College Students Facing Credit Challenges
Rough Draft
Leigh Ann Ofeimun
COM/156
September 4, 2011
Lisa Acerbo
Rough Draft
The credit card companies are using vigorous practices to entice young college students to get credit cards, and paired with the gaining “high social status” and self-gratification, students have completely bypassed the responsibility of getting an education about credit card use and how to stay out of debt. The use of free gifts and food by credit card companies has contributed to the students’ lack of concern for the importance of learning and asking questions, such as, what are the current interest rates for the credit taken and will they have the ability to repay the credit used? As college students pass the credit card companies’ tables set up with several enticing “freebies” such as: T-shirts, Frisbees, water bottles, and even free food, the consideration of learning the basics of building credit and how to go avoid indebtedness, falls by the wayside with the excitement of free gifts. Students are more susceptible to credit card companies and their attractive “enticements” and, therefore, credit card companies should not be allowed on college campuses.
According to CreditFYI.com(2004), “Aggressive credit card marketing on college campuses today ignores standard underwriting practices that consider factors like credit history, debt-to-income ratio and income.” If these factors are taken into consideration when a college student applies for credit, would a student have the same chance of being approved for a credit line? The student may not even have an understanding of the above factors and credit card companies are taking advantage of the naiveté of the student. This leads to the age factor of college students. Most freshmen are on average 18 years old and just out of high school. Most 18 yrs olds do not have life experience and will take the credit card vendors at face value, never considering the underlying problems they will face when having applied and
Leigh Ann Ofeimun
COM/156
September 4, 2011
Lisa Acerbo
Rough Draft
The credit card companies are using vigorous practices to entice young college students to get credit cards, and paired with the gaining “high social status” and self-gratification, students have completely bypassed the responsibility of getting an education about credit card use and how to stay out of debt. The use of free gifts and food by credit card companies has contributed to the students’ lack of concern for the importance of learning and asking questions, such as, what are the current interest rates for the credit taken and will they have the ability to repay the credit used? As college students pass the credit card companies’ tables set up with several enticing “freebies” such as: T-shirts, Frisbees, water bottles, and even free food, the consideration of learning the basics of building credit and how to go avoid indebtedness, falls by the wayside with the excitement of free gifts. Students are more susceptible to credit card companies and their attractive “enticements” and, therefore, credit card companies should not be allowed on college campuses.
According to CreditFYI.com(2004), “Aggressive credit card marketing on college campuses today ignores standard underwriting practices that consider factors like credit history, debt-to-income ratio and income.” If these factors are taken into consideration when a college student applies for credit, would a student have the same chance of being approved for a credit line? The student may not even have an understanding of the above factors and credit card companies are taking advantage of the naiveté of the student. This leads to the age factor of college students. Most freshmen are on average 18 years old and just out of high school. Most 18 yrs olds do not have life experience and will take the credit card vendors at face value, never considering the underlying problems they will face when having applied and
Citations: of original works within the body of the paper and on the reference page follow Axia Writing Style Handbook guidelines. The title page and page numbering follow Axia Writing Style Handbook guidelines, as well. | Great use of resources. Review how to format a reference list at CWE. | The paper is laid out with effective use of font styles and white space. | | Rules of grammar, usage, and punctuation are followed. | | Spelling is correct. | | | | Total 50 Points | Points Earned 50/50 | Overall Comments: | Great drafting. You have a draft that is close to complete. Let me know if you have questions. | I did not use process and analysis in my rough draft, because my essay does not fit this particular rhetorical mode. My essay is not a how to or how something works type of writing. When writing my essay, I used the cause and effect rhetorical mode. My essay is about the cause of credit card companies and their eagerness to issue credit cards to college students, and the effects the credit causes when young adults are not educated in the use of credit.