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4-r-N ews tEfyt Bail? Collegian Monday, Nov. 1,1993 nts find credit cards necessary to have (CPSJiColJesestudente across the nation are aimed with credit cardi. Although' the temptation to spend may lead to fi n ancial disaster for some students, a ma¬ jority of students control the urge to just charge it, officials say. A survey of college students' spending habits revealed that about 90 percent of the students polled said that it was important for thenj to have a credit card history in their own name, said Stuart Himmelfarb of Roper CoJJegeTrack in new York. "That means recognizing (he importance of not messing it up," Himmelfarb said. According to Bob Moss, a spokesman for American Ex¬ press, most of the college stu¬ dents who use American Express card understand the severity of ruining their credit by charging morethan they can afford. Card members are required to pay the American Express card's balance in full each month," Moss said. According to Moss, some stu¬ dents prefer to use a credit card that must be paid off each month because they have, "built-in financial disci¬ pline." Moss said that college students who use the American Express card have about the same or a lower de¬ fault rate than the general public, fie said it is American Express' policy to withhold information about the demographics of their card holders. According to Roper's survey of 4,000 full-time students on 100 col¬ lege campuses, students are not going on massive shopping sprees with their credit cards. Himmelfarb said most of the college students surveyed are using the credit cards for their convenience and managing their debt by not charging more than they can afford. Moss said that most college stu¬ dents who use American Express charge between $100 and $200 .per month.. - The credit card companies are targeting students on college cam¬ puses and are tailinginto a market that they hope will pay off in the future by building a strong relation¬ ship while the students are in school, said Mark Hamil, a support special¬ ist for NationsBank's credit depart¬ ment in New York. Roper's survey said that 56 per¬ cent of undergraduate students have a credit card. "We're hoping that if they estab¬ lish credit with us and we treat them right, that down the road when it comes time to buy a carthat they'll come 16 us," Hamii said. Despite their lack of credit his¬ tory, many college students are deemed worthy of credit without a co-signer. ' American Express. NationsBank and Discover take outstanding stu¬ dent loans, employment and credit history into consideration when re¬ viewing a credit application. American Express cardholders pay a $55 annual membership fee. Discover and NationsBank cardmembers have no annual fee, and tliese credit cards have no spe¬ cial incentives for college students.. According to Cathy Lambrechts, a spokeswoman for Discover, there are no guidelines for collegestu- dent credit limits; the limit is based on the applicant's qualifications. The interest rate is the same for all cardholders at 18.9%.' Credit card companies are seek¬ ing college students because they usually do not have already have credit cards and because they are active consumers. According to Roper's research, 55 percent of college students in the nationwide survey worked ei¬ ther full-time or part-time in the summer, ' Studentscanhavealargeamount of discretionary income, making them attractive candidates for credit cards, Himmelfarb said. According to spkespersons at NationsBank _ and American Ex¬ press, collegestudentB who use their credit cards actually have a lower failure fate than the general public. They pretty much watch 'what- they are doing,* NationsBank spokesman said. College students may se their undergraduate years as the perfect time to establish credit , because it is available to them everywhere. NationsBank, American Ex¬ press and Discover all use on- campus marketing to target Stu¬ dents. The credit card compa¬ nies have applications for col¬ lege students, which ask for a copy of a student identification card or tuition bill in addition lo other financial infonnation. Students can also be tempted by gifts for filling out credit card applications; Himmelfarb said these students are adults who see credit cards as a form of financial security because the card is available for emergen¬ cies. .. ' ' '- They realljuare running a household and a credit card is a valuable tool/'ffimmelfarb said. ♦ Kennel Bookstore ♦ tKIje ©atlp Collegian Mon - Thurs 7:45am - 7:15pm Jriday 7:45am - 5:00pm aturday 10:00am - 3:0(>pm On the Lower Level 278-4286 r hJk_k\^MZ 15% STUDENT "■"," DISCOUNTWITH * J STUDENT I.D 4313 M. WttUtont. Frwo (North ol AaNan) '1.00 Draft Bear 2.00 'Mondo" Draft 2.00 Watt Drinks 2.00 Margarita mookT mam FOOTBALL Omm: Mon.-Thun. 9-10. Fri. 0-1= Sol A-J 2. Sun. a-10 ■» ^ » .^•Va^-vw^ : *—. 1 Three reasons to oppose Proposition 174 Flaws and Loopholes • Prop. 174 is filled with flaws and loopholes. Section 17(b) (3) allows virtually anyone who can recruit 25 children to open^a*""* voucher 'school1 ind receive tax funding. This includes cults, I ■ extremists and shady operators. Anyone. • Teachers in voucher schools are not required to have a college degree, teaching credentials or any experience. Children Lose • -Prop. 1:74 will resulfin 10 percent budget cuts from neighborhood schools — even if not one current student transfers to a voucher school —«- meaning fewer teachers, teacher aides and security - officers and more crowded classrooms. • Prop. 174 hurts the very children who need help the most. It uses tax dollars to build a two-tier system — one for the haves and one for the have nots. - * Taxpayers Lose • Prop. 174 will siphon up to $2.6 billion — a 10 percent cut — directly from the current public schools regardless of whether a single child transfers to a private voucher school. • The new billion-dollar entitlement program created by Proposition 174 and its million-dollar bureaucracy will create pressure for a major tax increase. The Legislature will eittitf have to raise new taxes or cut other state services just to keep neighborhood' schools operating at current levels. Vote no ok prop. 174 The California Faculty Association urges you to vote "no" on Proposition 174 CFA believes that, if Prop. 174 passes, the CSU budget will be tapped to make up for losses public Kt 2 schools and community colleges will suffer. Reduced CSU class offerings, higher student fees, and faculty layoffs wiH be the legacy of 174. liiorniaPacuity -Association AAUP • CT.VNEA • CSEA/SEIU/AFL-CIO CFm
Object Description
Title | 1993_11 The Daily Collegian November 1993 |
Alternative Title | Daily Collegian (California State University, Fresno) |
Publisher | Associated Students of Fresno State, Fresno, Calif. |
Publication Date | 1993 |
Description | Daily (except weedends) during the school year. Microfilm. Palo Alto, Calif.: BMI Library Microfilms, 1986- microfilm reels; 35 mm. Vol.1, no.1 (Feb 8, 1922)- |
Subject | California State University, Fresno -- Periodicals. |
Contributors | Associated Students of Fresno State. |
Coverage | Vol.1 no.1 (Feb 8, 1922)- to present |
Format | Microfilm reels, 35 mm. |
Technical Information | Scanned at 600 dpi; TIFF; Microfilm ScanPro 2000 "E-image data" |
Language | eng |
Description
Title | November 1, 1993, Page 4 |
Alternative Title | Daily Collegian (California State University, Fresno) |
Publisher | Associated Students of Fresno State, Fresno, Calif. |
Publication Date | 1993 |
Description | Daily (except weedends) during the school year. Microfilm. Palo Alto, Calif.: BMI Library Microfilms, 1986- microfilm reels; 35 mm. Vol.1, no.1 (Feb 8, 1922)- |
Subject | California State University, Fresno -- Periodicals. |
Contributors | Associated Students of Fresno State. |
Coverage | Vol.1 no.1 (Feb 8, 1922)- to present |
Format | Microfilm reels, 35 mm. |
Technical Information | Scanned at 600 dpi; TIFF; Microfilm ScanPro 2000 "E-image data" |
Language | eng |
Full-Text-Search | 4-r-N ews tEfyt Bail? Collegian Monday, Nov. 1,1993 nts find credit cards necessary to have (CPSJiColJesestudente across the nation are aimed with credit cardi. Although' the temptation to spend may lead to fi n ancial disaster for some students, a ma¬ jority of students control the urge to just charge it, officials say. A survey of college students' spending habits revealed that about 90 percent of the students polled said that it was important for thenj to have a credit card history in their own name, said Stuart Himmelfarb of Roper CoJJegeTrack in new York. "That means recognizing (he importance of not messing it up," Himmelfarb said. According to Bob Moss, a spokesman for American Ex¬ press, most of the college stu¬ dents who use American Express card understand the severity of ruining their credit by charging morethan they can afford. Card members are required to pay the American Express card's balance in full each month," Moss said. According to Moss, some stu¬ dents prefer to use a credit card that must be paid off each month because they have, "built-in financial disci¬ pline." Moss said that college students who use the American Express card have about the same or a lower de¬ fault rate than the general public, fie said it is American Express' policy to withhold information about the demographics of their card holders. According to Roper's survey of 4,000 full-time students on 100 col¬ lege campuses, students are not going on massive shopping sprees with their credit cards. Himmelfarb said most of the college students surveyed are using the credit cards for their convenience and managing their debt by not charging more than they can afford. Moss said that most college stu¬ dents who use American Express charge between $100 and $200 .per month.. - The credit card companies are targeting students on college cam¬ puses and are tailinginto a market that they hope will pay off in the future by building a strong relation¬ ship while the students are in school, said Mark Hamil, a support special¬ ist for NationsBank's credit depart¬ ment in New York. Roper's survey said that 56 per¬ cent of undergraduate students have a credit card. "We're hoping that if they estab¬ lish credit with us and we treat them right, that down the road when it comes time to buy a carthat they'll come 16 us," Hamii said. Despite their lack of credit his¬ tory, many college students are deemed worthy of credit without a co-signer. ' American Express. NationsBank and Discover take outstanding stu¬ dent loans, employment and credit history into consideration when re¬ viewing a credit application. American Express cardholders pay a $55 annual membership fee. Discover and NationsBank cardmembers have no annual fee, and tliese credit cards have no spe¬ cial incentives for college students.. According to Cathy Lambrechts, a spokeswoman for Discover, there are no guidelines for collegestu- dent credit limits; the limit is based on the applicant's qualifications. The interest rate is the same for all cardholders at 18.9%.' Credit card companies are seek¬ ing college students because they usually do not have already have credit cards and because they are active consumers. According to Roper's research, 55 percent of college students in the nationwide survey worked ei¬ ther full-time or part-time in the summer, ' Studentscanhavealargeamount of discretionary income, making them attractive candidates for credit cards, Himmelfarb said. According to spkespersons at NationsBank _ and American Ex¬ press, collegestudentB who use their credit cards actually have a lower failure fate than the general public. They pretty much watch 'what- they are doing,* NationsBank spokesman said. College students may se their undergraduate years as the perfect time to establish credit , because it is available to them everywhere. NationsBank, American Ex¬ press and Discover all use on- campus marketing to target Stu¬ dents. The credit card compa¬ nies have applications for col¬ lege students, which ask for a copy of a student identification card or tuition bill in addition lo other financial infonnation. Students can also be tempted by gifts for filling out credit card applications; Himmelfarb said these students are adults who see credit cards as a form of financial security because the card is available for emergen¬ cies. .. ' ' '- They realljuare running a household and a credit card is a valuable tool/'ffimmelfarb said. ♦ Kennel Bookstore ♦ tKIje ©atlp Collegian Mon - Thurs 7:45am - 7:15pm Jriday 7:45am - 5:00pm aturday 10:00am - 3:0(>pm On the Lower Level 278-4286 r hJk_k\^MZ 15% STUDENT "■"," DISCOUNTWITH * J STUDENT I.D 4313 M. WttUtont. Frwo (North ol AaNan) '1.00 Draft Bear 2.00 'Mondo" Draft 2.00 Watt Drinks 2.00 Margarita mookT mam FOOTBALL Omm: Mon.-Thun. 9-10. Fri. 0-1= Sol A-J 2. Sun. a-10 ■» ^ » .^•Va^-vw^ : *—. 1 Three reasons to oppose Proposition 174 Flaws and Loopholes • Prop. 174 is filled with flaws and loopholes. Section 17(b) (3) allows virtually anyone who can recruit 25 children to open^a*""* voucher 'school1 ind receive tax funding. This includes cults, I ■ extremists and shady operators. Anyone. • Teachers in voucher schools are not required to have a college degree, teaching credentials or any experience. Children Lose • -Prop. 1:74 will resulfin 10 percent budget cuts from neighborhood schools — even if not one current student transfers to a voucher school —«- meaning fewer teachers, teacher aides and security - officers and more crowded classrooms. • Prop. 174 hurts the very children who need help the most. It uses tax dollars to build a two-tier system — one for the haves and one for the have nots. - * Taxpayers Lose • Prop. 174 will siphon up to $2.6 billion — a 10 percent cut — directly from the current public schools regardless of whether a single child transfers to a private voucher school. • The new billion-dollar entitlement program created by Proposition 174 and its million-dollar bureaucracy will create pressure for a major tax increase. The Legislature will eittitf have to raise new taxes or cut other state services just to keep neighborhood' schools operating at current levels. Vote no ok prop. 174 The California Faculty Association urges you to vote "no" on Proposition 174 CFA believes that, if Prop. 174 passes, the CSU budget will be tapped to make up for losses public Kt 2 schools and community colleges will suffer. Reduced CSU class offerings, higher student fees, and faculty layoffs wiH be the legacy of 174. liiorniaPacuity -Association AAUP • CT.VNEA • CSEA/SEIU/AFL-CIO CFm |