
I stumbled across
this Consumerist article listing some statistics on young adults and credit card debt, and it brought me back to those days in college where I'd sign up for a credit card just to get a free t-shirt (just like the one below) or chat with the cute frat guys.

...But thank God I never gave them my real information. I'm not sure where exactly these numbers came from, but they sure are pretty grim!
- 56% of all undergraduates report obtaining their first credit card when they were 18
- 83% of all undergraduates in 2001 had at least one credit card.
- The average student has four credit cards.
- College students' balances have gone up 134% in the last decade.
- Three out of five students with credit cards maxed them out during their freshman year.
- 71% of young adult cardholders do not pay their balance off in full each month.
- The average undergraduate credit card balance is $2,169.
- College seniors graduate with an average of $4,000 in credit card debt.
Three out of five students max their cards out during freshman year? Some of these kids don't even know how to make scrambled eggs, but they're given "free money" to piss away on booze and burritos.
I didn't get my first real credit card (not check card) until right after college, and I'm probably a credit card company's worst nightmare: a young adult who doesn't buy anything she couldn't buy with cash, and pays each balance
in full,
on time,
every month. Boy am I glad my parents installed the fear of debt in me at a young age.