Student credit cards A review of the facts
A bill was introduced that requires companies to provide educational programs for students prior to any student credit cards being issued. Those financial courses would give new applicants background on what various rates and fees actually mean, what happens when balances are not paid, how debt is accrued and how debt and delinquencies affect credit history. The bill also limits sales gimmicks, so students are not wooed into applying for credit cards just to get the free pizza or shirt. New Jersey legislators, like those of the states that preceded them, are hoping to prevent bad credit habits in the students on their campuses. They want the students at its universities to understand the responsibility they take on when they open a credit card account.