Opinion

You’re either a responsible adult or you aren’t

I don’t see what the problem is with the recent credit card controversy on campus. You don’t want credit card debt? Don’t get a credit card. What’s the damn problem? Having a credit card is a big responsibility. If you manage your money poorly, you have no one to blame but yourself. If you get a credit card and run up an exorbitant amount of debt then you need look no further than the mirror to find out who’s at fault.

This whole thing recalls for me a funny story from my time in the Marine Corps. There was always a guy who wrote a bunch of checks for which he had no funds to pay. When asked how he let that happen he’d say, “I’ve still got checks so I must have money.”

Recently, I’ve found myself confronted by the urge to ridicule the concept that a group of people who want to be considered adults are supposedly too inexperienced to withstand the ravages of the Evil Sales Pitch! Apparently, that pitch is so compelling that many students are just unable to resist and end up committing suicide rather than facing the reality of bad credit. Not to make light of the tragedy of suicide, but if it’s true that a student armed with a credit card will rapidly descend into a state of massive bonded indebtedness, then the student deserves bad credit.

My first duty station in the Marine Corps was a technical training school with a student body twice as large as UM’s. Outside the front gate we were confronted by all manner of car dealerships and electronic appliance stores and even evil credit card vendors. These businesses set up there because they knew that the military personnel stationed there were primarily just out of high school and didn’t know crap. They made great sales pitches and pushed all manner of items on us and made a lot of credit sales – at 20 percent plus interest. A lot of people bought stuff and ended up being broke for a very long time or defaulting on their credit arrangement. The way these vendors did business was very well known, and yet many people did business with them anyway.

This never happened to me. Why? Because when faced with those sales pitches, I said, “No thanks, don’t want the debt.” And then I walked away.

Scott Wacholtz can be contacted at s.wacholtz@umiami.edu.

April 9, 2004

Reporters

The Miami Hurricane

Student newspaper at the University of Miami


Around the Web
  • Miami Herald
  • UM News
  • HurricaneSports

It was a good day for the Miami Hurricanes basketball team. They moved up to No. 6 in the AP Top 25 ...

Erykah Davenport and Shaneese Bailey made key plays back-to-back late in the game and four players s ...

1. MARLINS: Jeter's Fish trade Gordon. Stanton next?: While others spend -- like the Angels to ...

A six-pack of Hurricanes notes on a Thursday: ▪ With the first ever early signing period just two we ...

University of Miami coach Mark Richt and Wisconsin coach Paul Chryst sat on a stage poolside at the ...

A scholarship created by retired Major League Baseball star Alex Rodriguez and born out of his love ...

New Multi-State Institute Focuses on Reducing Damage from Severe Storms ...

Daniela Deu was drawn to both architecture and urbanism, believes architecture can change communitie ...

Canes Basketball player development assistant will graduate with MSED in Sport Administation. ...

UOnline graduate will earn his M.S. in Health Informatics ...

Check out the latest edition of Hurricane Magazine. ...

Members from the Miami track and field team spent the afternoon at the Boys and Girls Club in Miami ...

University of Miami diver Briadam Herrera collected a 1-meter national title at the Greensboro Aquat ...

Two Hurricanes receive AVCA All-America recognition for first time since 2014. ...

Coming off its first top-25 victory of the year, the Miami women's basketball team will play it ...

TMH Twitter Feed
About TMH

The Miami Hurricane is the student newspaper of the University of Miami in Coral Gables, Fla. The newspaper is edited and produced by undergraduate students at UM and is published weekly in print on Tuesdays during the regular academic year.