Welcome to campus! To your left you can find the bookstore, and to your right you will find your dorm. If you follow the path around to the left you will find a swarm of hungry credit card marketers. Just act busy and don’t be tempted by free t-shirts and towels.

This typical college freshman scene may be changing for college students in some states if legislators get their way. Sitting on the desk of California Governor Arnold Schwarzenegger is a bill that would put a stop to credit card companies ability to use free giveaways to entice students to sign up for a card on public campuses. Those free giveaways can be tempting, which is why predatory marketing tactics has proven to be successful on college campuses. If we are calling the credit card companies marketing tactics as “Predatory”… that would make you the prey. How helpless must they think you students are?

Consumer protection groups, such as the U.S. Public Interest Research Group, have alleged that these companies target college students because teens lack significant financial experience, making them especially prone to incurring interest fees and overages. In 2004, the average undergraduate student had a credit debt of $2,169. This number is rising and no end is site with the high cost of college loans.

So when you take your walk through campus and see a tent full of credit card marketers trying to look hip and friendly, just remember that you have a HUGE bullseye on you. They want you, in fact they need you. They have statistics that prove if you sign up for their card while in college, you are highly likely to keep that same credit card for the remainder of your life.

Make educated decisions before filling out a credit card application on campus. Do the research online. Find the lowest interest rate, and best rewards that work for you. After all, long after that free t-shirt has been shredded by you amateur laundry skills, your credit card will still be in your wallet racking up interest.