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Credit card companies Essay

Credit card companies should not sell their products on campus to college students because this can be a means of encouraging irresponsible consumer behavior and could result to added burdens to the already financially challenged college students. Credit card companies should stay away from college campuses when selling their products because this can result to the proliferation of irresponsible consumer behavior. On the outset the basic premise that governs credit cards is the ability to purchase products without cash, so, this alone is a means of encouraging debt.

Buying items using a credit card is just like making out a small loan from the card company and paying for this loan at a later date. Responsible consumer behavior dictates that one should not take out purchases if one is incapable of paying for these purchases with available owned funds – the money represented by the credit card is not owned money, what is owned in this scenario is simply the privilege of using the company’s money temporarily but paying for this sooner or later.

Responsible consumer behavior also dictates that one should not spend money that is yet unavailable; such is like counting chickens even before eggs hatch. Credit card companies that

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sell their products on campus are very likely to influence the purchasing behavior of young minds who are at a critical stage of their development, and the inculcation of wrong consumer behavior may eventually become bad consumer habits for these individual who yet in no capacity to earn. This brings me to the second point; that credit card companies add to the existing economic burdens hounding college students.

Credit card companies should keep out of college campuses when selling their products because they are apparently opening the floodgates of economic distress for students who are already financially challenged. College students do not have an earning capacity yet and only those who are looking forward to a paycheck should own credit cards because such paychecks would enable patrons to pay for their incurred purchases. College students do not get paychecks, in fact, most of them pay the schools they go to not with their own money but with money given to them by their parents or money loaned from a student lending institution.

College students already have enough debt to deal with and giving them the opportunity to incur more debt through credit use is quite insensitive on the part of credit card companies. On the part of the college student, he/she should focus on spending for his education, first and foremost, before spending on debt incurred from using credit cards because as a student, one’s first priority should be to learn and to improve academically in preparation for professional and real life.

Of course, the case is different with students who are exceptionally affluent, but these kinds of students comprise only a small percentage of college students and most are struggling to keep their finances afloat even with just their tuition fees and basic spending needs to worry about. It such an irony to see that while some students could not even pay for their matriculations on time many of them still fall for the temptation of owning a credit card.

So, the presence of credit card companies on campus with the sole purpose of selling their products is a temptation in itself because it lures students into believing that they can be financially capable but in fact, if the fine print is read, credit card companies are never synonymous with financial capacity. Credit cards are merely discreet ways of admitting that economic responsibility should be thrown out of the window in favor of debt enslavement and financial desperation.

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