The Trouble with College Students and Credit Cards

As if college students didn't have enough to worry about, the one hassle they don't need and can very well avoid is credit card debt. Do students really need credit cards? Not really. Students that do not have a full scholarship have had to take out a loan of some sort to pay for tuition, included in that should be books, food, and miscellaneous items. These items should not be paid for with a credit card. If they do not have the money then using a credit card just builds debt from one day to the next till there is no way the student can pay that off. When you first arrive on some campuses you will see tables or booths set up so a student can apply for a credit card. Students can qualify for a card even if they do not have any income or job.

These lenders set up their booths just waiting for a candidate that fits this description because they know it will take a long time for the student to pay this off. Some schools have made deals with the credit card company in which the company will pay handsomely to be able to set up shop and push their credit cards. They lure the student with free t-shirts, food, Frisbees and other items. The student wants the free stuff so they sign up not fully realizing the credit card terms. About 56 percent of seniors said that they purchased their first credit card at the age of 18. When they reach their senior year they have built up an enormous debt and have at least three more credit cards.

There is hope. PIRG, with a grand from the Ford company is having their own credit card campaign. Their slogan "Feesa. Free gifts now, huge fees later. They also hand out free items like lollipops that say "Don't be a sucker". PIRG has a website www.truthaboutcredit.com were they urge schools to ban any gifts when marketing credit cards, including food, sports tickets, and coupons. A ban of any employee, student group or campus department from accepting money, goods or other services from credit card banks. A ban on selling any student list to credit card companies. Credit cards don't have to be banned; they just have to be used responsively. A student should read and understand the terms. They should have an income to pay their bill on time. If they really don't need a credit card then they should not get one. Some students are told they need one to build up credit. There are other ways to do that. So, you see there is hope, just go to http://www.truthaboutcredit.com and find out more about credit cards.

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