Perils of Credit Card Marketing on Graduation from college should be an exciting and renewing experience. It represents an accomplishment that should be celebrated and the beginning of new adventures and experiences. Yet, for many recent college graduates it represents something entirely different. For these individuals graduation from college represents having to begin their new careers drowning in debt with credit scores below 500. The cause of this unfortunate circumstance is often the improper use of credit cards given to these individuals on their very first day on campus straight out of high school (Lazarony, 1999).

The credit card market is very competitive. The college age consumer is an attractive one for credit card companies. They have a captured market with individuals possessing a minimum degree of financial sophistication. As a result, credit card companies are able to issue cards to young people who are not able or willing, to...
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