Credit Cards Return to School

Parents Forum
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<p>How Banks Are Circumventing Campus Credit Restrictions</p>

<p>"The Federal Reserve in March moved to close some of the loopholes in the Credit Card Accountability, Responsibility and Disclosure Act, the 2009 law intended to curb abusive credit-card lending. One group of borrowers, though, could still be vulnerable to aggressive tactics from lenders: college students…</p>

<p>…But “a ton of loopholes” remain, says Jim Hawkins, a professor at the University of Houston Law Center who surveyed more than 300 students in November about their credit-card habits…"</p>

<p>[Cards</a> Return to Campus - WSJ.com](<a href=“http://online.wsj.com/article/SB10001424052748704322804576303652621312770.html]Cards”>http://online.wsj.com/article/SB10001424052748704322804576303652621312770.html)</p>

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<p>I’ll have to have my son look into that before he heads off to college this fall. My daughter who is a junior was able to get a credit card in her own name with a $1000 limit before the new law took effect; her limit is now up to $1300. I was thinking I would have to get S one on my account, but if he has income this summer, maybe not. I would rather they have their own cards.</p>

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<p>ditto; so let me understand this…if my 18 yr old daughter has taxable income of some amount she can get a credit card in her name?</p>

<p>I, too, would rather they have their own cards (like mamabear, my junior has her own)</p>