Need A Gift For Your Graduate? Get Him A Credit Card
It truly is a momentous occasion when your child graduates from high school.
This event symbolizes the end of his childhood and the beginning of his life as a responsible adult.
Admittedly, there's still a long way to go before he finally becomes self-sufficient, but this is definitely the start of his journey to adulthood.
In most cases, parents gift their graduate with a car or a trust fund.
Others send their graduates out into the world by allowing them to go on grand holidays in the Bahamas or go backpacking in Europe.
Other more financially capable parents even go to the extremes as purchasing a studio unit for their child (so he doesn't need to stay in a dorm when he goes off to college).
If you're not as generous as those parents and yet want to give your child a special gift to mark his entry to adulthood, why not give him his own credit card? Don't just give him an extension of your credit card; get him his very own piece of plastic money.
Not only will it give him a sense of financial independence, it will, at the same time, teach him how to manage his funds wisely.
Several credit card companies offer credit cards that are specifically designed for college students.
These credit cards come from reputable financial institutions and each one of these credit cards has different sets of product offerings and services.
If your child is still into theme parks and studio tours, there are cards that will give him points for every purchase made at theme parks (Universal Studios) and resorts and also give free invites to movie premieres.
If your child is more practical and dreams of eventually purchasing his own car, there are credit cards that will allow him to earn rebates towards any vehicle he wants to purchase (new or used), and he also gets cash bonuses for every mile he has driven.
If your child is the no-nonsense type who only spends on the bare necessities, there is a student credit card that will give him 5% cash back on his basic purchases (food, medicine and gasoline).
Truly, there is a special student credit card that will suit the lifestyle, personality and spending pattern of your child.
Apart from these benefits your child will enjoy, it would be good to know that these student credit cards do not charge any annual fee.
Isn't that good news for you and your child? If you opt to give your child a credit card of his own, you have to impress on him the importance of maintaining good credit standing.
Remind him that a credit card should only be used for necessary and emergency purchases (getting the latest version of Apple's iPod, does not qualify as an emergency purchase), thus should be used with caution and proper discretion.
Even if these credit cards are labelled as "for students", the institutions that offer these cards report to credit rating bureaus.
Inform your child that their future credit rating will be affected by the way they use (or misuse) their student credit cards.
So it is imperative that the card should be used wisely.
This event symbolizes the end of his childhood and the beginning of his life as a responsible adult.
Admittedly, there's still a long way to go before he finally becomes self-sufficient, but this is definitely the start of his journey to adulthood.
In most cases, parents gift their graduate with a car or a trust fund.
Others send their graduates out into the world by allowing them to go on grand holidays in the Bahamas or go backpacking in Europe.
Other more financially capable parents even go to the extremes as purchasing a studio unit for their child (so he doesn't need to stay in a dorm when he goes off to college).
If you're not as generous as those parents and yet want to give your child a special gift to mark his entry to adulthood, why not give him his own credit card? Don't just give him an extension of your credit card; get him his very own piece of plastic money.
Not only will it give him a sense of financial independence, it will, at the same time, teach him how to manage his funds wisely.
Several credit card companies offer credit cards that are specifically designed for college students.
These credit cards come from reputable financial institutions and each one of these credit cards has different sets of product offerings and services.
If your child is still into theme parks and studio tours, there are cards that will give him points for every purchase made at theme parks (Universal Studios) and resorts and also give free invites to movie premieres.
If your child is more practical and dreams of eventually purchasing his own car, there are credit cards that will allow him to earn rebates towards any vehicle he wants to purchase (new or used), and he also gets cash bonuses for every mile he has driven.
If your child is the no-nonsense type who only spends on the bare necessities, there is a student credit card that will give him 5% cash back on his basic purchases (food, medicine and gasoline).
Truly, there is a special student credit card that will suit the lifestyle, personality and spending pattern of your child.
Apart from these benefits your child will enjoy, it would be good to know that these student credit cards do not charge any annual fee.
Isn't that good news for you and your child? If you opt to give your child a credit card of his own, you have to impress on him the importance of maintaining good credit standing.
Remind him that a credit card should only be used for necessary and emergency purchases (getting the latest version of Apple's iPod, does not qualify as an emergency purchase), thus should be used with caution and proper discretion.
Even if these credit cards are labelled as "for students", the institutions that offer these cards report to credit rating bureaus.
Inform your child that their future credit rating will be affected by the way they use (or misuse) their student credit cards.
So it is imperative that the card should be used wisely.
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