Itz time 4 U 2 stop spending. UR 2 close 2 credit limit.

A text message from a credit card company? It is one new strategy that could help college students and others avoid getting socked with hefty fees and higher rates.

This summer, Chase card holders will get a $10 credit when they sign up for three such tools — free alerts, automatic payments and online statements.

Think of such cyber-friendly gimmicks as a natural response by the credit card companies to increased heat in Congress. Some lawmakers are calling for tougher restrictions on credit card practices. And the card companies are rolling out more ways to save their skin while maybe even saving you money.

REWARDS FOR INITIATIVE

Discover Financial Services has launched the Discover Motiva Card, rewarding consumers for good credit management.

Make an on-time payment six months in a row? You get the next month's interest on any unpaid balance back as a bonus.

The card allows consumers to pay their bills over the phone for free . Many cards charge for that service.

Some others companies offer deals for on-time payment, including a Citi mtvU Platinum Select Visa for College Students.

This month, Chase launched what it calls its Chase Clear & Simple program. The $10 credit for those who sign up for all three online tools rolls out in July.

Customers can select text messages, phone messages or e-mail. Want an alert of a transaction of $500 or more? Or a heads-up when approaching the credit limit? Or a reminder to pay the bill?

"It can be very easy to forget a due date," said Paul Hartwick, a spokesman for Chase Card Services in Wilmington, Del.

Hartwick said about 1.7 million of Chase's 100 million customers have signed up for alerts, which have been available for about a year.

Text messaging is a way of life for young consumers. So alerts on billing? FBM (fine by me).

LIMITS CAN BE BUSTED

Chase now has a site — www.chaseclearandsimple.com — to offer strategies. Chase allows consumers to pick their due date. Or they can request that they not be allowed to charge more than the credit limit.

Credit card companies maintain that many consumers don't want to be automatically declined, especially if there's an emergency.

Yet, a real limit is not a bad idea — and if you have to sign up to get one, well, FBM.