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Article: College students and credit cards can be a ... Dangerous Combination Credit card marketers chasing college students
- Article from:
- Dayton Daily News
- Article date:
- August 28, 2005
- Author:
CopyrightCopyright 2005 Dayton Daily News. Provided by ProQuest LLC. (Hide copyright information)
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As a freshman at the University of Dayton, Sean Murphy succumbed
to marketing pitches and acquired four credit cards that he regarded
as "free money."
He wound up with a debt of at least $1,000 and a scolding from his
father, who came to his financial rescue but urged him to become
fiscally responsible.
Murphy, 19, now a sophomore, has cut back to two credit cards and
took a job to earn money to pay down his debt. He said he has reduced
it to about $500.
"I was stupid. I had a dad who bailed me out," Murphy said. "The
first year is a big learning experience."
Marketers eagerly extend credit cards to college students on the
nation's campuses, sweetening the offers with free T-shirts, ...