Even though credit card companies have been facing the stick for targeting college students still students get preference from banks and companies. Students don’t realize about the trap they are falling into. Credit card companies tend to offer instant loans to students even if they don’t have a job or any other means to pay off the debt. This could be because they seem to be an easy prey. Despite knowing about the consequences students tend to get attracted by these cards. This probably could be due to peer pressure.



Financial counseling is offered to students in order to make them aware of the troubles they could land into if they misused the card. Still a number of students fall into the debt trap at a young age and face bankruptcy.



In order to avoid these situation students should act in a mature manner and think twice before opting for a credit card and using this. Even if they opt for it should be used judiciously taking into account their paying back capacity and one should not succumb to peer pressure.