tag:blogger.com,1999:blog-6525334973892331389.post6961645258166447439..comments2023-06-12T11:50:19.679-04:00Comments on not the jet set: Getting a Credit Card in College - Dumb, dumb, dumbMichaelhttp://www.blogger.com/profile/05449100145223553747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6525334973892331389.post-4463808816374186542009-05-19T22:01:31.406-04:002009-05-19T22:01:31.406-04:001st Anony-
The Mrs. carried a card through college...1st Anony-<br />The Mrs. carried a card through college, never caried a balance and collected sweet, sweet rewards. How is that stupid? The only way to get big checks back is to spend big bucks and studies show (time and time and time and again) that you are spending more, more often, and with less pain when doing it on plastic. You may also want to read on.....<br /><br />2nd Anony-<br />College kids do have jobs. The Mrs and I were both in that 78% with jobs while in school. And that really doesn't mean a whole lot. I know what a lot of those jobs are - waitessing, retail, food service... tips, commission, minimum wage, many typically part-time jobs just making enough to maybe cover pizza, beer and gas. <br /><br />And I know that tons of college kids <I>are</I> irresponsible with money. You may want to note the comments from the Mrs. above as well as the reports cited in the <A HREF="http://www.notthejetset.net/2008/09/college-kids-and-credit-cards.html" REL="nofollow">original post</A> - 1 in 4 leaves school with $5k in credit card debt and a slight majority left school with any amount of credit card debt.<br /><br />And back to the bigger picture... It is a product - a heavily, heavily marketed product - that exudes irresponsibility. Paying of the balance each month is a wonderful theory - you're likely learning a lot about theories right now. Having been through that, and several years of the reality of life after college, I can tell you that a lot can happen in life to cause you not to pay that bill. That's called risk and it's the part you're ignoring.<br /><br />Thanks for the comments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6525334973892331389.post-85510830141447883252009-05-19T17:27:23.242-04:002009-05-19T17:27:23.242-04:00What makes you think that college students don't h...What makes you think that college students don't have jobs? According to the <A HREF="http://www.acenet.edu/AM/Template.cfm?template=/CM/ContentDisplay.cfm&ContentFileID=1618" REL="nofollow">American Council on Education</A>, 78% of them do, which makes them "more likely to work than they are to live on campus, to study full time, to attend a four-year college or university, or to apply for or receive financial aid." <br /><br />I don't doubt that many college students are irresponsible with money, but having a credit card does not put you in debt if you pay off the balance every month. As a student I find this post condescending towards young people who do work and manage their money responsibly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6525334973892331389.post-50227110979015584282009-05-19T17:00:31.232-04:002009-05-19T17:00:31.232-04:00I don't believe that the Mr. is being to hard at a...I don't believe that the Mr. is being to hard at all on credit card companies. Most people who think that credit cards are great tools fail to see the big picture. <br /><br />These companies do make money off of you. The reason is that the store you shop at have to keep their prices higher so that they can cover the fees every time you swipe your card. <br /><br />I also believe that it is wrong to support an industry that goes against my beliefs and morals. Their collection methods are out of control along with the way they change rates on people for no reason. That is not the kind of industry I want to support. <br /><br />On the college end consider this. Most kids have never been taught by their parents how to handle money and the example that they saw at home was to swipe everything. Then they go to college get a card and start swiping because that is what you do. Are we to be surprised that suicide is the second leading cause of death for college students? And the number of them caused by debt stresses is exploding.Mrs. (not) the Jet Sethttps://www.blogger.com/profile/10417915655613428731noreply@blogger.comtag:blogger.com,1999:blog-6525334973892331389.post-65941347120742354852009-05-19T14:07:00.000-04:002009-05-19T14:07:00.000-04:00You are far too hard on credit cards. I got my fir...You are far too hard on credit cards. I got my first one from my parents in college with the sound advice that you only use it to buy things you have the money for. I continue to do just that to this day and in exchange for using my credit cards, get reward checks of between $400 and $600 each year. How is that stupid? Credit cards by themselves aren't stupid. People who use them irresponsibly are...Anonymousnoreply@blogger.com