Stick to Your Budget

One of the colleges, I believe it is Michigan State University, is cracking down on credit card offers made to students.  Many young men and women fall into debt at a very early age because the offers made to them are attractive and fill a need.  Often, they use something that should be "emergency only" for emergencies that are only relative. In otherwords it does not help with budgeting.

On the other hand, getting a credit card early has its benefits. You can establish credit in order to prepare you for purchasing a house or a car. It can make you more credit worthy. Also, it gives you flexibility.

While a prepaid card may not establish a good credit history for you, it can be used anywhere that a credit card is accepted. Of course, many debit cards have a Mastercard logo or a prepaid debit cards, it helps you learn to budget without actually depleting your reserves. By having a card linked to a bank account, you may be tempted to transfer money from savings to make purchases. This way, discretionary spending, and money you spend out and about, such as groceries and gasoline do not impinge upon regular monthly bills.

The added bonus is that it not only is merely a prepaid credit card but it is also a Prepaid Mastercard that gives you the flexibility of using it just about anywhere.