- Some 18-year-old college students do not have a job. They have to go to school full time. But if they do have a job, it is usually one that pays minimum wage and doesn’t pay all the bills.
- This encourages compulsive shopping.
- The Credit Card company’s ads get the student thinking from a very young age that a credit is free money. Students do not think about the monthly bills that they have to pay for that purchase.
- It’s not only College Students that are affected, but Credit Card Companies are also targeting High School Students.
- More websites aimed at College Students are asking them to pay by Credit Card.
- The accumiliations of Credit Card Debt is starting younger and younger.
- Students don’t understand that if they miss a payment for more than three months, then their credit rating will suffer and interest rates will go up.
- Not only High School and College students, but the average person doesn’t know that the Credit Card companies are making lots of money from high interest and people who are in Credit Card debt.
- The results of what happens if a College or High School student starts abusing their Credit Card privileges are as follows:
– Students committing suicide because of debt. And when they do, the Credit Card companies start phoning and targeting their parents to pay the bill.
– Students dropping out to get a full time job.
If you are a student who is considering to get a credit card; Don’t. You don’t want to be in debt for the rest of your life. If you are a student with a credit card, please get rid of it immediately. You still might have to pay for the last purchases that you made.
As for you parents, I know that it is hard to talk to a college student about money matters. Teaching your kids about money and using a credit card should start when they are very young, not when they are in College or University.
You can email or mail your local MP or Senator to stop Credit Card companies from giving them to teenagers. But guess who is influencing the politicians not to put that into law? Yes, the Credit Card companies themselves who are lobbying against it. There hasn’t been a politician in 40 years that has not been influenced by big business.
The scariest thing is that the soon Credit Card companies are going to target children under 12.
Here are some videos that talk about this: