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The credit card industry is out of control! Do they need a government agency to supervise their activities? You better believe it! Congress should enact some form of protection for credit card clients guaranteeing them a degree of protection from the ills of this industry.
What ills?
1. Sending approved credit cards with limits of $5,000 to children under the age of 12. This has happened so many times the media doesn't even cover it on the back pages anymore.
2. Sending approved credit cards to inmates in prisons with limits of several thousand - and would you believe it - paying for their purchases! Several people have reported intercepting valid credit cards being sent to well known prison addresses, time and again!

3. Sending approved credit cards to people confined in mental institutions for years and paying for their purchases!
4. Sending unsolicited credit card offers to millions of people with no more information known about them than the name and address. Whatever happened to establishing a credit file, offering credit cards to people who qualify because of their income, debt picture and past payment habits.
5. Whatever happened to banks sending credit cards to people who bank with them and maintain good balances and check writing practices?
It is plain from the above points that the credit card industry has a lot of competition from its members. Every warm body has to be considered for some form of credit card or they will be given a card by some other issuer. Some credit card issuers are in a strata of clients that they know from the outset, will not pay or maintain good credit card practices. However, the cometition for new customers is so stiff, they are willing to absorb the losses of these clients to get the profit off of the remaining clients.
What is even more scandalous are the practices of the Washington DC lobbyists who represent the credit card issuers. They found a pro business President Bush willing to listen to them and their pleas for some relief from folks taking bankruptcy with all of their precious credit cards. And Bush approved new bankruptcy laws that stick it to those who were rash in dealing with their credit cards and charging too much.
You cannot take bankruptcy in some cases until you have made extraordinary efforts to satisfy the needs of the credit card companies.
It seems to me that the above listed points about the pointless and insane distribution of thousands of dollars of credit cards to folks who

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