The Credit Card Marketing Act was resubmitted to the Illinois General Assembly Rules Committee on Friday.

Introduced in February, the act aims to protect students from abusive practices by credit card companies. One provision would ban the distribution of giveaways such as food, merchandise or coupons, a tactic commonly used by credit card companies when marketing on college campuses.

"Unfortunately, (credit card companies) don't try to hook students with good deals," said Kati Phillips, spokesperson for the State Treasurer's Office. "They are more likely to try to trick you, by giving you a free pizza or sandwich and not telling you that your interest rates might go up at any time."

Phillips said college students are prime targets, as they are usually new to the financial world and might not understand how credit cards work, which leaves them vulnerable to abusive practices. Credit card companies are also more aggressive when marketing to college students, as they usually do not yet have credit cards, and older consumers are frequently reluctant to change their company.

In addition, the act would require contracts between universities and credit card companies to be public information. Students would then be able to see how much their university or alumni association is making via the contract with this company, which could help protect them from pitfalls associated with "affinity cards," Phillips said.

"It opens up some information that will allow people to become activists and demand that the contracts be better for them," she said.

While credit card interest rates have been rising for months across the nation, students are often particularly at risk. According to Index Credit Card's Credit Card Monitor, the student rate is at an average of 14.40 percent as of May 4, compared with 14.17 percent average for the overall market and average rates of 12.11 percent and 12.80 percent for non-reward business and consumer cards, respectively.

If faced with rising interest rates, Chris Umphlett, project manager for Campus Property Management and former Americorp VISTA at Land of Lincoln Legal Assistance Foundation, advised students to use their credit card as a bargaining tool. Threatening to close the card can persuade credit card companies not to raise interest rates, he said.

However, Umphlett said the best tactic for avoiding interest rates is to use credit cards widely.

Phillips said the Credit Card Marketing Act also includes provisions for educating incoming freshmen about credit cards and other financial challenges they might face, but students should exercise caution and do their own research as well. She advised thoroughly reading contracts and asking about any difficult phrasing, as contracts are often worded in obscure language.

"We're hoping that more students will hear this message and be skeptical and educated consumers," she said. "At the same time that we think there should be more regulations on the credit card companies because some of their practices are just unfair and reckless."