TRENTON, NJ (AP) -- Credit card companies that want to solicit customers on New Jersey's college campuses are now facing tighter restrictions.
Legislation that Gov. Jon Corzine signed Friday bars the companies from buying lists of students' names and addresses from colleges. They also can't offer gifts to entice students to apply for a card.
Companies also now must register with colleges if they want to sign up students on their campuses and provide credit education courses that explain how interest is calculated and discuss the proper use of credit. They also must certify that student applicants successfully completed the course.
And if a student incurs significant credit card debt, the card's issuer cannot initiate debt collection against their parents unless they agreed in writing to be liable for the debt.
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