ADVERTISEMENT

Notre Dame students' opinions vary on new credit card law

The question: Does it promote responsibility or just treat college students like kids?

By Kerri Fivecoat-Campbell

School info

School: Notre Dame (ND)
State: Indiana
City: South Bend
Colors:
Enrollment: About 12,000
Website: http://www.nd.edu

What other students are saying

Back to map

The University of Notre Dame du Lac is a private Catholic university which was established in 1842 and remained an all-male school until 1972. Its library system is one of the 100 largest in the United States.

If students at Notre Dame are interested in applying for a credit card, they have to do it on their own and not through a credit card vendor on campus. Credit card companies are not allowed to recruit new customers at Notre Dame, university spokesman Dennis Brown said.

Brown said credit card vendors are subject to the university's general policy concerning noncampus organizations, which prohibits noncampus organizations from soliciting customers on campus.

At football games, though, there are a couple of credit card booths that are not targeted toward students, Brown says.

The booths sell affinity cards, which are credit cards that are co-sponsored by a bank and an organization -- in this case, Notre Dame. The Notre Dame affinity cards, Brown said, are meant to be purchased by alumni, and the university receives a portion of the revenue from the card sales.

"Those are primarily directed toward alumni," Brown said. "Students could apply if they wanted to, but that is not the purpose or intent."

The university also has its own credit union, the Notre Dame Federal Credit Union, located in the lower level of the LaFortune Student Center.

Here's what some students at Notre Dame have to say about the new credit card law and managing credit cards:

"As soon as they turn 21, what's going to change? Are they instantly going to know how to spend money? There are a lot of people out there that are under 21 that are a lot smarter and know what to do with their money a lot better than even people in their late 30s."
-- Amanda Ionovsky, 19


The University of Notre Dame's administrative offices are in the Main Building, which is famous for its gold dome.
Photo: Josh Barone


A mural known as "Touchdown Jesus" on the Hesburgh Library

"Just knowing how many problems have been caused by people spending money irresponsibly, I'm more willing to accept more regulation from the government about things like that."
-- Ben Pfeifer, 18

Big changes on campus: College students meet credit card reform

See related: Sample credit card contract for parents and their young adult children, Law alters cozy relationship between colleges, credit card issuers, Study: Undergraduates relying heavily on credit cards, A comprehensive guide to the Credit CARD Act of 2009, Obama signs new credit card reforms into law, Interactive timeline: How the credit card bill became law, when its provisions take effect, Will the new credit card law hurt more consumers than it helps?, Annual fees return in credit card mail offers, How to cope until the new credit card rules take effect, What the new credit card rules mean for you, New credit card rules don't cover business, corporate credit cards, Federal banking regulators finalize sweeping rule changes for credit cards

Published: September 30, 2009


Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Follow Us


Updated: 09-28-2016


Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


ADVERTISEMENT