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Good advice here. When I changed over to a "student bank account" a couple of years ago I was astonished by the number of credit card offers the bank made. All of them went straight to the shredder, but I do know people who accepted them and now have a hefty credit card balance to add to their student loan, all of which they'll have to pay off. I just feel that banks are being thoroughly irresponsible in giving cards to people who cannot afford them. As a standard part of the account I got a debit card, which has no interest fees and is accepted everywhere I shop. All the security benefits of not carrying large amounts of cash around but with none of the potential dangers of a credit card - why would anyone in my position need more? <br /> <br />I do wonder if the lenders are in for a hefty shock in about 40-50 years time. Apparently people are taking out loans that they have no chance of paying off (but they can meet the minimum monthly payment), so what happens when they die? I suspect a lot of credit providers will probably go under as they suddenly have to write off considerable debts.
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