Turning 21 will soon have more benefits than just legal drinking.

In February 2010, credit card reforms will require adults to be 21 before obtaining a credit card, unless they can prove their capability of paying the bill or have a co-signer.

“Because of new laws and the bad economy, credit card issuers have been cutting back across the board,” said Connie Prater, senior writer of CreditCards.com.

This provision of the Credit Card Accountability Responsibility and Disclosure Act of 2009 will also prohibit credit card issuers from enticing young adults with free T-shirts and other giveaways for signing up – a common practice on college campuses.

“It has been well established historically that credit card companies set up tables during the first weeks of school and offer students inducements in exchange for signing up for a credit card,” Prater said. “Students become eager to qualify, which is the wrong kind of thinking when it comes to personal finance.”

Some students at the University notice the banks’ marketing strategies but do not usually feel influenced by their tactics.

“Bank of America was giving out things like water bottles, stress balls or even six months of free checking,” said Cole Brannan, a sophomore from McDonough. “I don’t have a credit card and I don’t think this free stuff would make me sign up for one.”

Brannan thinks the reform could be beneficial, and students could be better off waiting until they are 21 to begin building their credit.

“Not having a credit card helps me manage money wisely and even helps me save money since I can’t just run a card every time I want to buy something,” Brannan said.

But other students aren’t as conscious of their spending. According to student loan lender Sallie Mae, the average student credit card debt in 2008 was $3,100 and the typical undergraduate had an average of four or more cards.

“There are too many cases of students getting credit cards without knowing about interest rates and then having to get mom and dad to bail them out or have a negative record,” Prater said.

The Credit CARD Act is designed to help mitigate these problems and keep students from running into debt at a young age.

Tom Landrum, the University’s senior vice president for external affairs, said he has noticed over the last several years that Bank of America, the University’s partner bank, has greatly cut back on the marketing it does toward students.

“The marketing of affinity credit cards is much more heavily directed toward alumni, and I’ve not seen that it has been Bank of America’s practice to entice students to get in over their heads,” Landrum said.

The University does, however, provide Bank of America with a mailing list of students and alumni in exchange for agreed funds toward the Arch Foundation – the main fundraising arm of the University.

The law requires the disclosure of agreements such as these, which enable college affinity cards – cards typically tied to a charitable organization, educational institutions or non-profit organizations and give a small donation to that organization with every purchase on the card – and the release of mailing lists.

Landrum said the federal legislation for the reform has passed, but the banking industry has yet to receive the rules and guidelines on how to comply with the elements of the law.

But not all students are in agreement with the new law and it’s accompanying age requirement.

“If you’re old enough to go to college without your parents, then you should be old enough to have responsibility of a credit card on your own,” said Meagan Kelley, a sophomore from Powder Springs. “People are probably going to make the same mistakes later when they are 21 and have a credit card.”

Whether or not students agree with the reform, those under the age of 21 have until Feb. 22, 2010 to sign onto a credit card before the law is enforced.