When it comes to credit cards for college students, there are two types of card issuers: Those who actively advertise student credit cards, and those who don't.

Having a credit card in college can simplify life and open up a new world of purchasing power. However, as many students discover the hard way, credit cards can be a friend or foe, and you decide which.

Congress wrote the new credit card law, the Fed laid out the rules for implementing it, and credit card issuers put the rules into effect. However, when it comes to student credit cards, key features of the new credit card rules appear to have gotten lost in translation.

With the new credit card rules, many parents of college students may breathe a sigh of relief. Firstly, credit card issuers can no longer push credit cards on college campuses as aggressively as before.

With the new credit card law, college students under the age of 21, who don’t have sufficient income, will need a co-signer to get a student credit card.