No Free Lunch For Credit Card Companies

For some students, the juggling of credit card charges can become too much, and in a few isolated cases it has led to tragic results.

The documentary "Maxed Out" profiled two mothers whose college-age students committed suicide after they became saddled with credit card debt.

"He said he didn't know how he got into credit card debt," said one distraught mother in the film. "A week later, he hung himself."

Industry's Responses

The credit card industry said it's up to individuals to be responsible with their credit and added that it's reasonable to issue low-limit cards to college students who will graduate soon and begin earning an income.

"At 18, people are allowed to enter into contracts. They are allowed to get married. They are allowed to vote. They're allowed to sign up for the Army. They should be able to get a credit card and not have the government intervene," said Nessa Feddis at the American Bankers Association.

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