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When I see banks trying to hawk credit cards to jobless college students, these banks are not taking responsibility for investigating creditworthiness.

You are right. Credit cards were once not so easily obtained. You had to have impeccable credit. As well, it was not customary to "carry debt" from month to month. Most people paid the bill off each month. In fact, many credit card companies (such as American Express) mandated it. People didn't see credit cards as a device to obtain good and services they didn't have the money for. They saw credit cards as a convenient way to pay for things so that they didn't have to carry lots of cash around with them all the time.

As recently as the 1970s, having a credit card was a badge of honor. Flashing a credit card announced to the world that you had arrived as a responsible and credit-worthy citizen. After all, credit cards weren't issued to just anybody.

Somewhere along the way, the credit card companies realized that they could make much, much more money by encouraging their customers to "carry over" balances so that interest could be charged. Even American Express now allows their customers to carry over balances. They lure you in with a "low, low rate" so that they can jack it up the first time you are late with a payment (or when they think you aren't noticing).

All of that is well and good. But it's time that the credit card companies were made to assume some responsibility for issuing "easy credit" to the financially clueless and irresponsible. Most of the people declaring bankruptcy should never have had a credit card in the first place. BTW, I'm not making excuses for those who don't pay their debts. I'm just saying that I don't want to see these credit card companies bailed out for making high-risk loans.

Until recently, I was essentially unemployed for almost two years. I had reserved enough money to make it through the dry spell. I have begun working again at a good salary. The monthly average of creditors offering credit never varied. I must get, at least, a half dozen offers a week (I never applied to one offer). I have known a fellow up in WV for 15 years. He declares bankrupcy every seven years like clockwork. He doesn't seem to lose anything. Immediately after filing he is inundated with proffers for credit. It doesn't bode well for our future that banks are pulling this crap.

re: I'm just saying that I don't want to see these credit card companies bailed out for making high-risk loans. )))

Exactly. The credit card companies, who take no trouble to examine credit worthiness, should get no new breaks from the legislature in bankruptcy law. Many parents of college students would rather they not have credit cards, but because they are over 18 there is nothing the parents can do to prevent getting the cards--at least the companies can't go after the parents!