As the oldest operating company that sells credit cards to college students, we see "responsible credit marketing" as a requirement. Working under this premise, we want to put you in touch with as many resources as possible. We've worked with the Federal Trade Commission (FTC), National Association of Attorneys General (NAAG), US Congress, and the General Accounting Office (GAO).
We recognize and applaud the FTC's mandate to allow college students (and traditional adults) full, unfettered access to credit reports. We recommend that the FTC allow for links to flow through to www.annualcreditreport.com and to minimize sales pitches and upgrade offers within the process of getting a free credit report.
UCMS would also like to recognize national and local legislators that recognize March to be “College Credit Card, Credit Healthy Month”
UCMS issues a special thanks, on behalf of college students across America, to Alan Greenspan, Fmr Chairman of the Board of Governors of the Federal Reserve System, that stated in support of College Credit Card, Credit Healthy Month, “Financial literacy programs provide much needed education for America's youth.”
*** UCMS supports ***
- Direct mail curtailment and FERPA adherence vs ferpa "interpretations" and loop holes
- Credit education within the card activation process
- Disclosure box in each statement. Clear declaration of when the balance will be paid matched to payment levels.
- A Resolution to decree a special month that is for "College Credit Card, Credit Healthy Month ".
- A law that protects young adults from escalating interest charges in universal default.
- An expanded disclosure box that calculates time to pay off the entire loan amount IN EVERY STATEMENT.
- University disclosure of montization-per-student included in public documents of accountability
- The incorporation of credit education into the young adult point of sale.
- The use of a "privacy disclosure box" the reveals how private data is shared.