I can remember Bank of America having a table setup on campus when I went for college registration. They made it sound oh so glorious to have a credit card.
Last week I visited a K-Mart. First time in over three years. I was walking around and looking at piles of cheap junk. There was a table set up with a stack of Sears credit card applications (Did Sears buy out K-Mart?). Anyway, these applications had big bold print saying the agreed rate of interest was 20%. I could not help myself. I started laughing out loud. 20% freaking percent. How dumb do these corporate types believe we are, anyway?