I'm an 18 year old student, I have no job therefore no income.
Since turning 18 I have received many offers of credit cards and loans through junk mail adressed to me.
I decided I would fill in one of these credit card forms one day and have since filled in each form I got offereing me a credit card. - I was completely honest on my application form declaring 0 income.
I now have 5 cards with a combined credit limit of £12,000.
How can I possibly be expected to pay this off with no income. Is credit too easy to obtain which could lead to people getting into huge debts which they are unable to repay.
For the record I only use one card and always pay off the balance.