CREDIT GOOD OR BAD?
Credit cards, almost everyone has them on college campuses. Credit card suppliers are inching their way into back pockets of college students. bribery is a great example of this at Marietta College, "Come on down and get a free pizza" says dominos of Marietta. But what you dont know is that you have to apply for a credit card in order to get that pizza. Credit card suppliers are trying everything in their power to get college students to apply. Fee's, interest rates, and irresponsibility is the way credit card suppliers make their money. Is this the reason the credit card suppliers are hitting up several college campuses? Credit Cards are a waste of money, and a great way to not only spend somebody elses money but a great way to put yourself in debt even more while in college. So the next time you think about signing up for a credit card realize what your doing, which is contributing to unnessecary fee's, and dont do it for a free pizza but do it for the right reasons and the right reasons only.
5 comments:
those banks made a lot of money from their credit card customer. there is no such yhing as a free lanch.
Credit cards are not a total waste of money so long as people use them responsibily. I see two of the most prominent benefits of using a credit card is to be able to purchase large-ticket items (the ones you need, not just whatever strikes your fancy) and in case of emergency.
I'll admit it, I took the bait and went to Dominos to get a free pizza last week. The woman working the credit caard booth explained that signing up would only give you an offer for a credit card. It would not mean that you would automatically get sent a card with a credit limit. She also said there was no obligation to actually open the card, you just got the pizza for giving out your address. This seems like a waste of resources and bad advertising to me. The woman did not tell me the benefits of the credit card when I was signing up. She just kept repeating how there was no obligation to get it, and I'd get the pizza anyways. I wonder if the credit card company knows that their employees (or this one at least) are doing little to nothing to actually convince us to open a credit card. Don't get me wrong, I don't like being harassed and talked into something, but I also don't see the point of a company paying an employee AND picking up the bill for X amount of pizzas and getting nothing to show for it.
I have to agree that credit cards generally end up being a bad idea for many people. Most people forget or refuse to look at the long-term affects of spending large amounts of money because they don't have to pay it off right away. Obviously, such irresponsibility can lead to some major financial stresses. But, you can't blame credit card companies for trying to sell credit cards to young people. They understand that many young people don't understand financial responsibility, and therefore the companies can gain large sums of money from the students.
College students generally feel a little strapped for money, so having that "free money" on hand sounds like a wonderful plan. What students seem to forget is that that the money is not free and they often do not understand all the rules and interest fees that come with the credit card. Thus, they spend large amounts of money and realize they can't pay it off in the time given, so they then become responsible for the accrued interest.
It's a buyers-beware type purchase and only people who are responsible and mature enough should buy credit cards. Credit cards are not for everyone, and they should only be used in an actual emergency or if the person has the money to pay for the item but wants to build credit.
Come on guys credit cards aren't that bad. They come in handy when needed. Flat tire on the interstate. CHARGE IT. Need to buy something over the internet and don't have debit card. CHARGE IT. Need to pay off a credit card? CHARGE IT. Ok, so the last one might have been a little off. However, for the most part credit cards serve their purpose and do a fine job doing it. It helps to be mature and responsible why using credit cards, but if you are that much of an impulse buyer that you max out all your credit cards and get covered in debt, then you may need a new job or to stay away from Wal-Mart.
I believe people our age should stay away from credit cards. we have a tendency to buy alot of things we really dont need and when we dont see that money actually being spent, it makes it easier to spend. I have never owned a credit card and i plan not to until i have a reliable job.
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