Credit Card Reprehensibility Number 2

[Lucid08]

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@Anonymous wrote:

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@Lucid08 wrote:

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@fused wrote:

What "other" ways do you suggest?

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I'd like to see a national referendum that would require high schools to implement some sort of "financial responsibility" course that students are required to complete prior to graduation. I've been in the military and have been stationed all over the country, and it is saddening to see how many kids graduate without the ability to even balance a check book, let alone manage something like a credit card. Our schools operate under the public trust concept, and we owe it to ourselves to make sure that our kids are getting properly educated about matters of personal finance and the proper use of credit.

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This is a fantatic idea which we recently discussed in detail on another thread. However, it still doesn't do a thing to build your credit. The problem here is that NO credit is just about as bad as BAD credit. So, even though the OP objects to seeing people who have had past credit problems trying to apply for and obtain credit cards, it is positively the only way for them to build up a positive credit history.

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Reducing the number of people who develope credit problems, due to a lack of proper knowledge, would go a long way in preventing BK's the "first time", and would benefit not just the economy, but those of us who choose to manage our credit and finances responsibly. I fully support the essence of the OP's thought process in this, as irresponsible credit usage affects everyone across the board.

[jmbfl]

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@Lucid08 wrote:

Reducing the number of people who develope credit problems, due to a lack of proper knowledge, would go a long way in preventing BK's the "first time", and would benefit not just the economy, but those of us who choose to manage our credit and finances responsibly. I fully support the essence of the OP's thought process in this, as irresponsible credit usage affects everyone across the board.

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EQUIFAX - 8/15/2008 - 643
TRANSUNION - 5/31/2008 - 620
EXPERIAN - 6/05/2008 - 609

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Just out of curiosity, which of the four categories do you fit into?

[jmbfl]

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@Scout1965 wrote:

ddd,

(yawn)

What exactly is the purpose of this thread?

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The purpose of this thread is to exhort us all to proactively advise credit responsibiity. Proactive advice = preaching. Since none of us is likely to be bestowed with a microphone and a radio transmitter so we can follow in the footsteps of the great credit evangelist DR, perhaps we should each anticipate the delivery of a soapbox this week from which vantage we may seek to better "proactively advise."

Personally, I prefer the Jack Webb approach: "Just the facts, ma'am."

[wmarat]

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@Lucid08 wrote:

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@fused wrote:

What "other" ways do you suggest?

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I'd like to see a national referendum that would require high schools to implement some sort of "financial responsibility" course that students are required to complete prior to graduation. I've been in the military and have been stationed all over the country, and it is saddening to see how many kids graduate without the ability to even balance a check book, let alone manage something like a credit card. Our schools operate under the public trust concept, and we owe it to ourselves to make sure that our kids are getting properly educated about matters of personal finance and the proper use of credit.

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I am confused, who supposed to teach kids, school or paprents?

IMHO, while it is nice, if school provides some credit related courses, the main responsibility for teaching kids belongs to parents.

If I do not teach my kids how to handle credit and money, nobody will.

Besides school may adopt wrong (IMO) approaches to credit like DR's or OP's approach.

My opinion only, no offence meant.

[wmarat]

Good point.

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@Scout1965 wrote:

ddd,

(yawn)

What exactly is the purpose of this thread?

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[MidnightVoice]

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Lucid08 wrote:

Reducing the number of people who develope credit problems, due to a lack of proper knowledge, would go a long way in preventing BK's the "first time", and would benefit not just the economy,

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Given that more than half of the BKs in the US are due primarily to Medical Bills from people who have medical insurance, I can think of better ways 

[Anonymous]

who is this person ,and what gives them the right to preach fiscal responsibility? so what you and your wife have a philosophy that does not dictate you applying for credit, why are you here?? I mean what is your agenda?? are you here to learn or preach If it is the latter of the two then I suggest that you become a credit counselor or take your act on the road...

[jmbfl]

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@wmarat wrote:

Besides school may adopt wrong (IMO) approaches to credit like DR's or OP's approach.

My opinion only, no offence meant.

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None meant, but I am sure plenty will be taken!

[wmarat]

As MV has pointed out the problem is much more complicated and invoves not only education but also health system, job stability, cultural believes, economical enviroment etc.

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@MidnightVoice wrote:

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@Lucid08 wrote:

Reducing the number of people who develope credit problems, due to a lack of proper knowledge, would go a long way in preventing BK's the "first time", and would benefit not just the economy,

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Given that more than half of the BKs in the US are due primarily to Medical Bills from people who have medical insurance, I can think of better ways 

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[wmarat]

So be it.

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@jmbfl wrote:

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@wmarat wrote:

Besides school may adopt wrong (IMO) approaches to credit like DR's or OP's approach.

My opinion only, no offence meant.

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None meant, but I am sure plenty will be taken!

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