Get 'em
Young

My GPA sucks but I've got great credit. Credit card companies market hard to college students. Ever wonder why? A typical college student makes about $8,000 a year if they are lucky and yet college students are marketed to as if they were wealthy, home owners over the age of 50. Its not unusual for a college student to run across 3 offers a day. There are credit card offerings in the student store and book store. Often times booths are set up at on campus or collegiate events offering free sports bags or back packs if the student will fill out a credit card application. Credit cards are merchandised in the local college paper and in magazines that appeal to the college age group. Students will receive ,on average, 2 credit card offers a week by mail.

Why do the credit card companies love college students?

• They typically have no bad credit. No credit at all is better than bad credit. Especially at this age.

• They spend, spend, spend. Looking good isn't cheap, the latest fashions, expensive shoes and hip clothing can max a card real quick.

• Impulse buys are much more common with college students.

• Alcohol and a high spending limit spells profit.

• Mom and Dad have money. The credit card companies know that mom and dad have the money to send their kids to college, so they probably have the money to bail them out when the debt stacks up.

Steve Gibson, Credit Options