On Feb. 22, the Obama administration finally took steps to rein in predatory practices by banks and credit card companies. Did they go far enough? Probably not.
Tag Archives | credit cards
It looks like credit card companies are finally wising up to the fact that a lot of people are unable to pay back the debt they incur.
Last December I tried to rent a movie at a movie rental machine in the grocery store and it denied my ATM card.
Gone are the days ironing dollar bills along the edge of the machine or counting every coin in your pocket to get a refreshing drink from the vending machine, it now takes debit.
Credit card companies are everywhere using any means possible to grab students’ attention and urge them to purchase their buying power.
Some were appalled, some were not even surprised at the truth behind swindling credit card companies that prey on the weak and cause devastation for citizens alike was revealed in James D. Scurlock’s “Maxed Out.”
How would you like to have $1,000 to spend on anything you want? See, your mind is already thinking of what to buy. With most students preparing for the rest of their lives, why not start to build your credit?
Sixty-four percent of college students have credit cards and the majority of them received their credit card during the first year of college, said Daniel Drummond, spokesman for Your Credit Card Companies, a national organization of partnership for consumer credit information.