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Credit Card Act of 2009 is frustrating for me

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Re: Credit Card Act of 2009 is frustrating for me


@Anonymous wrote:

Remember too that there are a lot of different things that can be placed on a credit card.  If you have a cell phone you can almost certainly make an occasional small payment to your provider on your Discover.  Your university will very likely allow you to make tuition payments using your card.  In both cases (cell phone, tuitiuon) the payments could be partial payments -- perhaps as little as $10.

 

Nobody is as Scrooge like as myself in watching every penny, so I hearily applaud your desire to emphasize savings over spending.   BUT... there's also something to occasionally buying something small purely for its sensory pleasure.  An ice cream cone, a movie in a theater, a deck of cards, etc.  And surely there must be SOME things that aren't covered by your room and board stipend.  I imagine you do have to buy a tube of toothpaste occasionally or a bar of soap or some deodorant or socks or whatever.

 

Again, great that you are emphasizing savings.  But you should be able to find occasional spending needs that can be placed on the card.  Doesn't have to be every month but it should be often enough to ensure that Discover won't cancel your card.


My family covers all our data with a family plan. The tuition requires 2% more payment if credit/debit card was used. I'd literally need citidouble cash to break even there. My mom used to work at my college, so the school has a benefit that let's me not pay tuition. Ice cream cones are available in the cafeteria and in the case of toothpaste and tootherbrushes, my dad bought like a wholeset of like 50 when they were on sale. There's a secret shower place I know of in my school that provides soap and shampoo. Usually I try not to spend when I can avoid it.

 

When I buy things, I usually buy items that last long term. I buy clothes, chessboard, checkersboard, etc. I plan on buying a used car, hunting gun, gaming pc, and a really expensive house. I'm also willing to by expensive food if it means it's healthier.

 

Since the economy is in recovery phase, I was thinking about buying something right now that would increase in price once the economy gets good then sell it off for a profit.

 

I'm the kind of person who would enjoy knowing I saved $30 more than having a wonderful $30 meal. I think my endorphin reward center complex just rewards saving over buying. I get really excited when i save money so I can ssure you I am enjoying my savings. Although the bad thing is my habits tend to come off as unusual to most.








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Message 41 of 42
Anonymous
Not applicable

Re: Credit Card Act of 2009 is frustrating for me

Hey, I too am an 18 year old college student, but I don't think that the Card Act was something bad for students. The Card Act as mentioned above was meant to protect students from screwing up their credit at an early age. I mean, think about it, if students don't have any income and apply for a credit card, odds are they won't be able to pay their bills. You can still get a credit card if you have some income. On my first credit app with Wells Fargo I reported $8,500 from university grants, $3,000 from allowances from my parents, and $3,000 from my summer job. My parents didn't want to cosign me because they wanted me to be responsible for my own actions.  I was approved for their cashback college card with a $1,200 limit. I kept my utilaization low and paid in full each month. This was in July of 2016 and about a week ago I applied for the Discover it and was approved with a $1,000 SL. Also, I know that people under 21 are not supposed to recieve any pre-quals, but I was just checking out Amex's prequal site and was prequalified for the bce. My point is that 1. the Card Act was good for the majority of students and 2. it is not extremely difficult to get decent credit cards, even if you don't have a huge income. 

Message 42 of 42
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