Do you think I should get a debit card when I turn 18?
Stephanie ♥’s Juan asked:
I’m planning on getting my own phone line when I turn 18 in April. It’ll be $45 dollars per month. I work a weekday job that pays around $100 a week. I need to pay for gas and I usually put my extra money in the bank. I can’t pay the phone bill with cash and if I find something I like online, I’d like to be able to buy it.I was thinking of getting a free debit card from my bank and using it online and to pay my bills, while still putting money regularly in my account. I thought it’d be better then getting a credit card.I also have a side account at the credit union that holds $5,000 that I’m saving for after college. Is this a good idea?
I currently got laid off of my weekend job and I filled out applications recently for another, so I’ll have some additional cash flow from there. I’m also a senior in high school, soon to be attending college in the fall at my community college.
Thanks.
I also was going to add the debit card to paypal so I can have additional protection if I buy something online.
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I’m planning on getting my own phone line when I turn 18 in April. It’ll be $45 dollars per month. I work a weekday job that pays around $100 a week. I need to pay for gas and I usually put my extra money in the bank. I can’t pay the phone bill with cash and if I find something I like online, I’d like to be able to buy it.I was thinking of getting a free debit card from my bank and using it online and to pay my bills, while still putting money regularly in my account. I thought it’d be better then getting a credit card.I also have a side account at the credit union that holds $5,000 that I’m saving for after college. Is this a good idea?
I currently got laid off of my weekend job and I filled out applications recently for another, so I’ll have some additional cash flow from there. I’m also a senior in high school, soon to be attending college in the fall at my community college.
Thanks.
I also was going to add the debit card to paypal so I can have additional protection if I buy something online.
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May 27th, 2010 at 7:04 am
yes you are right the debit is better than the credit. and i suggest u get that job fast bcuz of the economic meltdown and everything else. so good luck.
May 29th, 2010 at 9:20 am
I THINK THATS A GREAT IDEA. I WISH I WOULDVE THOUGHT LIKE THAT WHEN I WAS 18. YOULL BE ABLE TO PAY YOUR BILLS AND BUY THINGS AT THE SAME TIME AND NOT GO INTO DEBT. YOUR ON THE RIGHT TRACK!!
May 31st, 2010 at 1:47 pm
Hmmmmm.
I’m from Toronto, so the laws might differ.
I’m 44 and I’ve never got a credit card, and was well into my 20’s when I got a debit card–other stuff got in the way.
Presumably, as your debit card is good as long as you have money in the bank, you might be able to have one at any age.
Back in the early 80’s, before I was 18, I’d submit cheques (checks) for payment at a retail store and they accepted it.
I generally prefer to pay in cash.
June 1st, 2010 at 6:42 am
Debit not credit. Take it from someone who went the credit card route and now is in credit card debt. If I were you, I would never have credit cards. When you obtain a credit card, you are basically borrowing money from the bank that offers the card. You can use the debit card for anything. Also, you mentioned that you have a credit union account. You could get the debit card from them. Hope this helped a little.