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Credit Card Legislation

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Posted · Report post

Obama should realize that capitalism works best when there are no rules. Only the strong survive, baby!

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Posted · Report post

I wonder if that will affect people under 21 who have a card now. I made my son get one before he left home to go to college so he could learn to use it responsibly. He does. I did not want the first place he encounter credit card to be the vultures at clllege who suck kids in by giving them something free.

When he was applying for it, they almost made me co-sign (at the credit union), but in the end did not. He was pretty stable financially. He only asked for a $500 limit so that probably helped too. That's plenty for him.

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Posted · Report post

I wonder if that will affect people under 21 who have a card now. I made my son get one before he left home to go to college so he could learn to use it responsibly. He does. I did not want the first place he encounter credit card to be the vultures at clllege who suck kids in by giving them something free.

When he was applying for it, they almost made me co-sign (at the credit union), but in the end did not. He was pretty stable financially. He only asked for a $500 limit so that probably helped too. That's plenty for him.

If he has a job he should be fine. Lots of people under 21 prob will get dumped and there credit will go down with the new laws.

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