Tumblr #17
I feel that credit cards are a bad idea at any age in our current economy,we obviously don’t know what ‘money management’ means. I don’t have a credit card myself but my parents are trying hard to get me one,I’m afraid of credit cards because I have witnessed them struggle with their credit,avoiding bill collectors and being embarrassed when they don’t qualify for something because of their credit.
FACTS:
- “725 pf the students who took the survey in 2009 were business majors -this fact stood out to me because it just sounds ridiculous,are these students learning anything besides how to spend their money?
- “more than 90% of college students who hold credit cards are carrying monthly credit card debt” -stop giving these children credit cards!
- “five of every six students don’t know their cards’ interest rates” -too bad so sad
WIDER IMPLICATIONS:
-“You could argue that college students ought to be more educated about these things,” — I disagree..
KEY FINDINGS:
-Only 13% of college students admitted to using their cards frequently,that is totally bullshit, I’m sure they mean to only use their credit cards for emergencies as their parents have directed them to but they can’t resist the “unlimited” money that the credit card represents for them.
