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?


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.