Credit Card Solicitors Have Nearly Disappeared at Colleges

March 31, 2014
Utica Observer-Dispatch (NY) 
credit card news
A report by the U.S. Government Accountability Office found that today's college campuses are largely devoid of credit card vendors vying for their business.

The report found that five out of nine large credit card companies say they no longer "actively market" their cards to college students, be it by on-campus enticements, direct mail, or email campaigns. Much of that likely has to do with the passing of the Credit Card Accountability Responsibility and Disclosure Act that regulated such practices in 2009. Colleges now offer tools to help students make informed financial decisions.

The GAO study found that such measures have led to decreased credit card use among college students, and that 72 percent of those who do charge goods and services pay off the $171 average monthly balance each month.

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