>But there's still the case that credit is granted too easily by the banks. For example I understand that at colleges and universities there is great competition by all the issuers to nab students, to the point that they really don't care if the student has applied for 6 others already... they'll take him too. And it's gotta be tough for many students to use them carefully.

I can't believe how many credit card offers my kids get (several every week). We have a simple household policy, though. All credit card offers get ripped up and thrown out. If we want a card, we go shopping for it.

Tamar