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The Miami
Vol. 88, Issue 5 | Feb. 4 - Feb. 7, 2010
HURRICANE STUDENT NEWSPAPER OF THE UNIVERSITY OF MIAMI IN CORAL GABLES, FLORIDA, SINCE 1929
MATT WALLACH // The Miami Hurricane
Credit crunch
GIVE US FAIR GRADING TAS SHOULDN’T BE IN CONTROL OF OUR GPAS PAGE 5
HAVE A SUPER WEEKEND MAXIMIZE YOUR SUPER BOWL EXPERIENCE PAGE 7
SMASHING THE RECORD SENIOR TENNIS STAR HAS THE MOST WINS IN PROGRAM HISTORY PAGE 10
Getting a credit card in college just got a little bit harder BY NINA RUGGIERO | ASSISTANT NEWS EDITOR
L
ittle black dress: $60. Taxi to and from South Beach: $80. Two drinks at Heathrow: $50. Graduating college without credit card debt: Priceless. Are you willing to give up the plastic and kiss the old “buy now, pay later” trick goodbye? Starting Feb. 22 some people may have to, at least until they turn 21. The new Credit Card Accountability, Responsibility and Disclosure Act (CARD) will prevent excessive rate increases, improve transparency among credit card companies, eliminate the confusing fine print and protect young
people from getting in over their heads. There’s just one issue for college students: new restrictions on who is eligible for credit could put many underage consumers out of the running. Applicants will be required to have a cosigner before they can be approved, something for which many parents in today’s economy may be unwilling or unable to take responsibility. They’ll be forced to prove how they’ll be paying any balance beforehand, and any credit line increases must be approved by the cosigner who must remain involved in the continuous management of their finances. SEE CREDIT CARD, PAGE 4