When telemarketers called her earlier this year touting a credit card at a low interest rate, Tiana Outerbridge, a university student studying in Canada, could not resist.

"It didn't turn out to be a good idea," said Miss Outerbridge, who maxed out the card. "Now I have to come back for the summer to pay it off."

So this week, Miss Outerbridge and about 20 other college and university students spent an hour and a half in a boardroom at the Bank of Butterfield yesterday evening to listen to a lecture on credit cards and savings techniques. In exchange for sitting through BNTB Financial Management 101, as the session was named, the students will receive a pre-approved MasterCard with a $1,000 credit limit for a $10 annual fee, instead of the $30 charged to regular cardholders. They also signed up for chequing and savings accounts.

Last night's session was the second of six planned, which the bank devised in response to legislation that came into effect last November which lowered the age of majority from 21 to 18. The change meant that people in this three-year age bracket could enter a contract, sell property, marry without parental consent as well as take out loans and hold chequing accounts and credit cards in their own name.

"We suddenly have this new set of young adults," said Stephen Daley, vice president of corporate communications for the bank. "Along with that age change came a set of new needs. They can't just get these things (credit cards). They need to know how to manage credit and save wisely."

"Of course it does get us new customers, too."

Any students who apply for a Bank of Butterfield credit card will be required to enrol in the course, which exempts them from the traditional credit approval process, or have a loan officer review their application. Organisers sent young bank employees to Club 40 and other venues to distribute fliers, and all of the four courses originally scheduled at weekly intervals through the beginning of next month are fully subscribed. Because of high demand, the bank decided this week to offer two extra courses, one in late July and the other in August, with future courses during slower periods after the summers is over offered according to demand.Andrea Ratteray, a finance and accounting officer in the bank's card services department, explained to students the importance of building their credit history so that they could take out loans and establish credit elsewhere later on.

But the Bank of Butterfield's approach differs markedly from credit card companies elsewhere which barrage students with offers of credit cards with low introductory interest rates, in the hope that they will rack up bills, defer payment and pay back what can become hefty interest charges.

"It is imperative to keep up to date with your credit card payments," Ms Ratteray said, who added that the students' cards will be deactivated if they miss a payment. And while some credit card holders are allowed to spend more than their limit - and pay an overlimit fee in the region of $25 - the students who receive a credit card after taking the course will not be able to go over their spending limit. The interest rate on deferred payment will be the same as that charged to regular cardholders - 18.25 percent annually.

Ms Ratteray also advised students to avoid cash advances - the practice of withdrawing cash on a credit card at a bank or automated teller machine - because interest charges are high begin accruing immediately.

Jennifer Sharpe, the bank's assistant vice president of retail banking, explained the importance of saving to students. She handed out budget sheets - printed on neon yellow paper - to help the students determine where their money goes and devise a savings plan.

The final slide of her PowerPoint presentation said that if students stuck to a programme, they would enjoy the results. The slide featured a picture of a beach while speakers played the sound of waves crashing.

But most of the students, it seems, came for the credit card.

"After using your parents, you discover that maybe you want to deal with your own bills," said 21-year-old Kristin Smith, who used her grandmother's credit card for a while. "If I had my own, I would know what I am spending. And I think you procrastinate when you know it's someone else's card."