Tips on Credit Card Experiences
Author: shortstop7
Posted: Sun Apr 09, 2006 12:26 pm
Post subject: Is it true that experience is the best teacher?
How do you scare an 18 yr old college freshman on the truth about credit card and debt?
She's about to fall into the same trap i did when i was a sophomore!
When she started college last year, she got a Bank of America student visa. Off course she kept it to herself and i didnt find out until i went home for the holidays and happened to be in her room and found a $432 bill that was already 30 days past due! It was all from dumb stores at the mall! (This brat ran up $215 at victorias secret!) Her min pay (plus late fees) was $156! Off course she has no income and no way to pay this, so i scolded her and sat her down to talk to her and paid it.
But i feel my talk went in one ear and out the other. Everytime i'd give her an example of how i f'cked up my credit as a sophomore, she goes "well look at you now! You are doing good. Good job, 2 degrees, blah blah blah. so i'll be fine, like you".She thinks things just fixed themselves. LMAO. She doesnt realize between getting bad debt in 2001 till today, thats been 4 yrs of H.ELL and suffering with being turned down on EVERYTHING, even school loans!
She just called me now to ask me if i can pay her Citibank card for her cause she went over her $500 limit! I didnt even know she had a second card!
Citibank gives me shivers cause they are the cause of my collection and civil judgement!
I was screaming on top of my lungs at her, but i got online and paid it.
How can i get her to stop?
I cant tell the 'rents cause then i'll betray her trust.
I really wish schools had a credit 101 course! I wish someone schooled me on credit when i was a freshman! cards are always shoved down our throats and you just dont know that much as a 17/18 yr old!
Shes my sister, but i cant keep bailing her out!
What do you suggest i do????
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Author: rapjunkie
Posted: Sun Apr 09, 2006 1:53 pm
Post subject: Tips on Credit Card Experiences
How about the condition for you bailing her out is that she has to give you the card?
Author: shortstop7
Posted: Sun Apr 09, 2006 2:23 pm
Post subject: Tips on Credit Card Experiences
rapjunkie wrote:
How about the condition for you bailing her out is that she has to give you the card?
she'll probably just go get another one
Author: fitz75
Posted: Sun Apr 09, 2006 2:55 pm
Post subject: Tips on Credit Card Experiences
Experience is the best teacher. Better to let her screw up with cards that have a 500 limit than cards with a 5000 one.
Don't bail her out next time until the card is about to go to collections. All the lates won't hurt her too bad, but may be enough to stop her from getting more cards for a few years.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sun Apr 09, 2006 12:26 pm
Post subject: Is it true that experience is the best teacher?
How do you scare an 18 yr old college freshman on the truth about credit card and debt?
She's about to fall into the same trap i did when i was a sophomore!
When she started college last year, she got a Bank of America student visa. Off course she kept it to herself and i didnt find out until i went home for the holidays and happened to be in her room and found a $432 bill that was already 30 days past due! It was all from dumb stores at the mall! (This brat ran up $215 at victorias secret!) Her min pay (plus late fees) was $156! Off course she has no income and no way to pay this, so i scolded her and sat her down to talk to her and paid it.
But i feel my talk went in one ear and out the other. Everytime i'd give her an example of how i f'cked up my credit as a sophomore, she goes "well look at you now! You are doing good. Good job, 2 degrees, blah blah blah. so i'll be fine, like you".She thinks things just fixed themselves. LMAO. She doesnt realize between getting bad debt in 2001 till today, thats been 4 yrs of H.ELL and suffering with being turned down on EVERYTHING, even school loans!
She just called me now to ask me if i can pay her Citibank card for her cause she went over her $500 limit! I didnt even know she had a second card!
Citibank gives me shivers cause they are the cause of my collection and civil judgement!
I was screaming on top of my lungs at her, but i got online and paid it.
How can i get her to stop?
I cant tell the 'rents cause then i'll betray her trust.
I really wish schools had a credit 101 course! I wish someone schooled me on credit when i was a freshman! cards are always shoved down our throats and you just dont know that much as a 17/18 yr old!
Shes my sister, but i cant keep bailing her out!
What do you suggest i do????
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: rapjunkie
Posted: Sun Apr 09, 2006 1:53 pm
Post subject: Tips on Credit Card Experiences
How about the condition for you bailing her out is that she has to give you the card?
Author: shortstop7
Posted: Sun Apr 09, 2006 2:23 pm
Post subject: Tips on Credit Card Experiences
rapjunkie wrote:
How about the condition for you bailing her out is that she has to give you the card?
she'll probably just go get another one
Author: fitz75
Posted: Sun Apr 09, 2006 2:55 pm
Post subject: Tips on Credit Card Experiences
Experience is the best teacher. Better to let her screw up with cards that have a 500 limit than cards with a 5000 one.
Don't bail her out next time until the card is about to go to collections. All the lates won't hurt her too bad, but may be enough to stop her from getting more cards for a few years.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 5:55 PM
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