in the not too distant past, credit card companies tried to entice every student within a Frisbee’s throw of a college green to signup for entry-level cards by offering perks like free airline flights. While that practice was a way for lots of undergrads to demonstrate they were ready for the adult responsibility of repaying their debts – and hence establishing good credit – it also resulted in too many young people drowning in credit card debt. It was an unpopular enough marketing tactic that the Credit CARD Act of 2010 largely eliminated those campus credit card promotions.
Tag: college
Senate Scrutinizes Campus Cards
Christina Lindstrom, an official with the advocacy group US PIRG, testified that campus card arrangements are costly and unnecessary. “Right now students are being hit with high fees that are hard to avoid as they try to access their federal financial aid refunds through campus sponsored bank accounts and prepaid debit cards,” she said. Lindstrom went on to say that students at some schools were being charged “steep and unusual” fees to get their federal financial aid, including PIN transaction charges and overdraft fees of $37 and higher. “On the whole these accounts are not necessarily a better deal for students than what they might find through a bank not affiliated with the campus,” she testified.
Serve from American Express and Chegg Partner to Empower College Students
In a recent announcement, Serve from American Express announced its agreement with Chegg, the nation’s leading online student hub, to give college students a new way to receive payments for selling textbooks. Through this agreement, students will not only be able to receive payments through the company’s textbook buyback program exclusively through Serve from American… Continue reading Serve from American Express and Chegg Partner to Empower College Students