“New credit card laws may save the day for college bound teens” by Patti Handy, snippet from her blog

Patti says, “Credit cards can be a man’s (and woman’s) best friend…or worst enemy. They can save the day when an unexpected expense occurs, a flat tire at 2:00 am blows, or a medical emergency hits you from behind. In the event of an amazing sale at your favorite store, this little piece of plastic can become your biggest nightmare.

For college bound teens, credit card companies have, in years past, made it very easy to obtain credit cards. According to a recent Sallie Mae study, college students carried an average balance of $3,173 on their credit cards last year, a record high since the first analysis in 1998. A whopping 82 percent revolved a balance each month.
On May 22, President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 into law. Among many changes, one in particular is geared towards those college kids.

Effective February 2010, consumers under age 21…”

Read the rest of Patti’s article on Patti Handy’s blog at:

This entry was posted in Kids And Money, Kids Money Management and tagged , , . Bookmark the permalink.

One Response to “New credit card laws may save the day for college bound teens” by Patti Handy, snippet from her blog

  1. Grace Ruskin says:

    Hi !

    My name is Grace Ruskin. While searching for good financial article i found your website http://teachingchildrenaboutmoney.com/blog . I read some of the articles of your site and I really found them worth reading. The quality of your content is excellent. Well, i am a professional writer as well as I am a member of some financial communities. I would like to contribute something for your site if you’ll give me the permission. I can give you an original guest post and I assure you that it will be published only in your site. I would be glad to come up with something unique and interesting to contribute to your site or write about any ideas you may have for a guest post.

    Waiting for your positive reply.

Leave a Reply to Grace Ruskin Cancel reply

Your email address will not be published. Required fields are marked *