Persuasive Essay |
Amy Kugel |
COM156 University Composition and Communication II (Axia) |
Kieste MayfieldAxia College of University of Phoenix |
[Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] |
Credit card companies should not market to college students on campus. There are ten dangers of credit cards that students should be aware of. A few of these are: “Debt problems can lead to depression, which affects study habits, academic performance, and retention rates. Debt can stick with students long after graduation. Debt ridden students interested in advance degrees may not be able to secure graduate loans. Potential landlords, and some employers, routinely review credit histories. Filing bankruptcy can severely damage your credit ratings for years. A bad credit rating may result in an inability to obtain a mortgage, a car loan or any other extension of credit” (William Francis Galvin).
College students need to be aware of the marketing “schemes” credit card companies use to get their business. “Sometimes all it takes is a few freebies like t-shirts, pizza, or beach chairs to get students to apply for credit cards. This persistent marketing, coupled with a lack of financial experience, leads many college kids into serious debt” (Jessica Dickler, 2008). “Colleges and universities are the one group that makes money out of the credit card industry without bearing any responsibility for educating the students about the possible pitfalls and the devastating effect bad credit can have on their financial future. In return for lucrative fees, many colleges allow the banks and credit card companies to hawk cards right on campus” (William Francis Galvin).
Credit card companies do not find college students high risk because they know that the...