Students wary of new law restricting their access to credit cards
Nationwide survey of campuses finds some welcome the oversight, some decry it
By Tyler Metzger | Published: September 30, 2009
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
- Sending kids off to college with a rewards credit card – Sending your kids off to college using a rewards credit card can help you earn rewards points while teaching your kid how to be financially responsible ...
- Student card survey 2017: Offers, terms become more generic – Student cards morphing into more general-purpose cards ...
- Student credit cards: The definitive guide – Five lessons for students ready to apply for their first credit card ...