The destruction of our youth’s future is starting in the one place our children should be protected, and we are paying for it. Credit Card Companies are recruiting card holders on college campuses. Many college students are vulnerable to the temptation of “free money”, and without understanding the consequences of their actions, are signing into a business that is designed to ruin their credit and potentially their future. Even though college students will need to build some sort of credit, credit card companies should not be allowed to recruit on college campuses because students are easily influenced, extremely inexperienced in handling such a large responsibility, and unaware of the affect bad credit choices will have on their future.
When you are an adult, there are responsibilities that come with that title. Where once all of your needs and wants were handled by your parents, they are now your responsibility and carry consequences that will stay with you forever. College students lean towards trusting adults in important situations because they are still in a sheltered world with a sense of freedom. Credit card companies are taking advantage of them because of this. Companies know that when it comes to making the decision to open an account, most students are not reading the contracts, do not fully understand how the interest rates affect them, and will accept the good things they are being told.
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Credit is your word and your word will stay with you forever. It is very easy for a college student with very little income and a credit card to make some bad choices. Some spend without thinking about paying the money back. Some have every intention of staying on the right track, but when the bill comes and they still need to buy food they opt for the necessity and the interest rates begin to rise. These are decisions lifelong and affect them getting houses, cars and some jobs in the future. Once they get into a hole of bad credit, they are left with a sign over their head that says “unreliable risk”. For the fun they will have in those first few years, they will double in payments for the next twenty.
