I was on the phone with my cousin who was ranting about this law that will take effect in February 2010. See, my cousin just started attending university away from home and she was excited to finally be able to apply for her student credit card. The excitement faded, however, when she heard about the Credit CARD Act of 2009. Although this law will make college people less vulnerable to fraud and bad credit score, this will also make it harder for those who wish to have a student credit card to acquire one.

This new law sounds like bad news to students. Come February, my cousin who is under 21 years of age will need to have a co-signatory older than twenty-one, because she has no income. The co-signer, probably one of her parents will have to be jointly liable to the credit card company.

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