I’m in my mid 20’s and things are great with my parents. Freedom is my second name I’m allowed to almost whatever I want. I am doing a great job fulfilling their idea of a good daughter. I don’t take advantage of their liberty and everything is just lovely. But, you’ll be shocked at how things crumple at the mention of that small, innocent plastic card. This time, I aggravated matters by taking one step forward. I applied for a Credit Card. It’s a credit card for youths.

Yes, applying for this card would have to be one of my most recent and unintelligent moves, considering my age, maturity and strict upbringing. It has not even been two full weeks and I have accumulated a bill of about $490.00. Ten dollars apart from the credit limit . Did I forget to mention I was a compulsive shopper A.K.A whose habit worsens when she is supposedly ‘stresed’? I need to divert my mind, so I buy things to make myself feel better and oh boy, I feel really good when I flash that VISA nowadays.

But let’s not drift. Since I can’t make myself realise that I should have learnt my lesson by now and I should have burnt that card- I’ll just offer some advice to my readers (student/youth credit card owners) and also some tips.

What ever they say about credit cards is true. Let me do a quick refresher.

• Their interest rates will eventually kill you. (Literally or Metaphorically)
• Credit cards give you this unseen power to spend. And this unseen power is always misused by powerless individuals.
• You’ll end up in debts and will spend most of your youth clearing them.
• Credit card frauds are very common too. They may be stolen and sometimes you may have your cards right there with you in your pockets, but they are actually being spent or used somewhere by somebody.
• You form immoral spending habits at a young age, which is only going to make your future more difficult. Immoral, because you will be buying things on credit- sort of like borrowing.

Sure, the ‘plastic’ has its benefits. It is convenient as some people don’t like carrying too much cash around. There may be times or a situation that may lead to larger purchases and in these times a credit card always comes in handy. For example, you might need to stay in a hotel for a night or pay the bill at a private hospital. Many people apply for credit cards in case of such emergencies.

Says, Ms Nithya Ganiswaran, a programmer, “I got my very first credit card after I graduated from NUS. I was in the Alumni, so we could apply for a credit card. It’s been two and half years but I have not used it all. My credit card is for emergencies and I have been very determined not to take advantage of the fact that I have a ready source of credit in my purse.”

There are many responsible people like Ms Nithya Ganiswaran. They value money and do not practice shopping unnecessarily. They never abuse their freedom to ready cash. They understand the definition of an emergency. They are frugal, mature and on top of everything, RESPONSIBLE. Responsibility is the key word- but hardly understood. It’s amazing how the usage of a credit card can define a character or attitude.

Then, there are some Singaporeans who live up to ‘Kiasuism’ and apply for several credit cards just to savour the perks. These perks can range from travel discounts, insurance packages to discounts at several stores. But these are efforts of the finance companies or banks to make you spend or purchase more in lure of these perks.

Using your Credit card is spending money you don’t have and possessing things you can’t afford. If you are spend like water, and have no control over your decisions, then you’’ probably be droning in debts. It may sound too harsh, but it’s all true. To make things worse, for families and individuals, students are now invited to be the latest players of this manipulative business.

Youths, especially students, Do Not need a credit card. Please understand the difference between a ‘need’ and a ‘want’. What are your expenditures? And what kind of emergencies could you possibly face that a credit card might save? Almost none I assumed. Sam Choong, a JC student begged to differ. “We do have expenditures and need to pay for materials and books. What about students in poly or university doing courses like Advertising or Marketing? They have to pay for their own materials.”

Well, to that my reply is, ask your parents. If you need money, explain to them why you need it and tell them that you’ll slowly pay them back. If you can, provide a receipt which will not indicate your expenditures but also your honesty. I wouldn’t advice you to borrow from friends. Money is too much of a sensitive issue- try keeping it within the family.

Cigarettes, alcohol, drugs are killing youths enough and we don’t need another vice on the line. A credit card for a student is unnecessary. And if you really like the idea of a credit card, the closest you will get to owning one is a debit card. It is a much safer choice and you will spend much wisely. And you can sign for it, the same way you sign for a credit card.

Don’t make the mistake of applying for a credit card and owning it unless you are disciplined enough to manage your money and keep control of your spending habits. If you land up in a debt and your parents refuse to help you pay, you’ll have to get a part-time job to clear your debts. Your studies will be affected and you will lose your balance in life. Live a free and untroubled youth.

To spendthrifts, youths and students: A credit card is not synonymous to accessibility. It’s synonymous to predicament, worry, hassle, agony, tension and idiocy.