College Credit Card Hustle

Many well known public universities and colleges’ alumni associations have a very deceiving process of making money. The alumni associations are selling the students’ personal information to credit card companies. They will often times decorate the credit cards with appealing colors and also the school mascot. Since the cards look appealing to the students and the fact that most undergrad students are very broke, they see the card as an opportunity to pay for a lot of the stuff they need. The students are also very vulnerable to late fees because they often don’t have a steady job to be able to pay for the monthly payments. They are also vulnerable to hidden fees or increasing interest rates because they do not have the experience in banking or take the time to fully read and understand the contract. Alumni associations will sometimes even get paid more if the students use the school credit cards often. These credit cards that the students are intrigued to buy can be very dangerous if they look at it as free money as many do. Before they know the interest rate has sky rocketed and the $3000 they were in, all of a sudden turned into $7000 because of the interest rate and/ or hidden fees they get charged with.

Should the students be more informed and educated about credit cards? Or should the ones intriguing the students to buy the cards make sure they are informed?