The Senate version of a bill forcing credit card issuers to adopt more consumer-friendly terms was approved today, 90-5. According to the New York Times account  of the debate on the Senate floor yesterday,  Sen. Byron L. Dorgan, D-N.D., criticized a marketing pitch by a major issuer for a "Hello Kitty" credit card aimed at children 10 to 14 years of age, saying, "I'd just love to know the person who thought this up and to say, 'Are you nuts? What on earth are credit companies doing soliciting young kids to get a credit card?' "

We can provide at least a partial answer to Dorgan's question. Back in June 2005, Consumer Reports Money Adviser singled out the Hello Kitty Debit MasterCard as a card that was being promoted  as teaching kids age 10 to 15 to "learn great money-management skills," while at the same time delivering a companion message to spend, spend spend.  The website promoting the card urged young cardholders to "shop 'til you drop," and  the iconic  kitty pictured on the card was decked out for a spree, purse at the ready.  The pre-paid card also was loaded with hefty fees--another real-world lesson about using plastic. 

We asked Peter Klamka,  president of Legend Credit,  the company that developed the Hello Kitty card,  about the  marketing logic behind the card.  "If one teenager gets the card,  then others see it and want one too," he said.  "There's a whole Hello Kitty culture that's kind of like Nascar for young women."

Fortunately, the version of credit card reform legislation approved today aims to protect consumers under age 21 from getting deluged with unsolicited credit card offers. The bill would require an over-21 co-signer or proof of an independent means of repayment for any new cardholder in the under-21 crowd. 

President Obama, who has publicly called for an end to card practices such as "anytime, any-reason rate hikes"  has asked that the House and Senate agree on a final version of a credit card reform bill for him to sign into law by the end of May.--Andrea Rock

  对于Dorgan的问题，我至少可以回答一部分。早在2005年的6月，消费者杂志理财顾问就指出Hello Kitty万事达信用卡在推销的过程中，教10—15岁的小孩“学习钱财管理技巧”，并同时传达这样一个信息——花钱，花钱，再花钱。信用卡推销网站极力主张年幼的持卡人“刷卡刷到爆”。而印在卡上标志性的kitty头像更是点缀了疯狂购物的气氛——钱已经准备好了。信用卡预存了大量的现金——另一堂关于使用信用卡的真实一课。

   我们询问了发行Hello Kitty信用卡的传奇信用卡公司总裁彼得·克拉姆卡有关信用卡背后的市场营销逻辑。他说，“如果一个青少年有一张卡，另一个看到了，他也会想要一张。这就是Hello Kitty的品牌文化，就像纳斯卡赛车之于年轻女性一样。” 

  幸运的是，今天通过了信用卡改革立法，旨在保护21岁以下的消费者免受主动提供服务的信用卡商洪水般的进攻。议案要求21岁以下群体在办卡时必须出具和21岁以上成年人的联合签名，或者其有独立偿还能力的证明。 

奥巴马总统公开呼吁停止一些信用卡消费模式，例如“任何时间，以任何理由消费”，并要求众议院和参议院在5月底之前通过信用卡改革最后议案，然后他将签署并使之具有法律效力。——安德里亚·罗克