Americans of a certain generation will remember it well: You arrive at college for orientation week and the first thing you see are tables and tables staffed by chipper credit-card representatives — all trying to get you to sign up for your first card, dangling fun giveaways (including kegs of beer) and promises of low balances and high credit limits.
Analysis by Amy Rose Dobson
This freewheeling era came to an end in 2009 with the Credit Card Act after various groups — representing civil rights, labor, seniors and others — banded together to advocate for reform. Among the regulations were stricter rules about marketing cards to young people, banning those kinds of promotions.
