NJ bill restricting credit card marketing on campuses

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Mogul of Pineapples
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NJ bill restricting credit card marketing on campuses

Postby Mogul of Pineapples » Thu Oct 23, 2008 5:20 pm

New Jersey lawmakers have greenlit a bill that will make it more difficult for college students to get credit cards on college campuses and protect their parents from being responsible for the debt. Creditors would not be allowed to offer gifts and freebies for students to sign up and they would need debt education before a student's application could be approved.

I think this is a good idea to do at schools,because it's not the people that truly understand credit we have to worry about, but the ones that don't and then get access to it. I'd like to see more states take up similar initiatives
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Postby magyar1045 » Thu Oct 23, 2008 7:00 pm

Agree - cc companies should not be allowed to peddle on campuses. Parents themselves will not be held responsible, as students in colleges are mostly over the age of 18, adults. Students who get into debt without the ability to repay will have a hard time getting their first jobs as more and more employers pull credit reports on potential new employees.

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Postby Floppster » Thu Oct 23, 2008 8:28 pm

+1 here. It is dangerous and frankly I know a few people which where running themselves in debt because they didn't know how to handle credit cards even when some people often think it is so easy.
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Postby diego08 » Fri Oct 24, 2008 12:49 am

i don't have a problem giving cards to college kids but give them a super low credit limit. $200 or $300. they can't do much damage with that little amount.

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Postby Cucumber » Sat Oct 25, 2008 4:15 pm

Good move. I remember at my school they would try and offer free t-shirt or pizza if you signed up. signing up for a credit card to get something that costs less than $10? :rolleyes: LOL It would take a lot more than that for me!
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Postby KC95 » Sun Oct 26, 2008 6:59 pm

are these college students total f***ing idiots? why would you sign up for a credit card just to get a free pizza?

if someone is that dumb to do something they deserve doing it so they can learn a lesson. that will teach them to be responsible in the future.

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Postby fffresh » Mon Oct 27, 2008 9:54 pm

I read today the John Hopkins no longer allows any marketing of credit cards on campus. This was done to comply with a new Maryland law which only required schools to have a "policy" on credit card marketing at campuses. It does not tell them they can or cannot do it but only that they need formal guidelines either way.

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