Consumer Payment Card News


With college seniors now carrying 3.9 credit cards representing total debt of $4,134, some students are apparently flunking personal debt management. Citibank says a recent survey it conducted showed that although the majority of respondents understand the importance of establishing a good credit history in college and beyond, and are aware of what a credit report is, only 26% have actually seen their own report. Therefore, Citi, one of the largest issuers of college credit cards, announced it is offering its student cardholders a free copy of their own Experian credit report. The new initiative is part of Citi’s ‘Credit-ED Program’ which offers a variety of free financial management tools to students, parents and college administrators that include: the Web site where students can learn the fundamentals of money management; the “Ask Anita” e-mail service allowing students to receive answers to their credit-related questions via [email protected]; and the Web site for college administrators to help guide their students to financial “smarts.”

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