During the upcoming fall semester on college campuses nationwide, credit card companies will have to find new ways to lure young adults.

Under the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, credit card issuers are no longer allowed to target teens with free gifts on or near campuses. Instead, people under the age of 21 must now have a parent’s consent in order to open a line of credit, giving issuers less room to prey on the minds and wallets of uninformed young adults, who typically have little or no experience in managing money.

Allowing a teen to have a credit card isn’t necessarily a bad thing, MarketWatch reports. In the wake of new consumer protections, there’s an opportunity to introduce the concept of credit cards to young adults. Parents have direct access to the account for which they co-sign; this will allow them to monitor activity in the account. Card holders can also opt to eliminate overdraft fees in exchange for having transactions rejected when a transaction pushes the overall balance on the card past the established limit.

These new options still give young adults the chance to build a credit score for the first time. Parents wary of the idea of putting credit cards in their children’s hands can opt for prepaid or debit card options first until their children grasp and demonstrate better money management skills.

Tags: co-signed credit cards, credit monitoring, credit scores