Dangers of Credit Cards
Credit Cards
Speech 106
Introduction:
I. I would like to begin by tell you about a story that took place about four years ago. I was on the phone with a young lady who I did not even know and she is crying her heart out to me. She was telling me how she does not work, goes to school full time, and didn’t know what to do. She was pleading with me to understand how she did not know how she got in the situation that she was in. Of course at that point in time I had no choice but to feel sympathetic for her because I was in the same situation. But I could not let her know that because I had to do my job. Four years ago I worked for the Law Office of Mann Bracken in Atlanta, Georgia and I use to be a debt collector.
II. According to a 2005 report done by Nellie Mae seventy-eight percent of undergraduate students between the ages of eighteen and twenty-five hold credit cards. Just stop and think, how many credit cards do you have and how many of those credit cards a near the available balance or already maxed out?
III. All the information that I have learned was gathered through research and personal knowledge.
IV. Today, I hope to persuade you decrease your chances of getting in debt by having no more than two credit cards.
V. I will share with you some problems that may occur through excessive use of credit cards and offer suggestion on how to prevent credit card debt.
Body:
I. First main point: In a 2008 article, “The Truth about Teens and Credit Cards” by financial writer Dave Ramsey, he stated that teens are the number one target for credit card companies.
A. The first problem that may occur through excessive use of credit cards is getting addicted. 1. Credit card companies know if they can get a credit in the hands of a college student they will have a customer for a long time.
a) Teens think of credit cards as free money, which means they focus on the fact they have the money now and think about the consequences later.
b)
Speech 106
Introduction:
I. I would like to begin by tell you about a story that took place about four years ago. I was on the phone with a young lady who I did not even know and she is crying her heart out to me. She was telling me how she does not work, goes to school full time, and didn’t know what to do. She was pleading with me to understand how she did not know how she got in the situation that she was in. Of course at that point in time I had no choice but to feel sympathetic for her because I was in the same situation. But I could not let her know that because I had to do my job. Four years ago I worked for the Law Office of Mann Bracken in Atlanta, Georgia and I use to be a debt collector.
II. According to a 2005 report done by Nellie Mae seventy-eight percent of undergraduate students between the ages of eighteen and twenty-five hold credit cards. Just stop and think, how many credit cards do you have and how many of those credit cards a near the available balance or already maxed out?
III. All the information that I have learned was gathered through research and personal knowledge.
IV. Today, I hope to persuade you decrease your chances of getting in debt by having no more than two credit cards.
V. I will share with you some problems that may occur through excessive use of credit cards and offer suggestion on how to prevent credit card debt.
Body:
I. First main point: In a 2008 article, “The Truth about Teens and Credit Cards” by financial writer Dave Ramsey, he stated that teens are the number one target for credit card companies.
A. The first problem that may occur through excessive use of credit cards is getting addicted. 1. Credit card companies know if they can get a credit in the hands of a college student they will have a customer for a long time.
a) Teens think of credit cards as free money, which means they focus on the fact they have the money now and think about the consequences later.
b)
Cited: “Facts for Consumers.” Federal Trade Commissions. 13 August 2008. Federal Trade Commissions. 1 December 2008. < http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre32.shtm > “Truth about Teens and Credit Cards.” Life.Money.Hope.-DaveRamsey.com. 2008. The Lampo Group Inc. 1 December 2008. < http://www.daveramsey.com/the_truth_about/teens_and_credit_cards_3592.html.cfm > “Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends.” NellieMae. May 2005. NellieMae. 1 December 2008 < http://www.nelliemae.com/library/research_12.html >