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Student credit cards and young credit

Students wary of new law restricting their access to credit cards

For years, credit card issuers have lavished attention on students. As potentially lucrative lifetime customers, they were courted — throughout the campus and especially near the football stadium — with T-shirts and pizzas and hats, for which many eagerly filled out credit card applications.

Those rules changed for good with the passage of credit card reform in May 2009. No longer the most coveted credit card consumers, students and all adults under 21 instead will see their access to credit restricted — no credit cards without proof of income or a co-signer — beginning in February 2010, when the new law kicks in. That makes the autumn of 2009 the last hurrah for card issuers under the old, unrestricted rules.

CreditCards.com gathered dispatches from campuses across the United States to gather how card marketing has changed on campus — and how the students are reacting. Use the map below to find out what students are saying.

Big changes on campus: Students meet credit card reform

See related:A comprehensive guide to the Credit CARD Act of 2009

What’s up next?

In Student credit cards and young credit

Arizona State students split on impact of new credit card law

When asked about the new credit card law and how they manage their own credit, some students at Arizona State University said they see credit cards as a step toward full adulthood. Others, however, are worried about responsibility and debt.

Published: September 30, 2009

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Credit Card Rate Report Updated: June 19th, 2019
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15.61%
Airline
17.54%
Cash Back
17.68%
Reward
17.57%
Student
17.79%

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