Messing up your application – part 2 of 3

Uncategorized, credit

How can you mess your student credit card application
Part 2

For these students, student credit card sharks offer an escape door.

The “door” comes in the form of a student credit card promoter; their job is to appeal to the student’s sense of camaraderie and get him or her to sign the application form, with the natural understanding that “if you do not like the idea, you can cancel at any time, but I will still get the commission”.

This much is true, but the sad thing is that in most cases, the student credit card sharks will provide the student credit card to the student fully activated (which is illegal in some states and countries) but being students and young people, this is not common knowledge.

Neither is the fact that in most cases, when the student does pick up the phone and calls to cancel the student credit card card. An operator informs him or her that in order to being able to cancel the product he or she has to pay the full annual fee; and they are convinced to keep the student credit card “until the year expires, so that way you get your money’s worth”

The only thing that will give as a result from this attitude is that the student is 20% more likely to use the student credit card “at least once” with the idea of paying it back right away than if he had given the annual fee and discarded the student credit card immediately.

Yet, despite the best efforts of the parents in providing the necessary elements as an education on the care and defense against these student credit card sharks, peer pressure can easily cause and “force” the student to sign the student credit card application.

So what is the best way for a student to avoid peer pressure and keep his or her ground and determination not to sign the student credit card application. There are several things that a student can do when saying “no, thanks” is not a social possibility.

• Delay the moment

Playing it dumb could not have a better moment to be presented and acted out. When a friend approaches you and states that he or she requires you to sign a student credit card application form in order to being able to achieve his or her goal and receive the commissions that he or she might need, simply say that it will be fine, but not at the moment.

Student credit cards.com @ May 29, 2008