Is obtaining a credit card way too easy nowadays for young people? Are card companies “vultures”?
Friday, February 5th, 2010 at
3:23 pm
mymammoth asked:
For example, in college the credit card companies are always there in the beginning of every semester trying to get students to apply. They also offer “free goodies” if you apply.
For example, in college the credit card companies are always there in the beginning of every semester trying to get students to apply. They also offer “free goodies” if you apply.
I don’t think a lot of 18 year olds in college fully know the implications of having a card.
Do you also think it would help if they raised the minimum age (of getting a credit card) to 21 instead of 18?
Tagged with: Credit Card Companies • Free Goodies • Lot
Filed under: Credit
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Yes, yes, and YES!!
Too easy to obtain the credit card nowadays. And card companies are just not “vultures”; they strongly believe in canibalism. They are maneaters.
I don’t think the answer is to raise the minimumage requirement but rather EDUCATING highschoolers about how credit works and that it can follow you for a long time. Think about it: good parents spend so much time trying to educate their kids on values, beliefs, right, wrong, etc. But most parents don’t even THINK to educate their kids on how credit works and then those kids are let loose in the world….and we wonder why they end up in so much debt.
I DO think laws should be passed, however, for cc companies to NOT solicit to college students in the manner they do. If they want to do direct mail, that’s fine – let them pay the cost to do that kind of advertising. But I remember, in our college bookstore, little slips of paper/flyers for credit card companies were actually put in the bags!! When you get to college, there are TONS of advertisements included with official school stuff!! It’s almost as if the college gets a kick back – which I know is untrue but it feels so official when they put those advertisements in with official school stuff. It’s horrible. And colleges should also do workshops for freshmen about credit as well.