People will get anything, especially when it's free or thought to be free. I'm sure you've walked around your college campus and have seen the tables set up giving out free t-shirts with your school logo on it, or maybe free snacks and goodies, coupons, pizza- stuff any college student would be drawn to, and why not? It's free of course, who can beat free? Of course there's always a catch-sign up for a credit card.
Going into college many don't realize the dangers of credit cards, it's often looked at as perhaps free money, a loan or a means to an end. When you need those expensive books for a class you don't know why you have to take in the first place, why not charge it? Of course you'll actually end up paying almost twice the cost it would be in cash, but you'd get it right now.
There's good debt and bad debt. It takes money to get a college education and student loans leave us in debt, but it's a means to a better future and it's more of an investment than a debt. So why is it that with all the bills and costs it associated with getting that degree company's want to add credit cards to our accumulating debt? It's like just as we're setting ourselves up for success, we get set up for failure as well.
I've never known of any classes being offered for credit counseling and the TRUTH about credit cards, instead there's the unneccessary Intro to grass cutting or basket weaving 101. Every post secondary educational institution should not only offer but require all students to attend a class on credit cards, saving, investing and financial stability.
A degree secures a comfortable future for students and their families, but what difference would it be in making good money if you're spending it all on paying off credit cards with high interest rates? At least give us the opportunity to be educated and know what we're really getting into before we charge our lives away.
-Poeticlaw
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I agree with you and that's why I'm not going to sign up to receive a credit card till after I get a job, then start earning money.
I agree there's good credit and bad credit...
but at one point, we all need to have credit cards or a car loan (preferably both for the credit card companies) and maintain our debt... never pay off too much or your credit score will drop, but don't just pay the minimum every month or your screwed.
I was very lucky: for a scholarship I got, I had to attend a week-long retreat of sorts where we took classes, had seminars, and all that fun stuff. One of the classes was a day-long information session on credit cards. It was really cool... we learned the TRUTH: you need to be in debt if you ever want to buy a house or a nice car or anything like that, but you can't have too much debt or the C.C. companies will hate you, and you can't have too little debt or the C.C. companies with think they aren't making enough money off of you and will hate you.
It sucks that debt is necessary, but credit card companies have a HUGE place in our society... your credit score can determine way to many important things in your life.