It’s understandable that students want access to cards for convenience when they’re attending school. But which options should they choose? Debit cards tied to a bank account or student credit cards? Each has its own benefits, and each has drawbacks.

Let’s take a look at the benefits of both options, so you or the student in your life can decide which are most important.

The Case for Student Debit Cards

Here are some of the reasons students might be better off using debit cards:

1. Debit cards like the ANZ Access Advantage Visa debit card give students easy access to their own bank accounts (where they can access their own money or where parents can put money to help them out when needed).
2. Debit cards carry no risk of going into debt like credit cards do — a good thing given that many students only have part-time income.
3. Busy students don’t have to worry about remembering payment due dates on top of papers, exams, and classes (not to mention having a bit of fun and taking on jobs).

The Case for Student Credit Cards

On the other hand, some students might prefer credit cards like the ANZ First Visa. Here are some reasons why:

1. Credit cards can help students be a bit more self-reliant, without having to turn to parents for a quick influx of cash. Of course that only happens if they use those credit cards responsibly — such as financing something until pay day and then paying off the balance rather than financing things long-term.
2. Credit cards give students extra spending power on rare occasions when they need it — such as school book expenses that are higher than expected.
3. Credit cards help students start building a credit history from a younger age than if they waited until they completed their studies.

So which option should students choose? That depends on their needs and their habits. Someone financially responsible who is looking for a bit of added independence might be better off with a student credit card. But someone more averse to risk might be perfectly content with a debit card giving them convenient access to their own money.