Even though credit cards can be a source of paying for college-related expenses; credit card companies should not be on college campuses because most students will misuse the credit card, go into credit card debt and not realize the full financial hole they are in and struggle for years to pay off the debt.
The first reason why credit card companies should not be on colleges marketing to college students is that it is very easy for a college student to misuse the new credit card. A college student most likely has limited financial means and a credit card could help today but hurt substantially more down the road. With a limited income, it would be very easy for the student to become financially dependent on the card. A 2009 Survey by Sallie Mae concluded the following. “The economic downturn has most Americans tightening their spending habits, but not all. College students are even more dependent upon credit cards, according to a survey conducted by Sallie Mae, the nation’s leading provider of student loans. The organization released its survey results last week in its National Study of Usage Rates and Trends. The study focused on undergraduate student’s ages 18 to 24 who were enrolled in public and private four-year colleges and universities during the spring of 2008.” [ (Phan, 2009) ] Another misuse of credit card spending occurs when the student is trying to fit into a social crowd among its peers. Many students feel a need to be part of socially acceptable “cool” crowd, and they will spend and buy things that they do not really need just to make a “fashion” statement. Unfortunately, this could in large part be a chain reaction to their upbringing. A vast majority of college students these days have almost always had everything they every wanted including; newest fads whether it is clothes, shoes, a video games system, jewelry and even including vehicles. In a