Word: baybanks
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...BayBank, which started soliciting students only four years ago, entered the market with the sole purpose of recruiting long-term customers, according to Jim M. Cosman, president of BayBank Systems credit corp...
Cosman says that, although the student market composes a small percentage of total credit customers, BayBank decided to take advantage of its fall recruiting of college student checking accounts to appeal to potential new credit cardholders...
...only does it waive the minimum income requirements, BayBank created a special $500 credit line in place of the usual $1000 minimum to make the accounts more accessible to students...
...president of the credit corp. says because BayBank does not want to penalize college students who do not have a regular source of income and thus risk losing future customers, the bank accepts parents and "other questionable sources" as guarantee for payment...
...help ensure that BayBank will retain their college cardholders after graduation, Cosman says that they arrange consultation appointments about increasing credit lines to coincide with the time of a student's graduation...