Whether you like it or not, college students can be gullible and hardheaded. Credit card companies target people who are more likely to fill out applications. Let’s face it, they are some smart cookies. ? Credit card companies visit campuses with table displays, offering all kinds of gimmicks to get students to fill out applications. They offer credit cards with teaser rates. After the six months is over, however, the Annual Percentage Rate will skyrocket twenty percent or more following the introductory rate.
Some college students get sucked into the credit card companies’ traps. They may get overexcited when seeing a shiny new card and do not hesitate to swipe it. But there are consequences in not paying the bill on time, which is definitely a problem with many college students.
Some want to blame the credit card companies for even visiting the college campuses. But are the students themselves to blame for all this or do the credit card companies share in the responsibility as well?
Visa, MasterCard, and American Express cards are meant to help individuals to build a respectable credit history. This means that a student’s falling behind on payments gives the credit company permission to charge late fees. Even a few cents unpaid could cause a person to get late fees. This stays on your record for seven years.
Bad credit could hurt a student’s chance of buying a house, car, or renting an apartment in the future. To pay off heavy debts, some college students are forced to get jobs and cut back on course loads.
It is your future being jeopardized, not the credit card companies. College students are not victims. No one forces them to sign a credit card application. Students may be a little gullible sometimes, but that is part of growing up.
When a student starts school, they are officially out there in the real world. As an adult, you learn to take responsibility for your own actions. Credit cards require responsibility. ? People need to look into ways to use credit well, watch for rates, and play it straight. We also need to learn that a getting credit card is our choice and the credit card companies are not to blame.
Students need to research before looking into dealing with credit. If your parents don’t have good credit, learn from their mistakes. Visa, MasterCard, and American Express have websites dedicated to college students and packed with financial tips and info. ? Rather than get mad at the credit card companies for visiting your college, learn to be rational, have a healthy skepticism, and be smart. If you are a person that spends money the minute it is placed in your hands, just walk away! Dealing with credit cards is not a game.