The Negative Side of Credit Cards Now days, the Credit cards companies are targeting college students because they are easily targets. They attract college students because they know that students have money issues. So they convince them with good offers that they can’t resist. Most of college students sign up for credit cards because they have money issue because the money that they get from financial aid isn’t enough. So, they think that getting a credit card would solve their economic problems. But they are wrong. Having a credit card has negative consequences. Those consequences are going on debts, they mess up their credit and they can ruin their education.
The main reasons why college students get credit cards are to pay their intuition. Tuition is the cost students must pay to enroll as a student and take classes at a college or university. Like in Cerritos College or in other universities, a lot of students that are not born in the United States, they have higher probability that they would get a credit card because they don’t have financial aid to help them to pay for their classes and books. Or other students don’t get financial aid at all because their parents make a lot of money so they don’t qualify for FASFA or Cal-grant. This is why credit card companies target most of college students because they know that those students are having money issues. But especially they target freshmen students. They know that freshmen students don’t know how to manage their money. Freshmen students think that they’re old enough because they’re going to college so they don’t need to worry about money so they waste their money on buying things that they don’t really need. So they get like 3 or 4 credit cards to pay their intuition but they don’t have money to pay off so they end up with debts.
Credit cards can ruin your education. For example my friend Alejandra, She was a junior at UCLA. I remember that she had 3 credit cards and she didn’t have a job. She was using those credit cards to buy things that she didn’t really need like she bought an IPhone, a plasma TV and other expensive things. She was all happy and telling me and her other friends that she have all those things that she never thought she would have. But at the end of the month she couldn’t pay back her credit cards, so she found a job but that cause her to have less time to concentrate on school and assignments, which it make her grades drop and negatively affect her sleep and social life. She decided to stop going to college until she could pay her debts. She stopped going to college for 2 years. During those 2 years she lived with her parents and her parents help her pay all her liabilities because Alejandra didn’t have a chance to pay her credit cards because the money that she owes was a lot. She went back to UCLA 2 years later. but she waste those 2 years because of the debts that she owes. This means that if students buy things with credit cards without thinking of the consequences, they might be happy and have fun for that moment, but when reality sets in and they have to pay off their credit cards. They will definitely be regretting their choices.
By getting a credit card college students are messing up their credit. Most of students are messing up their credit because they are not paying back on time. If they don’t pay on time the bank charge them interest. The longer they wait to pay. The longer they are going to owe them money. Most of students don’t pay it off as soon as they can, so the debt piles grow very quickly. There are some students that think they can get away easily when they graduate from college. They think that after college everything was on the past. But they are wrong; they can’t get away easily even though they already paid their debts. Credit cards already messed up their credit. The most important thing is here that when you make something that can hurt your credit, you can’t solve it. Some college students are affecting their