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Students usually learn many lessons while they are in school. Some of the lessons are learned in the classroom, books and out of life experiences. One of such lessons learned through life experiences is the danger they face because of credit card use. Credit card companies solicit college students without considering the after effects of the high credit debt for the students. The companies use various techniques in order to lure the students in colleges, for example, special interest rates or free prizes and gifts.

The companies also offer education services to students to give explanations to the students why the cards are important to them. This problem starts when students apply for these cards but have poor debt management. Students are lured to acquire these cards due to the marketing ploys, which are directed to them. The ploys include giving items in exchange for the application for a credit card or its usage for the first time. Example of these items includes video game systems, gift cards or free airline tickets.

Students get into debts because they have an assumption that they can get out of debt after they graduate from college. This is usually a misguided belief because the credit cards have high interest rates (Santrock & Halone 2008). The students do not have knowledge of interest rates that accompany the credit cards. Students feel comfortable to accumulate the debts because they believe that the current financial situation, which they face, is temporary and that the debt is short term and could be repaid easily.

Therefore, they do not view it as a problem. This burden, which students carry into their future, hurts them in many ways. Their future budgetary plans are affected because they have to pay credit cards debt, which has high interest. (Santrock & Halone 2008). References Santrock, J. & Halone J. (2008) Your Guide to College Success: Strategies for Achieving Your Goals, 6th edition, Boston, Cengage Learning.

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