Federal Reserve is examining credit card interests and fees...  |
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 Do you know a young person who received credit card applications in the mail at barely 18, then got into trouble? Mostly from not knowing how it works.. so they racked up the very high fees when the bill isn't paid on time, or didn't pay the full minimum payment.. then by that they can go over their limit, so then is another big fee added.. Do you think all these are fair business practices?
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1.  kykidd (2461) | 3 months ago |  I just can't understand why with all of the technology and rules of education today, why aren't our children understanding the consequences of debt?
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 flowerchilde (5358) | 3 months ago | Now that parents have caught on to this marketing strategy, hopefully many more young people are being warned and informed by their parents.. I've heard people say banking, finance, credit cards, etc should be a course in high school.. and I have to say I agree, as most of it is very complicated and when a young person looks at that shiny credit card, for instance, and the credit limit/opportunity, they likely just go yippee! Not realizing how it can backfire.. | |
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| 2. kebpete (6929) | 3 months ago |  No i dont i had a son who got him self in trouble like that.It is very wrong but they thrive on people like.
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| 3. Mechanicone (563) | 3 months ago |  If they were 18 then they should have taken the time to read the contract before signing. It is well stated about fees and such. Most 18 yr. olds don't need credit cards but they are out there for the taking. The credit card companies just draw these folks in and then the bomb falls later.
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| 4. KrauseHome (7321) | 3 months ago |  I think the biggest problem today is that #1 with the Economy being the way it is, companies are so willing to hand out Credit Cards and such anymore to just about anyone, and Credit does not matter to them. So in turn especially the younger ones do not know how to use them, and end up running up their Cards not having a way to pay anyone back, and destroy their Credit in the meantime.
But s lot of it also stems from the example they may or may not have been taught when growing up as a child in the home. If their parents were Free with money, and there was no real Budgeting there, what have they got to go by as an example? It's only when someone takes time to teach kids how to Budget, and avoid Credit issues do a lot of them listen and use Credit more wisely.
Maybe it should be taught more in the Schools, and especially when they get to College to prevent many of them from having yrs. of bad debts following them and not knowing how to get out of them.
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| 5. Lakota12 (10246) | 3 months ago |  Nope not fair at all .
and then htere is this kid that got one in fathers name dont really know how as his father only drew $700 SSI check so the kid had to lie about it then SIgn dads name and really went to town on it then when the mom got the bill she didnt know what the heck it was al about. I wish they would put this kid in prison for fruad but theyhavent done any thing to him. and the father is dead now
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| flowerchilde (5358) | 3 months ago | ..wow, they need to do more to prevent these types of fraud.. | |
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| Lakota12 (10246) | 3 months ago | yes they do. and this happened to be a stupid nephew of mine that did this and didnt care if his fater could pay or not for he thinks the world owes him a living! | |
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6.  BCMike (1459) | 3 months ago |  This post contains content of a mature nature. You must be Signed in or Registered to have the option to view this content.
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