Guaranteed Bad Credit Loan

There is alot written about credit card debt and young people getting into the credit game. Of course they will soon be learning how  to fix credit if they are not careful. The recent administration, though, did all they could to restrict the credit card companies as they canvassed future debtors on college campuses across America. Do you think it will help? Do you think college student are immune to the pitfalls of credit card debt or do you believe that they will soon be the next customer looking for ways to increase my credit score?

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 also betting on this fact because they finally caved into the clause mandated by Congress that they must now include in every statement send to account holders. This law, now required of all credit card statements has to be  Written Plain English. 

Since the 1950’s when credit cards were created to the present- 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 our spending or their inability to gouge us? Well, they still can and even though we are not currently spending, we will once the economy improves. The only difference is that they must now tell you in advance Edit this text  . 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 Your First Credit Card

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