It's been known that younger adults rack up the most credit card debt, simply because most aren't educated or even know what they are getting themselves into.
Having a credit card while in college can seem to be quite exciting because you get to spend money by simply swiping a card, even if you don't actually have any current funds at the moment.
This can be pretty detrimental to your credit and simple things you want to pursue in the future if you don't pay off your debt in time.
Getting a credit card can be a very smart move because you can apply for an apartment, car, and any time of loan that you are considering. Building up credit and having it can give you the ability to do many things, and also give you a better possibility of getting an apartment or new car that you've been dreaming of for a while.
Having a credit or even a debit card can be pretty risky.
Every time you swipe that card, you are potentially giving out all of your information to a complete stranger, and then they can use all of your information and buy whichever items they want.
There was even a recent scam where Target had a breach. If I'm correct, about 70 million people were affected by this scam. Addresses, phone numbers, and more were given out to complete strangers in another country.
Using a card can also be very dangerous for anybody because whenever you swipe a card you aren't physically seeing the money that is being taken away from you. When a person hands cash over, they are physically seeing the money leaving their wallets. When you are actually witnessing the money being taken away from you, it has way more of an effect than when you are simply swiping a card through an electronic machine.
Is getting a credit card a good idea for you?
If you are trying to rent or purchase a big item in the future, you probably need credit to do so. Some places won't need credit from you but will need other items instead. Say if you were trying to get an apartment, the landlord might want you to give them a larger deposit, or some kind of references or recommendations from past employers or landlords. This can work out as well, but not for all places.
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