College students duck new credit-card law with friends

Full story: Lowell Sun

Some college students have figured a way around new federal rules restricting their access to credit cards by simply turning to older students for help.
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1 - 4 of 4 Comments Last updated Feb 2, 2012
Tyngsborough

Merrimack, NH

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#1
Sep 8, 2010
 
When our son turned sixteen we added him to our credit card. All we asked him to do was keep the receipts, reconcile them with the bill when it came in and give us a check for his charges.
We never questioned how much he spent or how he spent it.
When he turned twenty-one he got his own credit card. To this day he pays his credit card bill on the day he gets it.
I can think of a lot of things I wish I had done differently as a parent but that worked out very well for him and for us.
WashingtonSaving sBank

Raleigh, NC

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#2
Sep 9, 2010
 
Instead of ducking the new credit card laws, college students should work with their bank to develop a financial plan that works for them. Community banks in particular want to work with people to ensure they have the financial flexibility that they need but also do not incur large amounts of debt or poor credit habits. http://bit.ly/9lyk1h

Since: Jun 11

Chandigarh, India

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#3
Jun 22, 2011
 
Its good to implement a new law against credit cards. The collage students must understand the values of their time and money they spent more for other activities then education . Because its the Educational Knowledge which take them ahead in the life and nothing else.

Since: Jan 12

Location hidden

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#4
Feb 2, 2012
 
first time hearing...i think its very much important to implement a new law against credit cards.Students parents should teach them the value of money and time.

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