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Tuesday, January 15, 2008

Mail Call: Would the unemployed 16 year old please stand up

"Discover"ing Debt 101
Holy beans! This is great! My son, who is currently unemployed and while employed probably cleared a whopping $4k last year got his first application for a Discover card today!

"Only a select group receives this special 0%APR." Really? Would that be the Minor group or the Unemployed Group? Up to a $25,000 limit. You know, I'm almost curious to see what kind of limit he would get on a card by only working extreme part time. What do you think?

Standard APR of 9.99% - HEY!! that's better than some of my cards! Doesn't it figure. The kid can't even make his own bed and he deserves a better rate than I do? Or could it be that they were planning on his defaulting because THAT rate is 28.99% Yeah, that's what I thought too.

Can you honestly see how this could play out? A 16 year old boy who wants a CAR so badly now has HOW MUCH MONEY at his disposal? Eeeegads! I think I'm keeping this one under wraps!!

What's next?

1 comments:

louise said...

wow! thats dreadful to think they are targeting kids that young! they don't seem to have any values at all these companies. I wonder how many other kids get them and end up in debt.