Back To School With No Credit Cards

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First time college students will now have to get along without something their predecessors have always had.

The restrictions under the CARD act of 2009 prohibits the advertising of credit cards to those under the age of 21 and if you are under 21 you must prove that you have your own income to make the required payments or you must get a co-signer.

If you do get a co-signer, the co-signer must sign and approve if you want to make any changes like getting a higher credit card limit.

Credit card companies must curtail their advertising and they are now prohibited from advertising within 1000 feet of any college campus. This also includes college events, like football games, basketball games, plays and even concerts. They also cannot offer any ?tangible? gifts for applying for a credit card. Tangible gifts include t-shirts and the like but do not include such bonuses as discounts, reward points or promotional credit terms.

The co-signer on a credit card does not necessarily need to be a parent or guardian. In fact, an older college student friend could qualify as a co-signer if they are over 21. It may not be smart, but it can be done.