Bad credit credit cards What you need to know
Young people who do not have regular jobs, or whose jobs do not pay enough to count as "reasonable income," must find a cosigner of 21 or older who can take on the debt if the younger creditor cannot pay. This is the most severe of the coming restrictions. Once it takes effect, the days of casually signing up for a new credit card at a booth on the college green will be over. Many students will be able to get credit cards anyway with their parents' help, but students whose parents or guardians have bad credit will find it difficult or impossible to qualify for credit cards. * Credit card companies will need the permission of the older cosigner to raise the credit limit on student credit cards.