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College students must know how to use credit cards according to their ability


Hello friends, do you know that why credit card companies’ big target is college students even they know many students already covered in full of debts. You might be seen in the news papers or in the TV news that college students are holding a number of credit cards and most of them using credit cards carelessly. Some of the college student’s credit card debt is approximately two thousand dollars.

Nellie Mae, the largest student’s loan company (in USA) says that two thousand dollars is average, some the students is more the two thousand dollars under debt. But the loan company’s point of view that for adult two thousand dollars is not a big amount. If their parents can pay college fees, then they can surely pay off the credit card loan for their kids.

In USA most of the loan and credit card companies think that students are their ideal customers. According to a popular shoe manufacturing company their marketing tie up with one of the big credit card company. These credit card companies said ‘the college students are the perfect target for our marketing efforts. If these students can not make the full payment, we have an option to charge them penalty fees and also get interest amount. This means even more revenue for us.’ According to credit card Company’s point of view, revenue is the main thing.

The solution to this problem is actually quite needful:

• Need to teach these college students how to manage their funds and how to use credit cards.

• Teach them it affects the chances of getting a Mortgage and other loans later on.


I think if they come to know the purpose of using credit cards and how manage their finance, I am sure that most of them get out of it.

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