Did you know new credit card regulations are currently in full effect? Below are three key important factors about the new rules.
1. When you sign-up for a credit card, the interest rates will never change.
2. When your signing up for a credit card be aware of how much your monthly payments will be, and you should receive monthly statements showing how long it will take you to pay it off, like a car note or mortgage payment.
3. The last and my personal favorite, if a person is under the age of 21, you must have a co-signer before you are allowed to receive a credit card.
When I was 18 years old and in college I was given all type of credit card applications, which later added to my future debt.
President Obama believes a teenager should have a co-signer because at the age of 18, you're not mature enough to handle debt.
Since it's obvious that credit card companies prey on young college students, I wonder if student credit card debt can be forgiven since it's considered predatory lending?
Can you imagine if Obama's new policy was in full effect from the time you were 18 up until 20 years of age? That sure would've helped a lot of young people not fall into debt at an early age.
President Obama believes a teenager should have a co-signer because at the age of 18, you're not mature enough to handle debt.
Since it's obvious that credit card companies prey on young college students, I wonder if student credit card debt can be forgiven since it's considered predatory lending?
Can you imagine if Obama's new policy was in full effect from the time you were 18 up until 20 years of age? That sure would've helped a lot of young people not fall into debt at an early age.
The Things That Make You Go Hmmmm...
2009 LA
