Congratulations the Student Card is right for you!
Most people in their twenties and thirties can remember being approached in the "main hall" of any university by a credit card company offering money for nothing.
In the 1980's credit card companies started focusing on new markets. The main goal was to find clients who would "revolve" their balance so that each month the amount of interest charged would rack up. University students became the next big target since they don't have steady work and are the least likely to understand how debt will effect their future.
Upon graduating with bachelor degrees that don't get jobs better than a high school degree would twenty years ago, young adults find themselves unable to pay back their debts and begin thinking about bankruptcy.
So who's responsibility is it? The student because they should know better? Parents and schools who don't teach young adults about money? Or is it the company which makes billions off of each of us who carry debt?
If our society is so heavily based on commerce then why do only some people get the privilege of fully understanding how it works?
Excerpt: On a test of personal finance skills administered to high school seniors, students averaged a score of 57%, an F on any grading scale. Only 5% of the seniors scored a C or better. http://www.truthaboutcredit.org/roadmap.html#5
Excerpt: Before, you were only getting credit if you had proved yourself worthy by having a good credit history or by having job ... now the industry has allowed people to get credit without ever having a job. http://www.lipmagazine.org/articles/feattalvi_121.shtml
Excerpt: The plastic loan sharks beckoned with low monthly payments and generous credit lines. It was an offer few of us could refuse. http://www.villagevoice.com/news/0451,duffy,59417,6.html
It seems incredible that as a student, with no other income than a tiny grant, a few student loans and a small handout from my parents, I was offered credit at all, but on both occasions when the salesperson checked my credit record I was duly offered a few hundred pounds, virtually no questions asked. http://money.guardian.co.uk/creditanddebt/creditcards/story/
0,1456,1172582,00.html