It is blatantly unethical to market credit cards to college students. Credit cards are now considered a serious threat to students, even greater than alcohol or sexually transmitted diseases according to sociologist, Robert Manning (qtd.in Hoover 3). Students are easy targets for banks. At eighteen, the average age of a college freshman most of them have no previous banking or credit experience. This puts them in a vulnerable position and they easily give in to the lures and incentives offered by these companies. Credit card companies often distribute free T-shirts, Frisbees and long distance minutes to those who apply for credit cards. Reports suggest that debt related problems such as unpaid balances and late payments are higher among those students who sign up simply to receive these complimentary goodies (Gordon 262). Generally, in the case of college students higher
The lifestyle of college students encourages credit abuse. Many students support themselves; they rely on part-time jobs as well as on student loans and financial aid. With mounting bills and job uncertainty more and more students find it difficult to turn down credit cards. A study conducted by sociologist Robert Manning indicates that nearly seventy percent of undergraduates have at least one credit card with a “revolving debt” averaging more than two thousand dollars (qtd. in Gordon 261). Credit cards provide easy access to otherwise unaffordable expenses. Students tend to misuse this flexibility and find themselves knee deep in debt. Banks and credit card companies take full advantage of their ignorance. As Debbie Alford, a student at University Of Central Oklahoma clearly explains, “It’s a dangerous situation when the banks know exactly what they are doing, and the
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