I subscribe to the Consumers Union newsletter, and I learned about this organization’s “Danger of Debt” Contest.
From the newsletter: “We know you’re furious about the recent wave of credit card interest rate hikes – especially since it appears the banks did them to beat a new February law that will crack down on their abusive tactics.
What better way to channel your anger than to capture it in your own drawing, cartoon, photograph or other image – and possibly win $1,000! That should help pay off those bills!
Consumers Union’s “Dangers of Debt” contest is returning again this year to highlight unfair credit and lending tactics, and you have until Jan. 31 to submit your entry. Put your passion to work and help us spread the word about bringing some common sense reforms to credit and lending practices in the United States.”
Here is the link to the contest and its details: http://wildfireapp.com/website/6/contests/15558
Showing posts with label Consumer Reports. Show all posts
Showing posts with label Consumer Reports. Show all posts
Wednesday, January 27, 2010
Thursday, September 3, 2009
Credit Cards Targeting Students this Fall
According to Consumers Union, the nonprofit publisher of Consumer Reports, credit card companies are targeting college students this fall before reform enacted by Congress can take place.
From the website, "Make sure your student and others you know have the facts about easy credit. The average undergrad carries a $3,170 balance, and can face interest rates up to 35 percent if they miss a payment. A mistake made at 18 can stay on their credit report until they are 25 hurting their chances at renting an apartment or buying a car."
Go back and read that paragraph. Let the information sink in. One missed payment can result in interest rates up to 35 percent.
I have known some students who have had to quit school in order to pay off their credit cards.
Here's the kicker: if they fell behind on payments, then that credit report could keep them from getting higher paying jobs. Employers routinely pull credit reports to see if people will be responsible employees.
Check out the article, other resources, and the "Money Mom Care Package" at this website:
http://cu.convio.net/site/PageNavigator/cell_ToCatchACreditor
From the website, "Make sure your student and others you know have the facts about easy credit. The average undergrad carries a $3,170 balance, and can face interest rates up to 35 percent if they miss a payment. A mistake made at 18 can stay on their credit report until they are 25 hurting their chances at renting an apartment or buying a car."
Go back and read that paragraph. Let the information sink in. One missed payment can result in interest rates up to 35 percent.
I have known some students who have had to quit school in order to pay off their credit cards.
Here's the kicker: if they fell behind on payments, then that credit report could keep them from getting higher paying jobs. Employers routinely pull credit reports to see if people will be responsible employees.
Check out the article, other resources, and the "Money Mom Care Package" at this website:
http://cu.convio.net/site/PageNavigator/cell_ToCatchACreditor
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