Any student can tell you that the first thing they get in the mail when they return to campus is a wad of offers from credit card companies. But what most students and their parents did not know until recently was that colleges are behind the effort to get students to sign up for plastic.
Lucrative multi-million dollar contracts give colleges a kickback, so when a student applies for college the university also hopes they will apply for lots of credit cards. Buying all those pizzas or taking out emergency cash advances means big bonuses to colleges that reap as much as a dollar per student. But they can make even more if students carry a lot of debt and don’t pay it off right away. <
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Card Companies, Companies, Credit Card, Credit Card Companies
According to credit card news today, credit card companies are turning on customers who dont turn a profit. Good quality customers who use credit cards responsibly may be being targeted by credit card companies using personal data.
According to comparison sites, a number of borrowers with exemplary credit ratings and high incomes are being turned down by card companies this year. The news follows a shift in data sharing legislation, with companies now able to exchange personal data about their customers.
This data should be used purely to lower debt risks for individuals, and not for commercial reasons. However, consumer groups believe that this is not the case. Read the full post
Card Companies, Credit Card, Credit Card Companies, Customers