CreditCards.com talked to students at the University of Texas at Austin to get their reaction to upcoming laws that limit credit card access for people under 21 years of age.
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The Credit CARD Act of 2009 limits credit card access for people under 21 years of age. Young adults will have to get a parent to co-sign for them, or show proof they can repay the debt, in order to get a credit card. Also, credit card marketing will be limited on campus.
CreditCards.com talked to students at the University of Texas at Austin to get their reaction to new law. The portion affecting students takes effect in February of 2010.