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Are credit card banks or issuers still widely accepted in colleges?

[Tuesday, November 2nd, 2010]

With the CARD Act`s regulations yet to breed positive manifestations of responsible marketing and consumption, credit card issuers inside campuses are still pretty much accepted the way they had been in the past.

The difference, this time, is that the credit card issuers are no longer allowed to maintain booths inside the campus, whether this move can prevent college students from applying for credit cards remains to be seen.

In the past, the reasons why these credit card issuers gained easy acceptance in the schools were because of a set of factors. First of which was the student`s financial instability as more of a compelling rather than a deterring factor to apply for new credit cards.

The students were tempted to get hold of the credit cards because they wanted to push the extent at which they feel independence in particular aspects of their lives.

Another contributing reason for their easily gained acceptance was the fact that credit card banks have long given huge amounts of money to different colleges across the country. They gave the money to the colleges in partnership with the latter, and in exchange of being allowed to gain access to the college market.

Probably most important of all the reasons, the credit card banks or issuers themselves were successful in marketing themselves inside the campuses. Their tactics clicked with the market they wanted to gain access to and their huge monetary donations to colleges were attractive enough to forge partnerships.

For the continued acceptance of the credit card issuers albeit they`d have to issue cards outside the campus the same reasons mentioned above may hold true.

The college students of course were more than enticed by the freebies given by the card issuers like t-shirts, pizzas, and night-party sponsorships. The students were more importantly lured by the offer of an appealing credit card limit initially, and the claim of a minimal monthly repayment amount.

With other reasons like increasing food prices, transportation costs, and rent payment for the places where the students stay, the more that it may be tempting for the young adults to get credit cards and use them for payment.

Also with the CARD Act only mandating credit card companies and colleges to reveal the amounts behind their partnerships, there can hardly be any concrete action to preclude the college students form incurring debts early on in their lives.

For these reasons, credit card banks can be said to still remain widely accepted across colleges.

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