With the new law in place putting requirements on the ability to get a credit card for those under the age of 21, issuers are now getting creative when it comes to reaching out to students. In the past while they could simply set up booths in and around campus and give incentives for signing up for a card, in today’s environment it is the parents that are being highly targeted because they are likely the ones that will determine whether or not their children will get a card (as they will probably be the co-signers).

With one of the restrictions requiring a co-signer it now looks as though card issuers are putting their focus on the parents more than the student themselves. On many accounts, issuers are targeting those whom already have existing accounts with them and are sending promotional material. Others have simply taken the approach of sending marketing material to the students home addressed to the parents in an effort or utilizing the direct mail approach that has worked for credit card issuers for years.

When it comes to student credit cards, stakes are high when it comes to the issuers. On many accounts, issuers focus on students for many several reasons. One of the main reasons is the fact that students are future. Traditionally college students generate some of the highest profits due to the fact that most often they do not pay their balances off in full each month. Not only that, but student tend to hold on to their first credit card longer than any other because it is most likely their longest standing account showing credit.

With the CARD Act implementation date looming, many changes will be set on the way issuers are able to do things. Under the new law, those that are under the age of 21 will soon be required to have a co-signer, pass a financial literacy course, or show that they have the ability to re-pay amounts that are borrowed. While many students will be able to get a traditional credit card there will still be others that will not. For those that cannot, it look like an alternative will be needed and such an alternatives may be in the form of either a secured credit card or that of prepaid.

As the type of plastic students would probably migrate toward most, secured credit cards have been labeled as the best alternative. These types of cards for the most part are like any other traditional student credit card with the only difference being that a security deposit must first be put into an account. While these cards may not have the same great features of other cards; they do help build credit history, which above all is considered the most important aspect.

The other option that an increasingly growing number of students seem to enjoy comes in the form of a prepaid card. While it may not have been even considered an option in the past; a growing number of students and parents have now started to utilize it because of their opinions on debt. Not only that but in many cases prepaid cards, now offers some of the features that we see with credit cards. Great examples of this are things such as rewards, which include things such as discounts on purchases, cash back, and more. For students this could be something that is important as they try not to worry too much on their finances and more on their grades.

As some credit card issuers are using many different types of rewards to entice current cardholders to use their cards during the holiday season, some issuers are using extra rewards to gain new cardholders instead. One of those issuers is Citi Bank, and they are hoping to get the attention of college students looking for some plastic with a limited time offer that is running now through January 15, 2009. 

With this limited time promotion, college students who are approved for either the Citi® mtvU™ Platinum Select® Visa® Card for College Students or the Citi® Forward Card for College Students have the ability to earn reward points for a $25 Gift Card and more. For both student credit card offers there is great opportunity to earn up to an additional 3,600 bonus points just for paying your bill on time and staying under your credit limit.

So is getting a new credit card a priority for college students? Well, it really depends on who you ask. This is because while getting a new student credit offer during this holiday season is on the mind of some college students, many others could just be waiting until February when the CARD Act has been fully implemented, or may not get a credit card at all.

As many people will tell you, one of the most important things you can do as a young adult is to build a sound financial base. With that in mind, the target of choice when it comes to marketing campaigns for companies are those that are college students. As with any college student purchasing necessities like textbooks, food and gasoline is a requirement. In most cases, student credit cards are used to help ease the burden of paying for these products. Now Shell Corporation wants to change that, at least when it comes to paying for gas.

So what does Shell have that can save college students money? Shell offers a card called the "$aver Card", which is much different than a gas rewards credit card. The $avers Card is a annual fee free secure non-credit product that acts like a debit card and links directly to an existing checking account. Since it is linked to a checking account, there is no impact to a college student’s credit score. In fact, a Shell representative states that since college students graduate with more than four thousand dollars in credit card debt, it is important to give students tools that not only save money but allow them to be budget savvy as well.

Now through December 31, 2009, Shell is giving discounts of five cents per gallon on all Shell-branded gasoline and diesel purchases with the Shell $aver Card. When the promotion ends, cardholders can still enjoy everyday discounts of two cents off per gallon.

To learn more go to www.shellsavercard.com.

Did you know that in 2008, the average college senior carried a little over four thousand dollars in credit card debt, with one in every five students owing more than seven thousand dollars? If not, than this could seem like a harsh reality that millions of college students find themselves falling into debt way before they even start their careers.

To keep students from acquiring this debt many people say the best thing is to simply steer clear of credit cards but as simple as it sounds, credit cards always seem to become attractive and find their way into students’ pocketbooks. If this is the case, what can actually be done to help these and future college student from falling into credit card debt? According to an article in the Wall Street Journal entitled "Teaching Teens About (Credit) History", there is plenty.

The truth remains that teenagers will not learn much about credit cards and how to use them from school. As a parent, teaching your children about credit cards could ultimately influence them into make smart financial decisions that could effect the rest of their lives.

As college students find their way back to campuses across the country, one can only imagine the cost involved with getting a higher education. In the years past, one of the major items that could be found on almost every college student’s back-to-school list would be a student credit card for making payments and purchases that every student incurs. During this time, credit cards not only allowed one to gain financial independence, but it also allowed a way for students to start building a credit history. In this day and age, credit cards are still the best way to do just that, and with some credit card issuers giving great back-to-school deals college students could get rewarded well beyond the norm.

One issuer that is giving students extra perks for using their credit card both on and off campus is Citi Bank. In a promotion that started in July lasting throughout the month of September, new cardholders have the ability to receive ten times the amount of points generally earned with purchases. In addition, students can receive a great introductory interest rate on both purchases and balance transfers if they qualify.

In most cases the cost a college student incurs goes beyond the campus and well into the student’s social life. This is where credit card issuers such as Citi Bank can be utilized by getting rewarded for the cost that the average college student accrues.

As school has started for many college students and is about to start for millions of others, one can only imagine how the impending CARD Act will affect credit card issuers’ marketing campaigns on these campuses for the Fall 2009 semester. For these issuers, this will be the last semester that certain practices can be used and incentives can be given to lure college students to apply for their credit cards when thinking about starting the long road of credit building.

As many issuers gear up for the major changes on campus due to the Credit Card Accountability, Responsibility and Disclosure Act, there has not been much mention by credit card issuers concerning their current and future approach toward college students.  Due to this, there are many experts that believe compliance with the new law will be too expensive and difficult with the end result leading to discontinuing to market cards to students.

So will the CARD Act cause credit card issuers to abandon those that are under twenty one altogether? I don’t believe they will and here is why. In many accounts and purposes those under twenty one are the future revenue for the credit card issuer. There is no other time to start a relationship with the consumer than early on because if all goes well they may be a customer for life.

I can still remember those days. Walking back from class and seeing signs and leaflets stating “Get a Free Large Pizza”. These signs and leaflets were always popping up on what seemed to be on Fridays, and thinking about it now was probably a great strategy to get about any college student thinking about it.

As you probably already know, the pizza was not exactly “free”. To get your pizza all you had to do was fill out a credit card application, and get quizzed by people trying to determine if the information that you wrote down was yours or not. Well needless to say, I went home that day with a large pizza.

Well with the Card Accountability, Responsibility and Disclosure Act, there will be a couple of changes to the way credit card issuers are able market to student and young adults on and off campus. For those that are on campus, this act includes requirements that card issuers and universities disclose agreements with respect to the marketing or distribution of credit cards to students. For those young consumers that may or may not be on campus the act still requires some things that may protect them for the time being.

Some requirements include:

• Signature of parent/guardian, or someone willing to take financial responsibility for debt
• Information indicating means for paying back any credit extended
• Proof that individual has completed certified courses 

What have been some of the things that you were offered to get a credit card? Do freebies or discounts help you determine whether you get a card or not?

With the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act signed and set to take effect in February 2010, there is one group of people that will have to re-adjust how they will be able to obtain a credit card. Under the new law, those that are under the age of 21 will be required to have a co-signer, pass a financial literacy course, or show that they have the ability to repay amounts that are borrowed. With these guidelines in place there is only one solution that seems to be best for those under 21, a secured credit card.

Secured credit cards for the most part are like any other credit card. The difference is that a secured credit card is one in which the consumers open a card account with a security deposit equal to their credit limit. This deposit, in many accounts could be termed as “proof” that the cardholder has the ability to repay the amount that is borrowed. Also with a secured card there is no need for a cosigner because in the case of someone defaulting, the credit card issuer simply takes the security deposit linked with the card.

Although at the moment secured cards are marketed toward those consumers with bad or not credit history, I do see this changing as we get closer to the beginning of next year. I think that card issuers will see this as an avenue to reach those consumers (under 21) who know that they need credit and that their credit history will affect interest rates in their future.