Is it a financial negligence of college students or of the colombian financial system to grant credit without training?

Abstract

Nowadays, the disproportionate growth of financial products focused on the university population is indisputable. As a result of the granting of credits without adequate financial awareness, it is possible that a report to the credit bureaus will be incurred in the medium term, compared to the ease with which the
portfolio of services offered by financial institutions can be accessed today. This overcrowding of plastics can become a real headache for new users of the system.

A large number of students who currently have a credit card lack prior training on how much they pay for concepts such as interest and additional fees that are generated for each transaction that is made. In addition, they miss dates like closing and cutting. This fact leads to the negative reports being made to
the credit bureaus, which affects their credit history and generates fines and penalties that these reports bring with them.

Taking the above into account, the object of study of this document is intended to provide advice to future users of this type of product.