A lot of young people found themselves in debt after they got a credit card and spent money that they didn't have (and racked up bills that they couldn't pay off.) Sounds pretty sad, and it probably isn't what credit companies intended to do (or is it?) when they pushed their credit cards into the hands of young folks who didn't know any better.
This was why the Credit Card Accountability, Responsibility, and Disclosure Act was introduced. Because of the act, companies can no longer set up tables near campuses offering gifts while requiring applicants under 21 to have a co-signer or prove that they have a sufficient income.
What the act doesn't discount is social media--and that's what credit card companies are zoning in on right now.