Should your college kid get a credit card?
Yahoo! Finance - 08/11/2015
Another danger of debit cards is theft, says Coleen Pantalone, a finance professor at the Northeastern University D’Amore McKim School of Business in Boston.
“As long as there is money in the account or overdraft privileges, the thief can keep taking money out,” Pantalone says.
Pantalone’s advice fits just about every scenario, whether your college kid has a credit card, debit card or is relying on a wad of cash in a shoe box: “Set the boundaries and monitor. Learning how to manage money responsibly is an important part of growing up.”