Quote:
Originally Posted by huzaifa47
Well for one they wouldn't initially give you a credit card! Even with a guarantor I wasn't given one by TD. But I personally would avoid Credit Cards until it is completely neccesary, people can reaaally lose control!
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The Bank of Nova Scotia will give students a credit card if they approve their guarantor.
http://www.scotiabank.com/cda/conten...IDen,00. html I do think that a credit card is a good idea if a person uses it with incredible discretion and care, ie, only uses it if completely necessary, and
pays it off completely when the bill comes. Building a credit rating is a good idea.
I also think that some people aren't able to handle this kind of financial responsibility (regardless of their age and stage in life!!!) and should avoid them at all costs, but for many people they can be a very useful tool
Knowing one's self and being honest is really important when deciding what to do.