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24/08/2009 -
As credit cards become increasingly popular, their use is no longer limited to middle aged adults.Many college students - and even some high school students - have begun to use credit cards, as a way to start building their credit before they enter the real world.
In addition, providing their children with credit cards when they leave for college is one way for parents to be in control of their children's finances even if they are far away, as they can see all the purchases on the bill and pay it directly from their home without having to physically send their kids money.
To target this growing trend, many credit card companies and lenders are providing student credit cards, with specialized interest rates, reward programs and loan options.
As the college student demographic represents a large portion of a merchant's potential customers, it is increasingly important for businesses to accept credit cards.
This is especially true for restaurants, stores and other businesses in college towns or near universities, as a higher proportion of their business will likely be from college students.
Businesses that do not currently have payment card processing capabilities are encouraged to find a merchant account provider that best matches their business needs.
