Credit card use among college students declined in 2010
News from Pivotal Payments:
18/07/2011 – College students applied for fewer credit cards last year, likely reflecting legislation from the 2009 Credit CARD Act that placed a limit on the how much issuers could market cards to the young demographic.

The Federal Reserve reported last week that the number of cards issued through colleges, universities and alumni associations fell by 17 percent in 2010. The number of marketing agreements between credit card companies and educational institutions dropped by 4 percent from the previous year.

There was also a 13 percent drop in the amount of money schools received from credit card marketing associations, further underlining the role CARD Act stipulations played in curbing the number of credit cards among the student population.

“I don’t think the industry has given up on students, but some colleges have eliminated students from their ongoing contracts,” Ed Mierzwinski, director of the consumer program at the National Association of State P…………… continues on Pivotal Payments
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Earnings Preview: American Express to report on 2Q
News from

updated 7/18/2011 2:05:51 PM ET 2011-07-18T18:05:51

With the lowest customer default rate in the credit card industry and rising card use among its affluent customers, American Express Co. is poised to report strong second-quarter results after the market closes Wednesday.

WHAT TO WATCH FOR: Any data that can point to traction for its digital wallet offering, Serve.

Amex introduced the digital payments platform during the first quarter, and on Monday announced a deal with Sprint to make it easier for customers of that network to access Serve using their smartphones. Since this pro…………… continues on

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