When most of us hear the word credit card it sounds tempting to get. I remember when I was a freshman and first turned 18, I got so many credit card companies sending me pre-approved cards. I felt excited at that moment until I realized how horrible they can be for you, especially being a college student.
After analyzing this news article, it turned out to be a surprise, most millennials don’t have a credit card. And while that might sound smart, Consumer Reports says “Going without a credit card is a big mistake”. I know many friends whom exceeded their credit limit and they are in BIG time debt.
According to Consumer Reports, “Your credit score figures into all kinds of financial transactions –getting a mortgage, auto insurance, a car loan. And you can’t have the best credit score unless you responsibly use a credit card,”. This article talks about how to use your credit card wisely and pay back what you spend to avoid debt.
Throughout the article, I kept thinking how PR is used here. The fact that we always thought taking loans and using credit is something we should avoid, instead Consumer Reports is trying to make credit card companies look good. The way the article is written is making it acceptable and showcasing possible credit cards to apply for.
It’s a way of PR for different companies and making them look good. The way they are advertising to apply for a credit card is by stating how they are beneficial versus a debit card. One of the benefits are, “They have important fraud protections that debit cards and other forms of payment may not.”
Looking at this from a PR standpoint, they are trying to sway the audience to look at the credit companies and take in consideration into opening one up. Presenting this to a college student will make them want to apply, which in my opinion will only lead to a disaster if you don’t manage your spending properly.
By Hira Uddin, Associate Director of Human Resources and Internal Relations