BOSTON – The U.S. Public Interest Research Group , the American Council on Education, the National Association of College and University Business Officers, and the National Association of Student Personnel Administrators have joined together to launch a national campaign against marketing credit cards on college campuses, Marketing Daily reports. The groups call the current practices by credit card companies “deceptive.”
The coalition contend that the credit card companies sponsor promotions and giveaways that con students into applying for credit cards that have unreasonably high fees. The groups do not want to prevent students from receiving credit cards but to stop controversial marketing practices while giving students more information on the risks that come with credit purchases. The campaign also urges college administrators to have a more active role in which types of credit card marketing will be allowed on their campuses.
Mark Hamill, director of advocacy for the National Association of College and University Business Officers, said that 15 states currently restrict or forbid credit card marketing directed at students on campus.
The groups want schools to better educate students about finances and credit card usage, and to also ban free gifts and food as incentives to sign up students on campus.