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Ke’ Shawn Hence

Social Science
4/8/2019

What’s Right For Me Assignment:

Dear Parents,

After the conversation we had, I decided to really take some time out to determine
what’s next after I graduate from high school. I’m going to be honest, before I really starting
doing research about finance I was completely lost on what exactly I wanted to do. I didn’t think
about credit cards or the many different types there was to choose from. All I knew was that I
wanted and expected money to be in my pocket. After carefully reviewing many credit cards, I
don’t think that having a credit card is best for me. I can see myself staying attached to my debit
card and for many reasons. Yes, credit cards has some benefits such as ability to buy more
expensive items, greater protection against fraud, rewards, discount programs and many more.
But there are also disadvantages. Some disadvantages of using credit cards is for on, debt. If
you don’t take care of and manage all your purchases, it could lead to you being in debt. Some
other disadvantages are annual fees, late charges, interest rates and much, much more. For
me, I believe that using a debit card is easier because technically, I won’t have to BORROW
money from anyone or any company. Using a debit card will allow me to use money that I
already have in my bank account, which I believe would be much easier for me. And you may
be wondering: Why not choose a student credit card? Well let me tell you why. As you may
know, I plan on going to college next year, taking a gap year as you may call it. As of right now
coming up, I will not be a full-time student. I plan on working in the meantime and I think it’ll be
best if I have all my money earned transferred to my debit card, as I’m already familiar with, and
doing just fine with actually. Lastly, I don’t feel like being and authorized user on a family credit
card is necessary because I’m getting older now and I understand my responsibilities. I think
that handling my situations alone is best for me. This is why I am staying with a debit card and
not getting any type of credit, or at least no time soon.

Sincerely, Ke’Shawn

P.S. The different responsibilities between a student credit card and being an authorized user
on your family’s credit card is for one, on a student credit card, YOU are mainly responsible for
paying it’s payments. As an authorized user, your family is held responsible, such as mom and
dad.

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