A first hand view on student credit cards

A first hand view on student credit cards

Our actions were the stone that ended up causing this to be the year with less student credit card registered in all the university’s history since they agreed to allow them into campus grounds and promote their products. I was happy.

I realize that we might have made a storm out of a single drop of water, but this is too much a regular problem to keep on looking the other way. If John had received his student credit card he would have noticed too late the higher amount that entailed his student credit card. Of course, nothing forces him to use the entire credit card line, but it is normal to know and understand that if any given person has the amount available it takes extraordinary resilience to refrain from using the entire sum.

What this will cause is that people like John, who have little to no experience with credit cards and that is submerging himself into a very demanding and costly education has a higher chance to use the total amount of the credit card line. This overuse does come with the subsequent risk to his own income and the distinct possibility that in the end it will impede him from being able to make a good life for himself as well as his loved ones.

Indeed, the highest percentage of responsibility is of the applicants, but also there is some responsibility on the promoters. There is also some responsibility placed upon on the banking or credit institutions and, in our case, a responsibility that lies on the schools, colleges, and universities all over. Indeed, they should take measures to prevent and to devote at least a part of the school period to informing students on the risks and dangers of acquiring a credit card.

Maybe that would be the solution in preventing so many drift away into bankruptcy; having all educational facilities with students starting age 16 and up having to have a real-time economic or finance workshop were they will be taught on how to handle credit cards and payrolls to their best interest. On higher education levels, it would only be after a student has successfully gone through the workshop that he or she will be allowed –at least on educational grounds- to sign an application form requesting a student credit card.

Of course, I understand that all of this is just wishful thinking and that in most cases it will not work like that at all. But it sure does not hurt to dream, right?