Credit Card And Credit Cards

853 Words4 Pages
Being invited by the president of Joliet Junior College to help students who are being lured by credit predators on the myth that getting a credit card helps people to build their credits. We will use this opportunity to educate the audience on the concept of credit cards and its responsible use in order to avoid its snares. Furthermore, we plan on assisting the audience to gain insight on the rationale behind building good credit through borrowing. According to Tim Chen, the author of American Household Credit Card Debt, an article published in the year 2015, the average student loan debt is $31,946. He also states that there’s a total of $1.19 trillion in debt for student loans, which have increased 5.9% from last year. In this paper, we will discuss the myth of how students are being lured by credit card predators by assuming that getting a credit card helps people build their credits. We will also use this opportunity to define the concept of credit card and its responsible use in order to avoid its snares. Furthermore, alert the audience of other ways to build credit such as through borrowing and getting students loan in less interest rate from the bank. PLACE ANDREW’S PAPER HERE According to Campbell Harvey, an economist, known for his work on asset allocation with changing risk and risk premiums and emerging markets finance, credit generally refers to the ability of a person or organization to borrow money, as well as the arrangements that are made for repaying the
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