| Credit cards to MOST college kids are what subprime mortgages were to novice house flippers and high risk borrowers. And as is the case with the mortgage mess the coming credit card crunch is the fault of both borrowers and lenders. It was bad enough back in ancient times when I was in college and the credit card companies sent "free" credit cards to graduating seniors. Now they are targeting high school seniors. What next? 8th grade graduates. I am afraid nothing good can come from all of this. Better that college kids establish credit by buying a car and paying it off in installments.
A $2,000 line of credit mizzou-mom? I guess if you can afford it... |