Low interest credit cards An online exploration
The changes, part of the Credit Card ACT of 2009, are intended to protect young consumers, but will have the net effect of making it much harder for college students to qualify for credit cards. College students with a pocket full of student credit cards may shortly be a thing of the past. The changes that take effect on February 22, 2009, are: * People under 21 must show evidence that they have "reasonable income," or enough income to pay off their line of debt. Young people who do not have regular jobs, or whose jobs do not pay enough to count as "reasonable income," must find a cosigner of 21 or older who can take on the debt if the younger creditor cannot pay. This is the most severe of the coming restrictions.