May 23, 2010
Co-signatory credit cards are credit cards that are offered by credit card providers so that people with a poor or incomplete credit score can get a credit card without the need to go to a specialist low credit score credit card provider who will charge higher interest rates and have very low credit limits. read more…
November 22, 2009
Students have always been a target market for credit card providers. This is because there is a belief that it is at university, that many people develop life long brand loyalties. Younger people also tend to be less suspicious about debt.
The Credit Card Act of 2009 put new limits on issuing credit cards to students and people under the age of 21. Among these limits was a requirement that credit cards are not issued to borrowers under the age of 21 unless the borrower has a co-signatory or can prove that they can repay any loans independently. Although some balances will be available for students living at home with steady work, for most students under 21 this will mean that they need a co-signatory, in most cases a parent. In either case this will need a good and trusting relationship with parents. read more…