Essay on Creating Credit Profiles Without Proper Education

810 Words Dec 29th, 2015 4 Pages
Have you ever gone to the grocery store swiped your credit card and the cashier said, “Your credit card has been denied?” Have you ever found yourself in a financial situation? Who would you run to for help? Could there have been an easier way out of debt? Experts claim that is good for young adults to gain experience using credit cards when they turn 18, because in some cases it can be beneficial because older credit lines w/ good payment history increase credit score over time. So by the time a student completes college their scores are high enough to get approved for auto and home loans. However, the chances of this actually happening are few between. I would argue that creating credit profiles without proper education can have a catastrophic effect on one 's financial future reasons being: students that are just leaving the nest are not ready to take on the financial freedom that comes with credit accounts, they are not experienced enough to avoid dangerous vices, and to some immediate needs are greater than their credit card bills.
Primarily, students that are just leaving the nest are not ready to experience the type of financial freedom that comes with having a credit card. However, due to the fact that greedy corporations, brand name clothing labels, and food companies launch ad campaigns targeting their young impressionable minds. Not to mention, the peer pressure that comes from close friends who may not have the ability to a open a credit line of their…

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