huffingtonpost.com — A flurry of bills is in the works in the House of Representatives and the Senate that would rein in how those companies do business. One proposed change that's triggered interest among lawmakers, particularly as the economy sours, would make it harder for college students to qualify for credit cards
Jul 22, 2008 View in Crawl 4
bbearJul 23, 2008
I used OptOut years ago and I haven't received a credit card offer since. I used to get 5 - 10 a week. You can even sign up online.
govcontractorJul 23, 2008
That is what banks used to do until the left started bitching that it was racist, sexist, ageist, whateverist. Now foreclosure rates are skyrocketing. That's what we get when politicians screw with money. They suck at it. They always have and always will. Think I'm nuts? Barney Frank actually proposed a bill to require lenders to reduce the principle of mortgages at risk of default. For those who haven't played Monopoly, the principle is what was borrowed in the first place.
chriskcpaJul 23, 2008
Most 18 year olds are living in the moment (not always a bad thing) and they cannot/do not think about compounding interest and the fact that if they make minimum payments they will be paying the rest of their lives - I know I'm generalizing but I was one of those 18 yr olds a long time ago! Bottom line - teach kids financial responsibility at a young age. I don't think the government stepping in is the solution but people defaulting on their debts does end up impacting us all at some point...
philipl411Jul 23, 2008
But what liberal really want is to reduce the principle on mortgages for poor people and increase the principle on mortgage for people able to pay their mortgages. Which would then cause those people to not be able to pay their mortgages. Then the government will pass a bill reducing those morgages. Its a never ending circle
cquinndJul 24, 2008
KJSatz, you are assuming that the person with the 30 has no plans for paying the loan off early.
gotalkmoneyAug 4, 2008
Students need to be educated when it comes to credit cards. Credit cards aren't "free money" and I agree with the comments above, if you think it's "free', you shouldn't get a credit card!! Credit card companies are making it SO easy ot get credit cards and congress does need to put an end to this. I'm a strong believer that the colleges should hold manadatory classes on how credit can affect you. The best way to get a credit card is to do your own research. Simple searches on Google bring me to websites like <a class="user" href="http://www.findcollegecards.com">http://www.findcollegecards.com</a> that show you all the cards on the market. Do your research and you can find the card that fits your needs.
pokey5Sep 15, 2008
I agree with gotalkmoney (adove) without the proper education, students and young adults will simply spend what they do not have. Finance doesn't get taught here in Australia until late years in High School, even then it's not up to a proper standard. Parents should look into getting a low interest credit card or a no annual fee for their kids and help them manage it effectively.First thing you should do, is read about credit cards and compare credit cards. You can do all this on - <a class="user" href="http://www.creditcards.com.au">http://www.creditcards.com.au</a>Pokey
mygetfiMar 11, 2009
I just said this on a previous article comment... has anyone here seen Maxed Out? If students don't learn how to properly manage their credit cards, then they will wind up in so much debt it's scary. A good resource for students to learn how to manage their credit cards is here: <a class="user" href="http://www.studentcreditcardscenter.com" rel="nofollow">http://www.studentcreditcardscenter.com</a>
twizzlenicoleAug 5, 2009
It is crap the amount of tuition fees unis and collages charge, really what are they being spent on? Most uni students are only in class a couple of hours a day, the rest is meant to be "study time". So us students are getting into huge amounts of debt and what fantastic teaching and resources are we getting?