Are Credit Companies Good in College?

                     Essay Prompt #8

Prompt: Representatives of credit card companies can often be found on college campuses offering special incentives to get students to fill out credit card applications. Many people feel that this takes advantage of students, who are often low on cash during their college years. Others feel that it is an excellent way to help students begin to build credit and learn financial responsibility. How do you feel about this issue? Take a position and use specific reasons and examples to support your argument.

               Don’t you think that when you are in college you are in too much debt already? Well credit card companies going to college campuses I think is a bad idea. First of all it can put the student into more debt than he or she is already in dealing with educational purposes. Also sometimes young adults can be impulsive buyers, and with a credit card they might max it out and then not pay it, which in the end affects their credit score. Last it seems as if the credit card companies are taking advantage of the students because they know they need money during their college years, and a way to solve that problem would be a credit card. It may solve the problem temporarily but not in the long run.

               When you go to college it is going to be some of the most difficult years of your life because of so many things you have going on. One of those might be getting money; most of the people in college do not have money to spend like crazy, because they save it for their books or to pay off a loan for school. Although when you get a credit card all that money is going somewhere else instead of yourself or your education. Your education is the best investment you can make than borrowing money from a credit card company to buy a television or a game. That is why if you do have a credit card, it is best to get a low max out rate while only having one credit card activated, but even though I think it is not a good idea for college students.

               When you have money to spend you either want to spend it on something you really want or save it. Although some young adults are impulse buyers, which should not have credit cards. They might go out buy everything they see and max out their credit cards which might be a high amount. This is bad because he or she might not be able to pay so in the end, instead of getting a credit score their ruining it by not paying back. This can affect them their whole lives, just because of a bad mistake of getting a credit card while you were in college.

               It also seems like the credit card companies take advantage of the college students when they sign them up for their credit cards. They know that college students are in need of money and just tell them the pros to having one. The do not tell them that they might have high interest rates or any of the cons. Credit card companies should go to another age group of people that are able to handle the ownership of a credit card company, and are more eligible of being responsible. This is why I think credit card companies should stay off college campuses, and it s a very bad idea that their letting this happen.