Dumb a** kids....

[TwixVoy]

So two college kids came in to the store today to buy a 52" LCD TV.

Kid had several credit cards. First one was declined so I got called over to "help" with the transaction.

I didn't find the transaction suspicious... just stupid. He was telling me it was "impossible" his first card got declined. Pulled out a second one which was approved. Kid was talking about how he got approved for all these student credit cards and was braging to me about his "$7500 limit" and how this TV was a "gift" to his buddy with him. Like I was supposed to be impressed with him.

Must be nice to wreck your credit and throw your self in debt in your early 20's these days.

[HopeFor2006]

1. So typical though

What do you expect? He is just following in the footsteps of so many in the generation before him.

[cbayer]

2. They actively push cards on these kids.

Kids without income and with student debt. It's ridiculous, and it starts them down the road to neverending debt. It should be outlawed, IMO.

[blaze]

3. It *should* be outlawed!!

Kids get targeted in high school for Pete's sake!!

I had to save $500 in my bank account... and then take out a loan for $500 (with my savings as collateral) and pay it back in installments before I could get a credit card. It was a great lesson. And probably saved my financial ass.

[gratuitous]

4. And dumb ass credit card companies

I hate sounding like an old fogey, but I remember the hoops I had to jump through for my first credit card. Started quite small, built on that record, and learned how to handle credit responsibly. If I wanted to, I could have a credit limit larger than some small countries.

I'd bet the reason his first card was declined was that it hadn't been properly activated. The kid was smart, though; he bought the big screen TV as a gift for his buddy. When the collection agency comes around in about six months, they can't repossess something he didn't buy for himself.

[TwixVoy]

5. I agree

they are ASKING for defaults... though I suppose with the bail out they have plenty of money to burn again.

[TahitiNut]

6. In "my day," the first credit card we could get was an oil company credit card.

We'd need at least a part-time job to qualify. We'd THEN build up a credit history of at least 6 months with that card and THEN apply for a department store card. (In the Detroit area, J. L. Hudson's was the card of choice - Jacobson's for the up-scale set.) If we were lucky (and well-behaved) and employed, we'd use that card to build up more credit history and then, if employed full time and with a banking history, apply for the bank card. It'd take at least 18 months ... usually 2 years. After than, we'd "arrived" if we got American Express, Diner's Club, or Carte Blanche.

[MrsBrady]

7. get them used to student loans

get them easy credit cards

debt becomes no big deal

hike up the interest rates

kids now adults pay out the ass

sounds like a good business formula

[greyseal5]

8. Credit Cards should be outlawed

Speaking as a person who is up to my eyeballs in credit card debt.......yeah, I dug my own hole here but I'm a person who NEVER should have been approved for credit!

[cherokeeprogressive]

9. That's what a college edumacation gets you these days...

Enough smarts to fill out a credit application, but not enough common sense to know how bad it can hurt you if you're careless.