Sorting Through Mixed Messages
Watch out – credit card companies and advertisers in general are targeting young people. They do this because young people have a large amount of disposable income (a.k.a. money available to spend). Though your wallet might contradict that statement, it’s true. In general, teens don't have the bills or mortgage payments many adults have – leaving you with more “disposable income” than most adults. Young people hold a lot of buying power. Advertisers know that, and target it.
TV commercials and advertisers persuade us how to use our money and many young people fall into the trap of consumerism. But scripture suggests that we should – and could – think differently about God’s gift of money. In Matthew 6:21, it says “For where your treasure is, there your heart will be also.” And, in Hebrews 13:5, “Keep your lives free from the love of money and be content with what you have….”
So, how do you see the reach of advertisers in what’s happening around you? How do you try and make choices that are right for you, instead of what the advertisers think is right for you?
Budget!
I've found that the best way to keep myself in check is to keep a list of all of my bills and a list of all of my income. Bills include everything from utilities to what I try to put in savings. I make sure that income stays higher than my bills. That way I know that I don't NEED credit cards--I just keep one for emergencies and the occasional online purchase.
The other day I made a deposit, and the bank teller told me that I was approved for a "Super Plus Member Platinum Bonus Throw You Into Debt Faster Than You Can Blink Card." I told her I wasn't interested, but she persisted with, "You didn't even let me tell you about it!" I politely told her that I didn't need to know about it, I had one credit card, and it was fine. "Oh, but you can use this card to pay off the debt on your current card!" I was dumbfounded to the point of being speechless.
It really is easy to fall into these traps, but knowing that I don't need to be in them really helps me to stay out of them.
Prove it
Not too long ago, you had to prove you had a good credit history to even be concidered for a credit card. My dad said that he had to build credit though his car loan and first mortgage before the bank let him get a credit card. That's definatly not the case today. Just like mpicchi's example, they bank was basically begging mpicchi to open a credit card account.
Mpicchi, isn't it interesting how the bank was quick to assume you already had credit card debt?
Shredder Overload
It's amazing that everyone beggs you to open accounts...I put at least two offers that come in the mail through my shredder every day.
Two resources to end pre-approved JUNK mail...
For those wishing (as I have) to never receive another pre-screened, pre-approved, pre-junk mailing from a credit company again, here are two resources that can help.
Call 1-888-5-OPTOUT. This is an automated system that allows you to opt out of being eligible for pre-screening (meaning that the credit companies won't even know you are able to have credit) by all of the credit reporting bureaus (Experian, etc.). Select option 2, and then option 2 again, and your junk mail should get alot lighter. Again, saving money by helping to save the environment (which is why I'm putting this under the Money forum as well!).
Online - go to www.optoutprescreen.com
This is very similar to the phone option, but possibly quicker, and it saves you a phone call. I've done this - it works. I used to receive up to 5 offers a day from credit companies. Now, since I've done this, I haven't received a SINGLE offer! No joke.
Simply put - if you want a credit card, apply for one (either online or by calling the company you wish to deal with). BUT - if you are tired of throwiing away countless mailings and having to shred them because they contain personal information - daily - just opt-out!