Credit
      cards/students
      don’t
      mix
     
    
   
   
    
     
       
     
    
   
   
    
     
      by
      Daniel
      LaRonde
     
     
      oes
      this
      sound
      familiar?
      You
      are
      a
      stu-
     
     
      D
      dent
      at
      a
      college
      or
      university
      and
      you
     
     
      have
      credit
      cards.
      You
      got
      them
      with
      an
     
     
      application
      available
      just
      about
      anywhere
      and
     
     
      let
      me
      say
      this:
      They
      are
      easy
      to
      get,
      too
      easy.
     
     
      It
      is
      even
      worse
      when
      you
      don’t
      have
      a
      part
     
     
      time
      job
      to
      pay
      back
      what
      you
      use
      on
      your
      credit
     
     
      card.
      Even
      if
      you
      did
      have
      a
      part
      time
      job,
      your
     
     
      income
      is
      probably
      around
      $300
      a
      month,
      which
     
     
      the
      average
      student
      would
      squander
      foolishly
     
     
      on
      heat
      and
      food,
      and
      eventually
      you
      fall
      be-
     
     
      hind.
      This
      is
      a
      common
      situation
      with
      students
     
     
      anywhere.
      :
      i
     
     
      I
      know
      from
      a
      first-hand
      experience
      how
     
     
      easy
      it
      is
      to
      use
      credit
      cards
      if
      you
      are
      short
      on
     
     
      cash,
      or
      just
      need
      a
      new
      pair
      of
      jeans.
      The
     
     
      money
      is
      there
      to
      use
      and
      pay
      back
      later,
      but
     
     
      sometimes
      you
      can’t
      pay
      back
      the
      monthly
     
     
      payment
      and
      you
      hear
      from
      the
      collector’s
     
     
      office
      after
      two
      months.
     
     
      With
      the
      pressures
      of
      Under
      and
      Post
      gradu-
     
     
      ate
      studies,
      the
      last
      thing
      a
      student
      needs
      is
      for
     
    
   
   
    
     
      some
      money
      collector
      to
      bark
      in
      you
      ear
      about
      _
     
    
   
   
    
     
      when
      you
      plan
      to
      pay
      them,
      or
      if
      you
      can’t,
      they
     
     
      even
      ask
      if
      you
      can
      get
      (borrow??)
      money
      from
     
    
   
   
    
     
      your
      parents.
     
    

    
     
      I
      admire
      the
      person
      who
      can
      control
      them-
     
     
      selves
      as
      far
      as
      credit
      cards
      are
      concerned,
      and
     
     
      even
      moreso
      if
      they
      are
      financially
      stableenough
      ~
     
     
      to
      have
      and
      use
      them
      properly.
      But
      most
      stu-
     
     
      dents
      are
      not
      financially
      stable
      and
      I
      believe
     
     
      credit
      cards
      should
      not
      be
      so
      easy
      to
      obtain
      so
     
     
      that
      poorer
      students
      won’t
      completely
      screw
      up
     
     
      their
      credit
      rating.
     
    

    
     
      I
      had
      asked
      a
      Visa
      rep
      if
      there
      are
      many
     
     
      students
      in
      a
      poor
      position
      such
      as
      I,
      and
      she
     
     
      replied
      that
      there
      are
      a
      lot
      of
      students
      who
      are
      in
     
     
      dire
      straits
      with
      credit,
      which
      makes
      one
      won-
     
     
      der
      why
      credit
      cards
      are
      given
      to
      students.
      This
     
     
      is
      my
      opinion...
     
    

    
     
      1)
      Interest
      rates
      are
      high
      (anywhere
      from
      13
      to
     
     
      25%
      approx)
      and
      even
      if
      a
      student
      doesn’t
      pay
     
     
      right
      away,
      the
      company
      still
      makes
      that
      inter-
     
     
      est
      anyway.
      (No
      loss
      for
      them,
      really)
     
    

    
     
      2)
      Even
      if
      the
      company
      can’t
      collect
      from
      you,
     
     
      they
      (sell??)
      the
      account
      for
      the
      account’s
      worth
     
     
      to
      a
      financial
      collection
      company,
      and
      the
      fi-
     
     
      nancial
      company
      adds
      on
      their
      own
      interest.
     
     
      3)
      If
      students
      are
      successful
      with
      credit,
      the
     
     
      students’
      rating
      will
      be
      raised
      and
      heralded
      as
      a
     
     
      customer.
     
    
   
   
    
     
      Actually,
      no
      matter
      which
      way
      I
      look
      at
      this,
     
     
      credit
      companies
      don’t
      lose
      money
      or
      profit,
     
     
      and
      I
      think
      credit
      cards
      should
      be
      much
      harder
     
     
      to
      get,
      and
      if
      you
      are
      having
      trouble
      with
      credit
     
     
      cards
      cut
      them
      and
      send
      them
      back.
      Always
      call
     
     
      them
      if
      you
      can’t
      make
      a
      payment,
      that
      way
      they
     
     
      know
      your
      intention
      is
      to
      pay
      them
      back.
     
    

    
     
      MasterCard
      phoned
      me
      and
      the
      person
      who
     
     
      handled
      my
      account
      was
      rude,
      pushy,
      and
      very
     
     
      personal
      about
      such
      a
      situation.
      I
      am
      behind
      in
     
     
      that
      account
      but
      ultimatums
      were
      thrown
      at
      me.
     
     
      They
      threatened
      my
      wages,
      job
      future
      and
      all
     
     
      future
      credit
      rating
      in
      an
      attempt
      to
      scare
      me
     
     
      into
      paying,
      but
      you
      can’t
      squeeze
      blood
      from
      a
     
     
      stone,
      and
      you
      can’t
      pay
      them
      if
      you
      don’t
      have
     
     
      the
      money.
     
    

    
     
      If
      I
      were
      asked
      to
      recommend
      any
      of
      the
     
     
      credit
      cards
      to
      anyone,
      I
      would
      say
      save
      your-
     
     
      self
      the
      trouble
      and
      don’t
      bother.
      Actually,
      Visa
     
     
      has
      been
      very
      understanding
      to
      my
      situation
      and
     
     
      have
      always
      been
      open
      for
      alternative
      payment
     
     
      arrangements.
     
    

    
     
      I
      expect
      to
      hear
      from
      those
      credit
      companies
     
     
      on
      this
      article
      (if
      they
      read
      it)
      and
      I
      will
      follow
     
     
      this
      story
      up
      at
      a
      later
      date.
      @
     
    
   
   
    
     
       
     
    
   
   
    
     
        
     
     
       
     
     
        
     
    
   
   
    
     
      Lloyd
      Mc
     
     
      ASSEMBLYMAN
     
    
   
   
    
     
       
     
     
         
     
    
   
   
    
     
      the
     
    
   
   
    
     
      Kenna
     
    
   
   
    
     
      Pat
      Mella
     
    
   
   
    
     
      Leader
      of
     
    
   
   
    
     
        
     
    
   
   
    
     
      ADVANCE
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      March
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      22nd
     
     
      Birchwood
      High
      School
     
     
      9:00
      a.m.
      to
      7:00
      p.m.
     
    
   
   
    
     
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      or
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      INFORMATION
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      Ripley,
      Charlottetown
     
     
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      Agent
      of
      the
      Progressive
      Conservative
      Party
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      P.E.I.
     
    
   
   
    
     
         
     
    
   
   
    
     
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