Limits on Credit Cards for College Students

It will now be a little harder for credit card companies to target college students. New limitations due to the Credit CARD (Card Accountability Responsibility and Disclosure) Act of 2009 will come into effect across colleges on Monday.

The law, signed by President Obama in May, came about because of consumer worries about the level of credit card debt college students assume. The average student gets 25 to 50 credit card offers a semester and graduates with$3,173 worth of credit card debt.