Student credit cards, something to read about
The change to the credit card laws will prevent you from paying more in interest for that $150 purchase than you paid for it in the first place. * You can no longer accidentally run up huge bills by going over your credit limit. Currently, most credit cards will let you go over the limit, but charge a hefty fee for each purchase made over the limit. After February 2010, you will need to give your credit card issuer permission to allow you to exceed your credit limit, reducing the likelihood that you will find extra fees on your statement at the end of the month. * No one under 21 will be able to sign up for credit cards without a cosigner who is over 21, unless the person under 21 can provide proof that he or she makes enough money to repay the proposed line of credit.