

grumbler

If you don't know why, then you don't need it. If so, the only reason for getting it is starting building your credit history for the future. However, this is a double-edged sword as many people are incapable of resisting the temptation, and reach the opposite result.

Normally a credit card has to be used on purchases only and the balance has to be paid in full each month. In this case you are getting a short-time interest-free credit and, possibly, some extra benefits with some cards, like a small cashback on purchases.
You have to be 18+ to apply for a CC.