Credit card application, what they say
This is the most severe of the coming restrictions. After it takes effect, young creditors will not be able to casually sign up for a new credit card offer that arrived in the mail, or even casually get a store card at Macy's or Sears. Many students will be able to get credit cards anyway with their parents' help, but students whose parents or guardians have bad credit will find it difficult or impossible to qualify for credit cards. * Credit card companies will need the permission of the older cosigner to raise the credit limit on student credit cards. No more surprise hikes on the credit limit, accompanied by a letter from your card company inviting you to take advantage of the hike and buy something big for yourself "because you deserve it.