Comments on: What The New Credit Card Act Means To You http://studenomics.com/debt-reduction/what-the-new-credit-card-act-means-to-you/ Fri, 10 Feb 2012 19:14:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ryan http://studenomics.com/debt-reduction/what-the-new-credit-card-act-means-to-you/#comment-21733 Ryan Sun, 31 Jan 2010 23:09:46 +0000 http://studenomics.com/?p=3518#comment-21733 That's exactly my point. Any number is going to be arbitrary. That's why we need one number. Either you're an adult at 18 and can do everything and I mean everything or you aren't an adult until you're 21. At 18, you have to realize that you are in fact an adult and the decisions you make carry more weight than they might have before. That’s exactly my point. Any number is going to be arbitrary. That’s why we need one number. Either you’re an adult at 18 and can do everything and I mean everything or you aren’t an adult until you’re 21.

At 18, you have to realize that you are in fact an adult and the decisions you make carry more weight than they might have before.

]]> By: Edwin http://studenomics.com/debt-reduction/what-the-new-credit-card-act-means-to-you/#comment-21718 Edwin Sun, 31 Jan 2010 19:50:13 +0000 http://studenomics.com/?p=3518#comment-21718 Turning 18 doesn't change a person whatsoever, its' a rather arbitrary number. Surveys have shown that college student's are clearly in a worse financial state due to companies pushing credit cards on them. The fact that they are marketed to so heavily goes to show that credit card companies find that demographic highly profitable. And profit for a credit card issuer necessitates a loss for credit card holders. Do the math behind interest rates in the range that credit cards will give you and you will see it helps no one. Turning 18 doesn’t change a person whatsoever, its’ a rather arbitrary number. Surveys have shown that college student’s are clearly in a worse financial state due to companies pushing credit cards on them. The fact that they are marketed to so heavily goes to show that credit card companies find that demographic highly profitable. And profit for a credit card issuer necessitates a loss for credit card holders.

Do the math behind interest rates in the range that credit cards will give you and you will see it helps no one.

]]> By: Ryan http://studenomics.com/debt-reduction/what-the-new-credit-card-act-means-to-you/#comment-21701 Ryan Sun, 31 Jan 2010 15:52:55 +0000 http://studenomics.com/?p=3518#comment-21701 I think it's a joke. Either you're an adult at 18 or you're not. Proving you have an income should be the same whether you're 18 or 40. I know most finance discussions don't typically mention this, but as bad as credit card debt is, it can certainly help some people. And it can be paid off...eventually. I'm sure tons of businesses have been built using credit cards. If I recall correctly, the guys at Google financed their first servers and office with credit cards. I think it’s a joke. Either you’re an adult at 18 or you’re not. Proving you have an income should be the same whether you’re 18 or 40.

I know most finance discussions don’t typically mention this, but as bad as credit card debt is, it can certainly help some people. And it can be paid off…eventually.

I’m sure tons of businesses have been built using credit cards. If I recall correctly, the guys at Google financed their first servers and office with credit cards.

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