>>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.
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>When I was in college there were at least 4 tables set up right outside the campus bookstore with credit applications. They had fast talking salespeople and gift bags for signing up. Freshmen were lined up to get a card.
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>My first trip home I was at dinner with a family friend who ran a bank and I asked him why the credit companies were trying to get students, especially since most have very little money. He said that the big credit agencies can actually make more in the long term by having students default and/or declare bankrupcy. If they default their credit rating will tank and they'll be charged higher interest. In the case of bankrupcy, they will have huge interest rates in addition to not being able to file again for seven years.

Wow! I gues one can take the outlook that "business is business" and in fact say "good for the banks for figuring that out". But the morality of the whole thing ranks near child molestation, if you ask me.
We all know that 'business has no morals' but this is going overboard!

But I NEVER would have guessed, so thanks for the information.
cheers