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Originally posted by Phage
reply to post by Iwinder
Maybe. Taking $15 out of my pocket never slowed me down as a kid but thinking about what was (or wasn't) going to be in my pocket next week did. I don't see the difference if you know the card isn't a money tree or if you're using cash.
It is much easier on the brain to swipe plastic compared to actually taking out the $15.00 you busted your ass for cutting grass in hot weather....
I tell you it is quite alarming when you hand over 3 stacks of 100's at 50 per stack knowing you earned it and not charging it.
If you're talking about credit. If you have not developed money management skills.
Cash hurts and plastic does not hurt until you get the bill.
Credit is good. I find it very useful. I have no creditors at my door.
I suppose credit is good then
No it isn't. It's money management. Budgeting.
I have no idea how you can support credit training and that is just what this is.
Originally posted by Iwinder
As I said earlier it is an obvious training tool for later in life when you graduate to the "real plastic"
Originally posted by Phage
reply to post by DevilsApprentice
Good thing that some countries see this sort of marketing for what is and legislate accordingly.
Really. Some countries prevent parents from getting prepaid credit cards for their kids?
Sounds really, sort of, intrusive to me.
We call this marketing to children and legislation will ensure that it never makes it to the Print/Audio/visual media.
I don't know. Why would he?
ETA , does bleeber mention how much his fee was.
Why would money be taken if they lose their job? Default on what?
If, they lose their job, and default, the money is taken out of the deposit, not a bill sent to parents.
While these cards are sometimes referred to as prepaid credit cards or prepaid debit cards, they are really just prepaid cards. Because you can only spend the money you have already added to the card, prepaid cards do not represent a loan like a credit card. As a result, prepaid cards generally do not help you build your credit.
Originally posted by Unity_99
reply to post by Phage
The bag would be the debt. Prepaid means, they have to put the money in, usually starting at say 300, then it goes up to say 1200. And that is their money. If, they lose their job, and default, the money is taken out of the deposit, not a bill sent to parents. That is the most responsible way for an older teen, with a job, to actually gain credit, which they actually will need in our society for home payments one day, if they're good with money.