CARD ACT

Students

Several components of the Act addressed underage applicants in general and college students in particular.
Campus marketing: Credit card marketing teams can no longer appear on college campuses to offer giveaways in order to solicit credit card applications. This applies to off-campus college-sponsored events, too.
Mailing offers: The Credit CARD Act also prohibits credit card companies from mailing offers to prospective customers under the age of 21, unless they specifically "opt in" to receive those materials.
Ability to pay: Credit card companies have to consider an applicant's ability to repay before approving a new credit card, curtailing the practice of issuing cards in order to collect late fees and other charges (and, of course, targeting students). The act also restricts fees on low-balance cards sold to cardholders with bad credit.
Underage cardholders: The Credit CARD Act prohibits lenders from issuing new credit cards to Americans under the age of 21 unless that applicant finds an adult co-signer capable of paying off a new credit line. Also included is a provision that credit bureaus can no longer supply reports on Americans under age 21 without parental consent.


1. Please write 5 facts and your opinion about the CARD ACT of 2009. How does this affect you?


2. Please list which social media sites are the best ones to use and why. (+200)


Please type up all work and hand in by the end of  class today.