The Senate  passed sweeping credit card reform two weeks ago, including provisions that will make it nearly impossible for college students to get credit cards. Under the new legislation, no one under the age of 21 can qualify for a card unless their parent, legal guardian or spouse (over the age of 21) is the primary cardholder. If you want an exception to the cosigner requirement, you have to submit proof of your income. The law would also cap the amount that student card holders could borrow at $500 — or 20 percent of their annual income, whichever is greater. And if you wanted to request an increase in your credit line, you’d have to send in written permission from the co-signer. (You can read more about the bill’s impact on college card holders at the chronicle.co...

August 25, 2008 by Mara Strom It’s a conundrum. When you graduate from college, you’ll want to have a good credit score. Everyone from mortgage banks to potential employers will be checking your credit report to see if you are a credit worthy individual. And if you have never had a credit card (or some kind of secured debt, such as a mortgage or car loan), then your credit worthiness will not be rated very high. How can that be? — you might be wondering. You chose not to take out a credit card because you wanted to be responsible: To *avoid* the trap of consumer debt. Well, unfortunately for you, the credit reporting agencies use your credit card history to calculate your credit score. Also known as a FICO score, your credit score is configured using a mathematical fo...