News
New Rules For Credit Cards On Campus
11-03-2009 08:10 AM EST
| By ###Ron Edwards/kbr
(Richmond, VA) -- Many college students have taken advantage of applying for credit cards. Students pile up great debt with credit cards to extent of owing thousands of dollars. The University of Richmond collects royalties for allowing Bank of America to offer credit cards to students, but new rules are on the way. Credit card companies will no longer provide credit to people under 21-years-old without a co-signer of proof they can make payments. Card companies can no longer offer free gifts to entice students to apply. The rule becomes effective in February.
Copyright 2009 Metro Networks Communications Inc., A Westwood One Company
Disclaimer: the news stories on Cox.com are the work of leading news organizations whose services are purchased to populate Cox.com with news as a service to our customers. Views and opinions presented in the news are not necessarily the views of Cox Communications.
Local News
We're sorry, there are no recent articles to display.