Collegiate conniving: Students risk credit by co-signing for pals

credit card showing MasterCard logo
credit card showing MasterCard logo

Oh, those zany college students! According to the Denver Post, some enterprising undergrads are making an end-run around CARD Act rules meant to protect them from being victimized by credit card companies.

The rules state that a person under 21 years old who doesn't have any income to show on a card application must get a co-signer. Normally, this means hitting up mom and dad. But if the parents say no, or if they have poor credit, students are turning to slightly older friends to co-sign for them. It's a high-stakes -- albeit legal -- version of underclassmen hitting up their older classmates to buy them alcohol.