VISA Or FEESA? Credit Card Marketing On Campus

For years, credit card companies have aggressively marketed their products, counting on consumers to skip the fine print. In recent years, they’ve ramped up efforts to bring in college-aged customers.

In October, student volunteers with our campus PIRG chapters across the country struck back, launching a counter-marketing campaign. Handing out lollipops emblazoned with the words “Don’t be a sucker,” the volunteers are informing other students about the credit traps that await unwary borrowers.

In a story on the campaign, Business Week quoted Ed Mierzwinski, our chief advocate on financial privacy and security issues: “College students and parents are vulnerable and already hammered by the high cost of education.”

The average household credit card debt has doubled over the past 10 years. Our Truth About Credit project aims to educate consumers about the worst credit card company practices. In the fall, we testified in Congress, recommending legislation that would require credit card companies to provide real disclosure of minimum payments in credit card statements, among other reforms.