1. Credit card companies should not be on campus marketing to college students.
What young college student doesn’t need a little extra money for the weekends? I am going to explain why most college students are not ready for a credit card w and why credit card companies shouldn’t market on college campuses. A lot of students need some extra money while they’re in college but some are not ready for a credit card. Students are not being told of the dangers of credit cards consequently, young adults are being caught unaware and thrown into the dangers of credit traps. Credit cards are damaging to uninitiated students and shouldn’t be promoted anywhere on college campus. High card payments are one of the first things an unsuspecting student has to contend with. The uninitiated spend with reckless abandon, driving up the monthly payment. When they can’t make the payments they damage credit scores and result in bad credit and also raise card payments to level difficult to pay.
Not understanding or being aware of debt, a student might take out a loan to pay the credit cards off. They don’t realize that they are only getting future in debt. Lack of knowledge is a student’s worse enemy when dealing with credit. They need to be aware of the annual percentage rate, and charges that is put on credit cards. They end up finding themselves in credit card debt because they do not know to use credit cards properly, high interest rates and not making payments on time. Many student believe that they can spend what they want to and pay it back when the get a job. The reality is that they don’t end up using their credit cards for school or emergency purposes. Credit card companies tend to advertise and promote falsely in order to get college students to sign up for their credit card. Credit cards offer the easy way for them to make these things affordable at the time until their monthly statement comes in an the bill is. Then they realize they can’t make the monthly...
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