Do credit card companies target uneducated and young people?
It seems credit card companies start targeting young people, before they are fully educated in responsible spending.
Oftentimes, a credit card company will specifically target high school students and college-bound students, by using catch words such as "this will help you". But, they neglect to mention their services comes at a cost, which can become exponentially costly in the long run. Young people don't completely understand long-term interest rates.
Posted by: GlisteningNelsonCredit card companies targeting uneducated and young people
Yes credit card companies target uneducated people and you might be wondering why? This is because credit card companies know that young adults are not wise and knowledgeable about how to take care of their money, many who would buy something as long as they like it, not paying much attention to the price tag. Young adults are not fully aware that buying a brand new 2013 model of a Ford Escape will actually depreciate their net worth over a period of time, nor do they realize that credit card companies are very willing to give them a post-secondary education loan because it will put young adults at long-term debt while they'll be racking in the money while you're hard at work on the job you just got after graduating. Banks and credit card companies are motivated knowing that you have what they want, your hard-earned money soaked with your blood, sweat and tears.
Posted by: AnonymousThey target young people so they can give them loans for their post-secondary school education.
They do this because young people have no income. They take advantage of that and they charge lots of interest. If the student decides to go even further into education and decide to get a Master's degree or a Ph. D., they will end up with a lot of debt because they just went through ten years of education. On top of that, there is all of that interest.
Posted by: AnonymousCredit card companies excessively target young people, as is evident on many college campuses.
Credit card companies can be seen at nearly all college campuses, across the country. They try to hook in young people with incentives and prizes. The same tactics are found at many sports venues. These people sign up for a card, without thinking, just to get a t-shirt, towel, or other cheap giveaway. They do not understand the repercussions.
Posted by: EImerN4thCredit card companies are extremely predatory towards the young and the uneducated. They target the young on college campuses and the uneducated through mailings promising no or low interest rates.
Credit card companies make the bulk of their money through interest and late fees, therefore they prefer to put credit cards in the hands of people inexperienced with finance. The young and the uneducated are more likely to run up credit card debt and accrue interest, which is the bread and butter of the credit card companies.
Posted by: 5hinyIuciaI believe that credit card companies often directly target young people.
A look at any major gathering of young people in the United States shows that the credit card companies are out attempting to gather new clients. Any time that you go to a concert or sporting event you will find numerous credit card companies offering "free" gifts to sign up for their credit cards. Also, many stores which cater to young shoppers offer special credit cards to their customers with absurdly high interest rates. Credit card companies know that younger people tend to make less money and carry more debt, resulting in higher interest payment profits for the company. Therefore, they will target the more profitable young consumers.
Posted by: 5h4rdWorthIt is targeted at young knowledgeable people
I think that the credit card companies aim for these young adults because they know that they're new to the credit card and don't have experience with them. Therefore they take advantage of their little knowledge about credit cards, if they were older adults the companies wouldn't be able to trick the adults as the young ones.
Posted by: AnonymousCredit card companies do target the weak, because they are only interested in making money.
Credit card companies are interested only in making money. The companies have a history of targeting people, regardless of their ability to qualify for these cards. The youth, uneducated, poor and elderly constantly receive offers from various companies willing to give them a card. These companies know full well that these populations cannot reasonably afford these cards, yet issue them anyway.
Posted by: TedieDelightI agree that credit card companies target uneducated and young people, because statistics actually prove this theory.
Ask any millionaire how he got wealthy, and he will tell you he stayed debt- free. Mountains of debt rob people of their quality of life and keep them poor forever. Credit cared companies know this, and targeting those who are poor, uneducated and young is what their system is all about. Wealthy people don't need credit. Intelligent people can see what a scam that kind of debt really is, and the young are too naive to know better.
Posted by: N3vinFaceAdvantages to targeting them.
I think that they do target uneducated and young people because they don't know the pros and cons to having a credit card. For all they know, they could buy anything and even go over their limit which is an advantage to credit card companies but in the end, ONLY the credit card companies are benefiting. They target them because they make more money from them, since young people buy what they want and what seems like a good idea which is everything.
Posted by: AnonymousYes, I think credit card companies target young and uneducated people, because they will not read the fine print.
Many credit card companies target students by offering them free points, and things of that nature, for making purchases. Since the average college student is not wealthy, it is very appealing to them. Many of these students neglect reading the fine print, and they end up paying a lot of extra money in fees and interest rates.
Posted by: StevyDemonyes
why would anybody do something that they no would hurt them for along time? I don't think they will so if the uneducated of the poor or needed badly would do something instead of making a problem that might hunt you. And credit company no this.
Posted by: AnonymousAbsolutely, their goal is to make money and that is done by taking advantage of people.
Credit card companies send billions of solicitations to young and the uneducated, those who cannot afford the ease of credit cards. Banks and CC companies rely on the income from people who get themselves into too much debt. An uneducated person or a young person who either cannot understand how to properly budget their finances or just doesn't have the income to budget properly is a credit card company's dream client.
Posted by: R43ShepAngry at schools for tuition
The same people who run these colleges and went to them without any crazy student fees are hiking it up for everyone else. If everything's price is going up, shouldn't minimum wage and average salary go up to balance it out. In times like this the government should be trying to help us the citizens out instead of watching us fall apart.
Posted by: AnonymousCredit card companies definitely targeted young and uneducated people because they are the most vulnerable.
It's part of a credit card company's business model to target people whom are easy to fool. Once someone gets a credit card, they are more prone to buying things they cannot pay for. The way the credit card companies get people is by interest rates. They increase dramatically, even after a month, and drag people down into a never ending circle of paying interest off interest.
Posted by: RayEarYes, because credit card companies are nothing but scammers.
As soon as I turned 18, I had a million offers from credit card companies. As I went through college, these seemed to kind of dry up. Credit card companies target people that they can hook in and stick with interest charges so high that they will never get out of debt, no matter how hard they try.
Posted by: MarriedKelvin72They teach the bad habits of extravagant spending and finally leads to debt trap.
Yes, I totally agree that credit card companies do target uneducated and young people. Credit card companies target this group to penetrate the youth market to increase the sales across various departmental stores. They are of the age group and class of people who spends more for anything that comes in front of their eyes. So, it is very easy for credit card companies to pitch credit cards to this group of people because the companies know they are very easy to convince, and they won't decline the offer.
Posted by: I0rFashionThey Only Want Money
The credit card companies will target the uneducated and young because they want them to go into debt since they will be collecting interest from them. If their clients always pay back on time, the credit card companies won't be making any money off of them. The credit card companies are there waiting for the uneducated who do not know the difference between interests, and just wait for them to go into debt.
Posted by: AnonymousCredit cards target young adults
Yes, I do agree that credit card companies target young and uneducated students. These companies target them because of the fact that they are uneducated and because they are still young enough to fall to those simple advertising tactics. Since most young adults don't have a credit card they can cheat them by hiding fees
Posted by: AnonymousI agree that credit card companies target young and uneducated people.
Credit card companies are smart. They perceive that young people with little financial experience are more concerned with the look of their cards than the "fine print" about things like annual fees, APRs, finance charges and the like which their more experienced elders look for. The pictures of the potential card designs are printed in bright, attractive colors, while the information that really defines the relationship between the company and the cardholder is in small print on a black and white piece of paper, which is usually separate from the glossy images of the flashy cards and potential purchases. It's a grown up version of the marketing that has so promoted sugary cereal to children-- flashy colors arouse interest and desire, while the black and white "facts" are less interesting.
Posted by: Shim2freeI agree that credit card companies do preferentially target uneducated and young people because they are more profitable to credit card companies.
Young and uneducated people are specifically targeted by credit card companies because they are more profitable to them. Young and uneducated people tend to have lower income levels and rely more heavily on credit for purchases. As such, there is a higher chance for young, uneducated populations to carry a balance over the grace period and, thus, be charged interest. Therefore, with a higher chance of interest, the credit card companies find young and uneducated people more profitable.
Posted by: E2ecM5nthey have no idea
Well because the uneducated people don't have any idea on what they are doing by buying and using the credit card. The credit cars are actually a loan that the credit card companies are giving out. If the user misses a payment, the credit card companies have the right to charge them crazy fees.
Posted by: AnonymousCredit card companies make credit available to young people long before they have learned to manage money responsibly.
Many young people live with parents longer than they did in the past. They are only expected to contribute a small amount of earnings for accommodations and food if at all. Credit card companies make it easy for them to buy what they want. They can charge education, travel, entertainment and unnecessary purchases. When they leave home and have to make credit card payments as well as cover expenses they are ill equipped to do so. Some will examine different credit cards to see which has room to charge another purchase. Some will be unable to make minimum payments and fail to understand the amount of money they are paying in interest.
Posted by: WideHung32Of course they do!
Yes I think credit card companies target uneducated and young people because they aren’t fully educated in spending their money responsibly. Oftentimes credit card companies will target high-school students and college students because they have a disposable income. And if they don’t have an income they take advantage of this my charging lots of interest. They also target young people because they can easily get them hooked with incentives and prizes.
Posted by: AnonymousCredit card companies make cards far too available to young people, who may not use them wisely.
Both my children received their first "pre-approved" cards in a blind mailing when they were in their Senior year of HIGH SCHOOL. Neither of them had a job at the time, nor was there any need for them to be using credit. Both of them chose to cut up and dispose of the cards.
They are among the lucky ones. My daughter has a friend with over $10,000 in credit debt. He received the cards, accepted them, and promptly spent to their credit limit. It would seem that credit card companies are banking on just that type of behavior!Posted by: WorldMeadCredit card companies are notorious for canvassing college students, those just turning 18 and others who may be vulnerable to their offers.
Credit card companies have long preyed on college students who easily are convinced to get a credit card. Some students have run up enormous debt on both credit cards and college loans, some using the credit cards to finance college expenses also. Once they graduate, they have an enormous debt burden and face not being able to earn enough to pay the debts. Other groups that are vulnerable to credit card advertising have also been targeted. In the view of the credit cards, this makes sense as they accumulate numbers of customers with high debt and interest rates.
Posted by: 54IInfernoThey target everyone, but especially those who are uneducated and of maniac type become easy preys for them.
Credit card companies are made for the profit of a certain organization. So, they always look for nothing other than their own profit. From shopping using credit card to different types of transactions, everything is done using credit cards, and some maniacs want to do shopping always using the credit cards. That is the reason by which they spend the amount for their shopping basket, as well as he credit card fees. The same thing happens in case of different transactions. So, credit card companies never try to fool people or never act as frauds, but act cleverly and make the uneducated people become easy preys of their cleverness.
Posted by: taiboxerIts true
Most younger and uneducated people are unaware of how exactly credit card companies work, the late fees they charge, and the concept of interest. They consider it "free money" which they'll payback later, and credit card companies know that this is often an offer they can't resist.
Posted by: AnonymousAbsolutely, credit card companies target young and uneducated people, because they are spotted on campuses everywhere, around the nation.
If credit card companies did not target young people, then there would not be credit card free give-a-ways on campuses. An 18-year old doesn't have a lick of sense when it comes to credit, unless they have taken a personal finance class or their parents educated them about it. Still, the "it can't happen to me" via credit cards is the prevalent thought going through a young person's mind, especially in this day of instant gratification. Uneducated people probably won't take the time to read the fine print and understand the legal terms of the credit card agreement. They'll just sign on the dotted line. I learned my lesson from my first credit card, but a lot of people don't. I know highly-educated people, as well, who come out of college with debt so high, they can barely afford it. And, this is not just student loan debt, but also credit card debt. People in college live off their credit card, sometimes.
Posted by: PointlessElbert47
It is unecessary for them to target young & uneducated people.
these people don't need to be targeted as obviously, their parents would not allow them to own a credit card. Uneducated people would not have enough money to use and therefore credit card companies do not have much to earn from them.
Posted by: AnonymousWhy would they do that?
Credit card companies target everyone the same.
Posted by: Anonymous