Credit card companies soliciting debt
College students need to beware what a card-holding status could truly mean

By Kristin Delorantis
Skiff Editorial Writer

Last week, USA Today reported that the average college undergraduate has more than $2,000 of credit card debt. For anyone who spends more than a couple hours a week on a college campus, this statistic isn’t very startling.

College is the time of transition for teen-agers from dependent high school students into responsible adults. Credit cards require responsibility and many students believe they are mature enough to possess the plastic money. Debt, however, provides them with a rude awakening.

Students are not to blame for the rise in credit card debt among college students. Credit card companies bombard students from every possible angle. Credit card solicitors set up on campus, walk around campus and occupy booths at local sporting and social events where they know students attend. These companies lure defenseless students in by offering free gifts to the first few hundred or so that apply or sometimes even anyone who is willing to take the time to fill out the application.

Last semester, there were some people nonchalantly hanging around outside the Mary Couts Burnett Library with attractive day planners and candles. Enticed by the cute twin candle set, I pranced over, wondering how I could own a pair. The representative informed me that she was with American Express, and all I had to do was fill out the application and the adorable heart candle set was mine.

As soon as I heard the words “American Express,” I attempted to tell the convincing lady that I was not interested. She reiterated that all I had to do was fill out the application. I really wanted the candles, so I gave in, planning to just throw the card away when it arrived in the mail. I did just that.

These predators also tempt students in other ways. While they realize students are easily swayed by an attractive free gift, they know that some students are not weak enough to fall prey to that tactic.

Still, companies have found a loophole to attract these students: mail. Students are always receiving credit card applications through the mail, many of which are strewn all over the mailroom floor at the end of the day.

However, students are suckers for wanting to own the attractive credit card exhibiting pretty pictures. What proud student would object to owning a credit card sporting the TCU mascot?

Also, companies are beginning to introduce all sorts of animated scenes and attractive pictures to gain interest rather than the plain one-color image normally presented. These visual aids make it even more difficult to deter debt.

Recently, a friend received an application for the Gold Platinum American Express card. He was excited as he read the letter in which the company told him that he was of the elite group of students that were offered the card and they were proud that his credit was so good at such a young age.

To reward him, they were going to issue him the card with no limit. He could spend as much as he wanted, as long as the balance was paid in full at the end of each month. Of course, if he was to skip even one minimal payment, he was to suffer the consequences of a hefty late fee.

In addition, since he was such a special guy, he was given the opportunity to pay $75 a month to keep the card. He was allowed to pay a monthly fee to spend his own money.

American Express is not the only company in which using attractive tactics to lure student interest. The majority of credit card companies do. Considering the negative connotation associated with credit cards and debt, that is the only way to interest students.

So, the concern about college students and credit cards should not necessarily be about students being lured into attaining credit cards, instead, it should be how to get themselves out of the debt parents have sheltered them from all these years.

Kristin Delorantis is a sophomore broadcast journalism major from Mansfield.
She can be reached at (k.a.delorantis@student.tcu.edu).

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