I was pretty much incensed by a comment that told me that since I was taking graduate school for business then at least I should know about credit card's other promotions which I find an insulting remark. Okay enough of the comment but I really thought of it that credit cards should be discussed in class because for one thing, it's already becoming a trend that has lead to foolishness especially by a younger generation. So what I thought was that looking back at case studies in business education, there hasn't been any credit card related case study and how they work. I guess back then, the schools were pretty outdated and people hardly used them but now they ought to be discussed. For one, I just thought of it that losing a lot of money in a faulty transaction believing the person will pay me back was a bad thing, not knowing much about credit card promotions is another. So I pretty much had to think that though I was giving such scathing remark the other day which resulted in a very bad quarrel and me refusing to accept my shortcoming (again, I have my instability issues) but it did save me from ignorance.
What I thought is that finance classes should teach their students about credit cards which is now a trend in purchasing since you get to score rewards in the banks. For one thing, not every business student is aware of the reality of credit cards, ups and downs so it's very important to EDUCATE them about it and include problem solving about them as well as what to accept and not to accept so at least when they commit mistakes, they'll realize that they haven't been listening to the classes. While the average card user may know how it works but what goes behind the scenes like why some companies refuse to accept credit cards should be known in business classes- that is the reason that the company must pay commission and a minimum is being set in place to avoid that much losses. What I thought is that finance-related classes should consider new topics like credit cards and stocks because these people are raw in that area. Ignorance isn't bliss, these young people must must be taught the know-hows of credit card handling (not really make a subject devoted to it though) in order to make sure they are credible to their degrees.
My suggestion is that these subjects on credit cards should be tackled little by little during the marketing courses while accounting and finance courses should consider adding credit card problems like listing "credit card company commission" as part of the accounting and finance problem. That way, these young people will be familiar with how the system works. Sheesh I really thought it's highly pathetic at how school systems these days can teach business principles yet they don't get so updated on technological/IT stuff related to businesses. Looking at it, one can decide whether to take a credit card or not when they are exposed to such problems. Also being told how these things work can get people to be less ignorant and more knowledgeable of the whats and whys of credit cards because people need to know more about them.
Sadly, education systems have become more theoretical than practical these days and not so updated with current financial trends.
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