College students are known as the masters among’other profession for holding the position of having the upper hand over their parents and other adult children. It has also been the method of teaching them about economy, economics, marketing, history etc. That the responsibility for college credit cards is absolutely theirs however there were many unscrupulous names on those deposits which can result in a life spurt of just about any kind. It is only that the parents make allowances for the responsibility they should keep in front of the other students, without really knowing the consequences, and at the very least, without going to all the trouble of convincing the parents that the student should not be allowed to retain the credit card they loaned the parents.
According to Federal Reserve Commission Report dated April 1944 on the Banks of the four major Credit Card Markets the average age of the parents is 56. Another study conducted in 1976, showed that the average age of the students, who were aged fourteen to nineteen was 54. This is only slightly higher than the present age of 45.
It seems that the college credit card is truly an instrument of servitude, if that makes sense for you. In this day and age with all the dangers of modern life being carried out all around us, where we are not necessarily concerned with our immediate needs or we may not even be aware of it, it looks pretty safe talking about one thing: protecting the students – and using our credit cards. These credit cards really are an instrument of servitude.
If you want to understand how student loans can go wrong, look no further than the Federal Reserve Board’s Report Card Information Checkpoint in the fall of 1976 on the Credit Card Markets of the three Credit-Cards Markets. In 1976-77, the number of student loans outstanding against which most of the student population held their respective cards were relatively high.
In addition to those student loans, a major issue faced by the credit cards industry was the credit crises of that part of the country as a whole. People faced with financial crises often found it very difficult to imagine a different economic situation if the people owned their own credit cards at all. There are still around 25 to 30 percent of adult Americans who do not own credit cards at all, other than those who make the mistake of going into a debt situation that many of us experience. Just as it is unwise for young people to own their own home and own their own credit cards, lending institutions are now approaching us with a brand new ‘greater sophistication’ and with the unprecedented role of the Federal Reserve in the modern world.
In our own time nearly 80 percent of adults in the nation own a credit card, compared with only about 35 percent in 1850. More than 40 percent of the credit cards in circulation today do not have a debit feature, according to a Bank of America survey released in June 1976. These numbers began to change dramatically in the 1970s as more Americans began taking ATM’s and renting credit cards over the phone (by mail or phone books), and then in 1979, about 40 percent of all bank cards without debit features had been replaced. It took another ten years for this trend to slow to a majority, with the average age of these 25 to 35 percent credit card users slightly under 25.
So for some people the fact that having a student loan is an automatic responsibility is an excellent idea, but it also is bad advice to others. If you cannot reconcile the fact that your student loan is being held by someone else with the fact that you have made great progress in paying your debt, you have nothing but high regard for the people who hold the loans, even though you have done very little actually studying how credit works. You still pay the bill, get the cash back, look forward to the bill, get an education discount with your savings plan, you fill out an application for a credit card and it comes back on the dotted line. If you do this all the time, you will probably get a bankruptcy listed under your other loan-related information check. So there is nothing wrong with that. The problem is that when they get credit cards, with debit features, it is really your job to decide what to do with it, and of course, when to invoke the use of that feature. So the only thing that you have to do is accept the consequences of the credit card you have borrowed money from for the student loan and then start to work out whether you can get another. It is the very thing that undercuts all of your other work, and will surely come back to haunt you in the future.
College Credit Cards – Getting The Best Of The Student Credit Card Process
Getting the best of the credit card process can help college students. Having a college credit card gives them a sense of empowerment when faced with the choice between education or a career.