Student credit cards and young credit

Arizona State students split on impact of new credit card law

School info

School: Arizona State University (ASU)
State: Arizona
City: Tempe
Enrollment: More than 67,000

What other students are saying

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Long before Arizona attained statehood, the school was founded as the Tempe Normal School in 1883. It has grown into a widely recognized, up-and-coming academic and research university.

There is limited credit card marketing at ASU, according to school spokeswoman Sharon Keeler. The ASU Student Government passed a resolution in 2003 requiring all credit card vendors to be sponsored by a student organization in order to have a booth on campus. The resolution also encouraged the Student Organization Resource Center not to approve credit card vendors. She added that the ASU Bookstore has not allowed credit card solicitation companies access through the bookstore for several years.

Keeler said the ASU Alumni Association hosted Bank of America on campus during Welcome Week, but their participation was limited to promoting the debit card.

Here’s what some students at ASU have to say about the new credit card law and managing credit cards:

“I think such a law is ridiculous because it is further limiting our rights that we deserve as adults. If we can get tried in court as an adult and go to war, we deserve the same rights as an elder would.”
–Todd VanDuzer, 19

The Charles Trumbull Hayden Library on the Tempe campus of ASU.
Photo: Nick Schweitzer

“This is putting another restriction on our lives, and it’s kind of a smack in the face. As an out-of-state student from Indiana, I’m trying to live my life doing as much as I can on my own. Having my parents co-sign would only be bringing them back into the picture.”
Mary Kate Siuba, 18

“I think that if credit cards were not available to students during their college years, it would be better in the long run because once they graduate from college, they would not have to worry about paying off their [credit card] debt.”
Gloria Reynaga, 21

“I use my credit card to buy my books and then pay off the debt when I have money. Without my credit card, I wouldn’t be able to get them on time for school.”
Rocio Iniquez, 20

“Students usually get credit cards because they don’t have the money now and think they will have it later, but sometimes things pop up, causing them to miss a payment and an increase in their debt.”
Joe Fraska, 20

More about credit cards and students

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. Interactive time line: How the credit card bill became law, when its provisions take effect

What’s up next?

In Student credit cards and young credit

A credit card contract for parents, adult children

This downloadable contract between parents and their young adult children about credit card use can be a starting point for talk about co-signing for a credit card.

Published: July 8, 2009

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