Credit Card Solution

The short answer to the question “How old do I have to be to get a credit card?” is 21. However, like most things in life, there are exceptions to that rule. Those exceptions have important ramifications for parents of teenagers.

On February 22, 2010 the CARD Act of 2009 went into effect. The Act was designed in response to the credit crisis that, coupled with the collapse of the housing market, helped push the nation into a recession. Proponents of the CARD Act gained popular support for the Act by emphasizing that the Act was designed to protect consumers. The CARD Act seeks to limit powers and practices of credit issuing companies.

One consumer group specifically targeted by the CARD Act for more protection is that of young people. Restrictions placed on credit card issuers include raising the age from 18 (in most places) to 21 to qualify for credit cards and limiting the access credit card companies have to college campuses in order to recruit students to apply for cards. The

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Time to go shopping with the new Bloomingdale’s American Express Card. Providing Cardholders “Insider” rewards and services when shopping at Bloomingdale’s, along with new dining, travel and retail offers outside of Bloomingdale’s, the Bloomingdale’s American Express Card adds up to $25 reward certificates for rewards-earning Cardholders.

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Credit cards can be a financial blessing or the cause of years of debt, depending on how they’re used. Reaping maximum benefits from a credit card requires awareness and understanding of various card terms and conditions. The following ten tips for credit cardholders should help anyone avoid some of  the debt pitfalls often associated with irresponsible and misinformed credit card selection and usage.

1. Understand the Terms and Conditions

Most credit card companies will not advertise the negative aspects of their cards, which is why it is necessary to thoroughly examine the terms and conditions before applying for any card. Never apply for a card without first being sure about every sentence in the card contract. Even a small misunderstanding could lead to unnecessary fees and penalties, so don’t be afraid to ask questions if the terms and conditions are confusing.

2. Look

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The good people at Synovate Mail Monitor spend their working lives tracking and analysing the credit card offers that are mailed to consumers. It’s not a career that would suit everyone, and its hard to imagine that they get many gate-crashers at their Christmas parties, but they do valuable work.

For example, last month they revealed that, during the second quarter of 2010, U.S. households were in receipt of 640.3 million credit card offers, which was 83 percent up on the same time in 2009. During that 2010 quarter, Chase sent out four times as many solicitations as it did during the same period last year, and Citi tripled its mailings between the first and second quarters of this year.

Credit card companies that think you’re a business

Even if you’re retired or an employee, you may have found among the piles of junk mail you’ve received recently a couple of solicitations for business credit cards. That’s

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