Credit Card Companies Marketing on Campus
University of Phoenix
Credit card companies preying on students in our country has been an issue for some time now. These companies are manipulating young adults of our society into having their product and teaching them bad habits. Credit card companies use aggressive and shady tactics to lure young adults in debt and keep them there in order to continue making money off them. This is causing major issues in our society and economy and needs to be taken care of soon before our economy gets worse. The current way that credit card companies market on campus to students in detrimental to not only the students but society as a whole. These companies should have strict regulations on what they can and can’t do to college students and what must be told and explained in plain English with or without the question being asked in order to make them informed consumers. These companies should be closely monitored for this and harsh penalties for not abiding by these regulations set fourth.
Credit card companies shouldn’t be allowed to manipulate young and financially uneducated young adults. A study was done on TrueCredit.com showing that one out of four students will leave college with $5,000 in debt, and one in ten leaves with more than $10,000 in debt. Credit card companies need to offer these students not their product but even short classes or seminars about their product and how to use it responsibly. Young adults do not have the knowledge or responsibility to handle credit cards at their young age with out instruction. These young adults are being taken advantage of and ruining their futures financially before they even have a chance to begin. Credit card companies are purposefully using people that can’t repay to benefit with more money for themselves in the long run. Society is being drug down credit wise due to the fact too much money is being lent out that is not being paid for. The credit card companies...