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After first credit card

7 Things Your Mother Never Told You About Credit Cards

After first credit card there is usually trouble. There is a lot written about credit cards  and young people getting credit, then wanting to know how to fix credit after first credit card. The recent administration, though, did all they could to reign in the credit card companies as they canvassed future debtors on college campuses across America. Do you think it will help?

Probably not. Not even as people open their credit card statements and see that in 18 years they will finally pay off that big screen they bought for Super Bowl Sunday. Heck, eighteen years isn't so bad. How many people have uncles serving less time than that? That's another story.

I also believe that people are the same all over. You can bet the credit card companies are betting on this fact also because they finally caved into the clause they must now include in every statement send to account holders. This Is In Being Written Plain English.

Did you know that in the past, since the 1950's when credit cards were born to like 6 months ago, the lender could change the terms of the contract at will. If they wanted to raise your interest rates, they could. If they wanted to change the terms of your account, they could. If they wanted to change the late fees, they could.

How has the new law changed? Well, they still can. The only difference is that they must now tell you. Whipee! The credit card companies don't need your permission, but they have to inform you they are about to gouge you. Doesn't this just make you want another credit card?

On behalf of college students everywhere who must experience this right of passage. To those who just have to join the rest of the impoverished world, here are some really good tips about your first credit card.

7 Things Your Mother Never Told You About Credit Cards

1. Go over your limit and you'll be eating dinner at the Y

2. Hookers now swipe cards instead of wallets

3. You could have bought a car then got cash for clunkers

4. You can live for a semester on Bush & Snickers

5. You can always jimmy a lock when you lose your keys

6. You can usually  buy your professor gas instead of going to class

7. You can buy anything that looks like a taco, even a taco

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Comments on After First Credit Card

November 10, 2010

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November 30, 2010

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December 1, 2010

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