One of the primary goals of the 2009 CARD Act was to significantly cripple credit card companies and their efforts of wooing college students via tables set up on campus with free gifts for those who applied for new credit cards.
Now, though, theres a new marketing effort prepaid cards. And its all legal and its working like a charm. College students are in the bulls eye once again, this time, though, the risks are fewer. One of the biggest supporters is American Express and its introduced its own product for college students.
The Campus Edition Prepaid Card by American Express was unveiled this week.
Last week we wrote about the U.S. Consumer Financial Protection Bureaus ongoing crusade aiming to simplify credit card agreements, even as the CFPBs own survey had found that consumers reported to be fairly satisfied with how the current, post-CARD Act, version is presenting the terms and conditions of these contracts.
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