New credit card restrictions make it tougher for Texas State students to get their hands on the plastic. Peter Norosky has more in this Bobcat Update.
Last May, Congress decided to crack down on credit card companies by regulating them more. New restrictions will be enforced, including some that will affect college students who are under 21. Minors are now required to have a co-signer when they apply for a credit card.
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Some of the new regulations are designed to help card-holders acquire or keep good credit. For example, card issuers must now give 45-days notice before they can raise interest rates. Also, banks must now mail credit card bills no later than 21 days before payments are due. These restrictions could be beneficial to students who are learning to manage their credit.
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Stand Up
Bobcat Update, a student-produced newscast recapping events at Texas State University, and is available for viewing on YouTube.
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