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50 Fun Facts About Credit Cards

Frequent Contributor

50 Fun Facts About Credit Cards

Thanks to myFICO, my new "hobby" is getting my financial life in order. So I've been perusing the net in search of useful sites concerning personal finance.  In particular, I'm looking for credit card info, such as the best cards for cash back, gas/travel and other specific purposes.

 

On the lighter side, I came across a "fun" article about the history of credit. It's easy to get caught up and frustrated in the credit chase. Sometimes, one needs to step back, take a deep breath and view things from a different perspective. Hopefully, this article is the break you need.  Maybe after, you'll tackle your credit tasks with renewed vigor, just like me Smiley Happy

 

Article: 50 Fun Facts About Credit Cards

 

Overall, the site is pretty nice and refreshing, with a lot of useful and insightful articles.  Click on the "Credit Cards" top navigation link for more articles that are relevant to this topic.

 

Site: Bargaineering - engineering a richer life

 

PS  If you have any useful personal finance sites, I'd love to hear about them.



06/30/2017 - EX 807 (Credit Scorecard EX FICO® Score 8, range 300-850)
07/20/2017 - TU 819 (Discover TU FICO® Score 8, range 300-850)
07/25/2017 - EQ 842 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 12/13/2015
Message 1 of 7
6 REPLIES
Super Contributor

Re: 50 Fun Facts About Credit Cards

Interesting...
Message 2 of 7
Established Contributor

Re: 50 Fun Facts About Credit Cards

I can't help but point out a mistake I saw right in the beginning. Smiley Very Happy

 


American Express started off as a shipping company in 1850, shipping
products across the United States and capitalizing on the limited reach
and slow speed of the United States Postal Service...They began selling money
orders and traveler’s checks in 1882 and issued its first credit card in 1958.

 

In 1958 Amex issued their first charge card. There were no credit cards until BofA's BankAmericard.

 

Message 3 of 7
Frequent Contributor

Re: 50 Fun Facts About Credit Cards

#38 Minors, those under the age of 18, are not obligated to pay back any charges to their credit cards (unless a parent co-signs, but then its the parent who is on the hook) because they are not allowed to enter into a binding contract.

 

 

 

So, if I have a collection on my report from a CC that was started when I was 17, I can dispute it and have it removed?


Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 726 TU
Goal Score: 760 EQ 760 TU


My Credit Repair Journal
Message 4 of 7
Frequent Contributor

Re: 50 Fun Facts About Credit Cards


PayingTheBills wrote:

#38 Minors, those under the age of 18, are not obligated to pay back any charges to their credit cards (unless a parent co-signs, but then its the parent who is on the hook) because they are not allowed to enter into a binding contract.

 

 

 

So, if I have a collection on my report from a CC that was started when I was 17, I can dispute it and have it removed?


bump. Smiley Happy


Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 726 TU
Goal Score: 760 EQ 760 TU


My Credit Repair Journal
Message 5 of 7
Moderator Emeritus

Re: 50 Fun Facts About Credit Cards


PayingTheBills wrote:

PayingTheBills wrote:

#38 Minors, those under the age of 18, are not obligated to pay back any charges to their credit cards (unless a parent co-signs, but then its the parent who is on the hook) because they are not allowed to enter into a binding contract.

 

 

 

So, if I have a collection on my report from a CC that was started when I was 17, I can dispute it and have it removed?


bump. Smiley Happy


 

This is a good question for the folks over on Rebuilding.

 

Smiley Happy

~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Message 6 of 7
Frequent Contributor

Re: 50 Fun Facts About Credit Cards

So I took your advice and started a thread over at Rebuilding Your Credit

 

Smiley Happy

Message Edited by PayingTheBills on 03-01-2009 12:44 PM

Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 726 TU
Goal Score: 760 EQ 760 TU


My Credit Repair Journal
Message 7 of 7