In industrialized nations, going into debt starts early. It's easy for an eighteen-year-old to get credit cards and fall into debt, especially if they're headed for college.

I remember my first year in college as a 17 year old. Credit card offers were plastered all over the university campus. I don't know what saved me from falling into the credit trap when I was in college but many of my friends were not so lucky.

Many of them started out by using credit cards for textbooks, then stereo equipment and clothes. Then the next thing they knew, they were drowning in credit card debt.

No one told them what they were getting themselves into. Often, credit cards that are geared toward college students come with very high interest rates. Credit card companies say that this is due to the fact that students often have limited credit histories and that they have a higher default rate than other groups.

However, what credit card companies don