This is why adults need credit cards too.

Credit cards are different from EPS. EPS only allows you to buy things with the money you have.

Unlike credit cards, you cannot pay in instalments.

People might argue that we should not buy something we cannot pay for. But if borrowing was

wrong, many banks would have to shut down.

A lot of people take out bank loans to buy property.

They pay back a certain amount each month.

It is the same as using a credit card to buy things.

If using credit cards is a sin, they should be banned ? no one, including adults, should be allowed to use them.

And don?t forget there?s a monthly payment limit for nearly every credit card. When a credit card company approves an application, it sets a spending limit according to the owner?s income.

Students do not have a very high limit so they cannot buy things they can?t afford.

But I believe students should have just one credit card. In case they get into difficulty, their parents

can help.

Having a credit card is also a good way for students to learn to manage their money.

I think a credit card with the appropriate limit is a good thing for students.

Everyone has one. Why not students?

Phoenix Lee Ching-kwan, 18

Tin Ka Ping Secondary School

No. Although credit cards are convenient,

only mature people with a lot of selfcontrol should use them.

For students, credit cards could be a dangerous thing. Using credit cards could lead to compulsive shopping, leaving students deep in debt.

You can buy almost anything in Hong Kong with a credit card. Students can hardly resist such a

temptation.

Some say that credit cards have a spending limit and that?s why students can afford to have one.

But most credit card companies provide spending limits that exceed students? ability to pay. The reason for this is simple ? the companies want to make more profits. If students are not smart enough, they could easily become a victim. So does the spending limit work?

I don?t think so.

Besides, shopping with credit cards gives teenagers the wrong concept.

When you use credit cards, you are spending money that has yet to be earned. When students fall into debt, their parents often have to help.

Credit cards encourage students to buy whatever they want because they don?t have to take responsibility for their actions.

A credit card can be a good thing only if we use it sensibly. It?s too early for students to have credit cards. They need to develop good spending habits first.