Keep in mind this is just one of thousands of cases of credit card companies exploiting students on university and college campuses. More importantly this is a case of a credit card company hiding behind a marketing firm to do the dirty work.
Lawyers from The Ohio State University Moritz College filed a suite in September 2007 against Campus Dimensions Inc. for:
- Failing to clearly state the conditions of an offer.
- Using bait advertising.
- Using "free" without clearly setting forth all terms and obligations of the offer.
- Notifying prospective consumers about a prize or something of value without disclosing any and all conditions necessary to get it.
This story came to light because 3rd years students and a law professor investigated the company's actions on campus for a full year. Thank you!
I obtained one of my credit cards the same way: at a campus event where they were giving away a free "Queen's Unviersity" tee-shirt to everyone registering for a credit card which had a beautiful picture of my university on it. Who wouldn't want one?!
In this case, I was a first year student, and they blatantly exploited my feeling of patriotism and belonging towards my university.
My Big Question
Even though I consider myself very aware of misleading marketing tactics, I fell for it. How the hell can a 20-something student sitting behind a plastic folding-table bait me to sign-up for a credit card?
When last year I spent a year in Belgium I couldn't get one since they needed a year's worth of spending history. And I could only get one in a bank. That makes more sense doesn't it?
Those lax financial laws in North America are killing a society... and it started last year with the financial credit crisis.