Credit Cards

Why Credit Companies Shouldn’t Be Allowed On College Campus

Name

UNIVERSITY COMPOSITION AND COMMUNICATION II COM/156

Date

Credit cards companies shouldn’t be allowed to market on college campus because they don’t explain how credit card debt will hurt the student future, the student don’t have the proper knowledge of having a credit card and students aren’t responsible. Going to college is when students are starting to learn responsibility so they shouldn’t be exposed to having credit cards to fast especially without the proper knowledge.

Research showed me that credit card companies trick students into applying for a card and they don’t even know. “At the start of her freshman year at the University of Arkansas, Aletha Boggs, 19, got a coupon for a free Subway sandwich. When she went to collect her complimentary lunch, she was instructed to fill out a card with her name and address, completely unaware that it was a credit card application she was filling out. A week later Boggs was surprised to find a credit card in her mailbox with a $2,000 limit” (CNN. (2008). Money CNN.com.) Sometimes all it takes are a few freebies like T-shirts, pizza or beach chairs, to get students to apply for credit cards with little understanding of what they are signing up for. That’s how they got me.

Credit card companies don’t explain how credit debt can hurt the student future. Students don’t think that credit cards will affect their future. When they get credit cards they more then, likely think they just have extra money to spend. They need to know going into debt will affect their credit. “While students learn many of the basic and advanced skills that are necessary to succeed in the real world they generally fail when it comes to learning about Personal Finance. This is why the average student graduates with over $3,000 of credit card debt as well as a boat load of student loans. Why would a student take on even more personal debt when they know they...