Of A Incomeless Card

Today, Citibank launches the first local credit card for people who NO income.. yes, students, university students in fact, are the target market in this campaign to establish healthy relationships with the bank at an "early" age..

the credit limit for the card reads $500... that's a good amount of money for someone that does not have it, but would it lead to spendthrift ways? Spending money that these young undergraduates have yet to earn

for the undergrads who part-time to earn that extra buck, they are using "future money" when they use this card, for those who receive pocket money from parents, they are drawing resources from projected income.. this is where credit risk lies..

therefore, should such culture be cultivated while these working-adults-to-be are undergoing their education?

i say no, for spending should always been limited to actual income and not projected income.. a healthy and prudent credit card holder has the amount of money to pay for the item of purchase, the card is merely a tool that facilitates payment for the person so that one does not have to do the background movement of funds before buying that item..

this also means that those armed with a credit card are more vulerable to impulse buying..
it is always up to the individual to exercise caution and be prudent with their spending, otherwise, no measures, card restrictions or education will help

Living on credit, when do we pay all of it back?