Credit Card Blog

Kids do the darnedest things.

For example, six-year-old Bennett Christiansen of Aurora, Illinois, managed to get his own credit card from Bank of America.

Amy Christiansen, the child’s mother, said that all of her family members had been receiving offers of credit in the mail - including Bennett. For a bit of fun, she allowed Bennett to fill out and send in one of the applications addressed to him.

In a totally unexpected development, Bennett soon received a credit card with his name on it, even though he’d listed his birth date as 2002 and his income as $0. The child’s card carried a $600 credit limit.

Bank of America insists that they do not target or give credit to minors, but Mrs. Christiansen was understandably concerned about the ease with which her child obtained his first credit card. She’d better stay on her toes; Bennett’s 3-year-old sibling has also received offers of credit.

When a father of a Texas 13-year-old forgot to get his son a birthday present, the boy took matters into his own hands and order an additional card from his dad’s credit card company.  Apparently, if you know the answers to the security questions, anyone can get an additional card sent out in their name.

The teenager took a few buddies out on the town and charged $30,000 on his dad’s credit card account.  They capped off the evening in a motel room, where they ordered two female escorts, at just $1,000 a night (each).  The girls thought their clients appeared “young”, and so instead of their typical job duties, they played “Halo” on the Xbox with the boys. 

The call girls were released without charge, and the boy was sentenced to three years community service and convicted of fraud.  According to an article on Money.co.uk, when asked what the boy aspires to be when he grows up?  A politician, of course.

In the spirit of the Halloween season, we’ve dredged up information on one card that should be avoided at all costs. Consumerist.Com recognizes the Continental Finance MasterCard as the worst credit card in the world.

How did this card earn such a dubious honor? It was designed for high-risk card holders with bankruptcies and poor credit histories, but those things alone do not a scary card make.

The terror is in the details: a $300 credit limit that costs $247 to set up. Plus a $10 monthly account maintenance fee. Plus 20% interest on all purchases. Plus a $4 charge whenever you make an online payment. Card holders do get automatic upgrades to their credit limit when they qualify for such, but the upgrades come in $100 increments, each tagged with a $25 fee.

There are so many better alternatives. For some helpful advice, check out our articles on credit cards for consumers with poor or no credit. There are some scary cards out there in Low Credit Land; when confronted by them, make information your weapon of choice.

This is a nice little “diddy” of a song, found it while browsing around youtube. It basically describes the problem many people have with credit cards. It’s not that credit cards themselves are all that bad, it’s that most people don’t really know how to use them responsibly. We get caught up in the “gotta have it” and spend more than we should because let’s face it, it’s just so much easier to swipe the card than to worry about setting aside cash to save for the latest “gotta have it” item. I wonder how many of us would actually save up for that pair of shoes or new phone if we had to save for it BEFORE we bought it?

Click Here to watch video

We might actually benefit more from credit card rewards programs and benefits if we were able to use the cards more responsibly. So I hope you enjoy this video and that it inspires you to use your credit cards more appropriately!

The Barbie doll has been around forever it seems- and while she’s evolved over the years and updated her fashion with all of the latest trends- she’s become a Doctor, an Astronaut, a Lawyer, a Vet… owns a hot pink porsche and of course- the dream house- no one really stopped to think how Barbie paid for all her wonderful clothes and toys! That is, until now. The Cool Shoppin’ Barbie now comes with a must-have accessory- the purse, containing her very own credit card, complete with the MasterCard logo.

What’s Barbie going to buy with her credit card? Anything her little heart desires of course, since Mattel and MasterCard probably haven’t figured out how to mail Barbie a statement demanding payment each month! In order to give Barbie a place to shop, you can of course purchase the Barbie Boutique- complete with a cash register that opens and plays a “Credit Approved!” recording.

Remember the classic Monopoly game from Parker Brothers? Counting out bills and getting all nervous when you only had the small bills left and you still had to make it around past your opponents hotel properties before you’d make any money! Well, those days are just about over. Monopoly is issuing all new versions of the famous board game, and this time- there will be none of the multi-colored play money. Instead, players each receive a plastic Visa card, and the game includes a “credit card reader” to help you get your paycheck direct deposited and to make payments when you land on someone else’s property or want to purchase your own.

When you go out with friends, do you always end up in an argument over who pays the bill? Or do you spend almost half an hour trying to divide who owes what for what? By playing Credit Card Roulette, you don’t have to worry about these burdensome situations. Imagine leaving the decision to chance?

Credit Card Roulette is a game where each diner in a party puts their credit card into a hat, bowl or other container, and at the end of the meal, the waiter or waitress selects a card. The owner of the card is certainly safe, but then the hat/bowl/whatever gets passed around the table, each guest removing a card until the last card is left – the (un) lucky cardholder gets to foot the bill for the whole table.

The stakes are high for everyone at the table (who may get nervous when others order steaks). A meal consisting of drinks, entrees, dessert, appetizers and a tip could max out a credit card, or even exceed a cardholder’s available limit.

A variation of the game, where a card is drawn after each course of the meal, adds fuel to the fire as those relieved of the risk of paying for all may be tempted to go for the premium wine or the “richest” desserts.

There are more variations where the diners are unaware that the game will be played at the end, and where those that are unwilling to take the risk pay their own bill plus a penalty fee. Of course, the more people that are eating, the lower your chances of “winning.” This game amongst a party of three is a lot less daunting of a bill, but a much higher chance of getting caught.

Another type of credit card roulette refers to transferring credit card balances from higher APR cards to lower APR, and is far less risky!

We all know you should destroy your old credit cards that are no longer being used. Scissors and shredders get the job done, but how much fun is that? Almost some! There’s got to be more entertaining ways to destroy your card, so I’ve searched YouTube to bring you the top 5 ways to dispose of your credit cards. Kids, don’t try this at home.

5. Microwave it
This may not be the most effective means but still a fun method of destroying your credit card. I really expected it to spark and crack rather than melt.

4. Blow it up
Amateurs and explosives just don’t go together, however they do make for some great comedy.
3. Blend it
I don’t think anyone will be getting those card numbers.
2. Mow it
It’s hard to tell from the shaky footage, but I think we all know how this turns out.
1. Shoot it
Just fast forward trough the first five minutes and enjoy the carnage.
I was rather disapointed with what I didn’t find, so I also present my top 5 list of ways of disposing of a credit card I’d like to see.

5. Burn it with a laser.
4. Disolve it in acid.
3. Shred it with an angle grinder
2. Place it on the train tracks like a penny.
1. Cryogenically freeze it and bash it with a hammer.