Power of Plastic!
Leena Kamath

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Everyone in America has a credit card. Whether it is a CEO of a company or the housewife or a construction worker or even a poor graduate student, a credit card is an important part of our wallet. The string of commonality between all these people from different strata of life is that they possess a credit card. More so the students because they are the prime targets of any credit card company. 

The student population is perpetually in debt. After signing for every college loan possible, balancing work-study positions and part-time jobs to make extra cash, there is never enough money to pay all the bills. But what happens when you have paid off your last month's rent and there is no more money? You turn the corner to meet an amiable, eager individual trying to entice you to sign yet another form. 

Desperate and hungry, you fill out the forms as fast as you can and walk away unsure of what you signed. A few of weeks pass, and the next thing you know you have received yet another credit card. Panic-stricken, all you can do is scream.

Well, in the beginning I thought I had received a cool credit card where I can sign off my magic name and survive in this big bad world of Gap, Victoria's Secret and Ann Taylor. But later, I realized I should have been more careful and read the fine print below before signing away my name and social security number to an unknown person. Credit card solicitors almost daily barrage college students to apply for a card. Is it fair to target such a vulnerable audience? Please remember, I am not casting aspersions on the credit card companies such as Citibank, American Express or Discover who are just trying to promote their products. Most of the "solicitors" work for legitimate companies like On Campus Marketing or Card Marketing Services. Still, other organizations send the wrong people to area college campuses. 

Beware of people who tell you it's OK to fill in false information. Last Fall, a young man came up to me and almost begged me to fill out the form. He pleaded with everyone who walked by to sign because he said if 100 people applied, he'd win a trip to Florida. 

They target main areas in and around the college campuses like the library, cafeteria and the main entrances. 

According to literature from the Consumer Credit Counseling Service, applying for a credit card can be a responsible decision for a college student. Students should take it as seriously as applying for a driver's license. Credit cards aren't evil; they can't max themselves out. Only the cardholder has the ability to do that. Most parents encourage their children to have a credit card in college since it is the best time to start building one's credit history and also after graduation parents won't have to co-sign on car loans and apartment leases. 

Now, everything is just a click away. All you need is a credit card number and key information; one can buy everything on the Internet. A cardholder can make Internet purchases and often receives buyer incentives such as coupons, discounts and cash back. You can rent an apartment, buy a car, gifts, clothes, airline tickets, shoes, grocery, computer, painting and even a single can of coke!

Before applying for a credit card, remember it's not really free money. Credit history stays with you for at least seven years, so it is always better to be responsible. If one has to survive in America, a solid credit history is needed. Now, I understand why my husband is obsessed with his card payments and credit history. 

Should you find yourself in out-of-control debt, call CCCS at 1-888-511-CCCS for help. Services are free and confidential, and it can help put your finances back on track. 

Of course, there are something's that money can't buy, for everything else there is MasterCard!

-LKS