Research and Advice for College Students with Credit Cards
Research and Advice for College Students with Credit Cards
Credit card debt and college students seem like now a day go hand in hand. There are a lot of ways that they get kids to get credit cards. They have credit issuers go to colleges, they send you pre approved credit applications in the mail, and through advertising. There are many of ways that credit card companies try and lure kids or college students into getting credit cards. When most kids get credit cards they can not handle them. They go out and buy stuff they don’t need or cannot afford. That is why a lot of people want to set a higher age limit on young adults or college students getting credit cards. Credit card debt and college students are a problem and we need to find a way to educate or to not give them credit cards.
A Rite of Passage
In the modern world if you don’t have a credit card you cannot get a lot of things. Try renting a car without having a credit card. Or try getting a cell phone or a new car without credit. “In fact, you’ll have a hard time beginning adulthood without borrowing: most college students cite establishing a good credit history as their reason for getting cards (Poniewozik 44).” It does not work because everybody looks at your credit report. “What makes a Man—or a Woman—in America today: debt (Poniewozik 44).” Now days since the making of the Child online Protection Act of 1998 in order to view adult material you have to show proof that you are an adult. The only acceptable form of proof is a credit- or debit-card number. “Two-Thirds of college students alone carry some form of plastic (Poniewozik 44).” That is a lot of college students and a lot of debt.
Credit Problems in College Follow Students after Graduation
In fact most college students start their working days out in the red. “The average college student has more than $2200 of revolving credit card debt, and twenty percent of student credit card holders carry more than $10,000 of revolving debt (Fairfield 4).” This is a major cause of depression among students, which affects study habits and academic performance. A lot of college students use...