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Students want fair credit
Survey illuminates pitfalls of card marketing techniques
By: Jim Myers
Issue date: 3/28/08 Section: News
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According to the results of a survey involving over 1,500 students at 40 colleges across the nation, most students said they support the idea that credit card companies should be forced to practice fair marketing principles when advertising to students on college campuses.
The United States Public Interest Research Group Education Fund, a nonprofit public advocacy organization, conducted the survey.
The survey took place between October 2007 and February 2008, and involved schools from 14 states, including the UA.
"Our mission is to ensure that credit card companies' methods are fair and transparent," said Neal Denardi, a leader of the Arizona PIRG student chapter and a political science junior. "Campus credit card marketing is simply out-of-control."
The survey found that 74 percent of students thought only cards with fair terms and conditions should be marketed on campus. The survey also found that 67 percent of students were opposed to the sale or sharing of student lists that included addresses, cell phone numbers and e-mail addresses to credit card companies.
The survey is part of an ongoing "Truth About Credit" campaign that aims to educate students about the risks of credit card debt and push for companies to use fair marketing practices.
According to the PIRG, the survey said that one of the main lures companies use is offering students free gifts in exchange for signing up for a card.
The survey found that the most common gifts were T-shirts or food items such as free pizza or sandwiches. Seventy-six percent of students surveyed said they stopped at a table or booth that displayed free items as promotional incentives.
"I know people who have done that," said Alex Delaney, a pre-medicine sophomore. "I've filled out stuff myself to get a free T-shirt, but I just wrote down false information on the forms so they couldn't send me anything."
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Viewing Comments 1 - 10 of 10
John Gillette
posted 3/30/08 @ 8:52 PM PST
I really don't see how one can say the credit card companies are unfair. It is common knowledge that you will get in trouble for spending money you don't have. (Continued…)
Credit Cards
posted 5/27/08 @ 2:43 AM PST
Credit Cards
http://www.credit-card-offers.com.au
Apply for the best credit cards online.
Credit Cards
0 Balance Transfer Credit Cards
posted 9/17/08 @ 3:16 AM PST
There are several new regulations be considered by the Federal Reserve and others that will likely go into effect next year. Two bills have also been introduced in Congress designed, in part, to protect college student from unfair marketing practices. (Continued…)
credit card
posted 9/30/08 @ 8:14 AM PST
have to agree that this definetly needs to be regulated, lack of financial education is out of control as all the financial service companies just take advantage of people
CreditReporter
posted 2/05/09 @ 2:36 AM PST
My clients had many problems related to their credit reports. And then i referred them this site, " http://www.creditmagic.org ". Its really worthy to visit this site. (Continued…)
TEST
posted 2/09/09 @ 11:41 PM PST
ASDF
Credit Worthiness
posted 3/08/09 @ 9:13 PM PST
The survey found that 74 percent of students thought only cards with fair terms and conditions should be marketed on campus. The survey also found that 67 percent of students were opposed to the sale or sharing of student lists that included addresses, cell phone numbers and e-mail addresses to credit card companies. (Continued…)
CreditCardAssist.com
posted 4/17/09 @ 10:12 PM PST
There's no doubt that credit card marketing on campus is some of the worst and most aggressive in the industry. The rollout of the new legislation due in July 2010 unfortunately won't change on-campus marketing very much, but there is more to come with how the industry is regulated. (Continued…)
Credit Card Man
posted 5/12/09 @ 5:53 PM PST
When I was in college I lived off my credit cards, add that to the school loan I got and 5 years later I am still paying a significant amount of my current income paying it all back. (Continued…)
www.discovercard.com
posted 6/07/09 @ 12:38 PM PST
I guess discover student credit cards are probably the most beneficial to students. What say? I always go for discover cards, prolly a lil better than others like amex or citi. (Continued…)
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