Blog: Paypal Debit Card Canada

Today a much younger customer base is eligible to purchase a credit card. The previous generation of college goers rarely carried credit cards. In contrast, nowadays most students sign up for a credit card (or two) the day they walk through the hallowed halls of higher education.

As a direct result, many food and soda vending machines in high schools and colleges accept both credit and debit cards. On the flip side, according to the 2005 study – "Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends" – conducted by student loan company Nellie Mae, students owe an average balance of $2,169 in credit card debt.

Students Prepaid Credit Cards vs Regular Credit Cards

Some parents bypass giving their children credit cards by making them authorized users on their parents’ card. Students are advised to restrict card usage to emergencies. Unfortunately, for many kids the term emergency is broad enough to accommodate discounts at a mall or a weekend getaway at a ski resort.

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