Risky Business

How Does The Credit Card Bill Affect Young People?

By Matthew Bandyk

Posted: June 2, 2009

Over at Capital Commerce, I muse about the credit card bill Obama just signed into law.

jimmy

i run a small business in my spare time. with this law i can't get a credit card in my business name. i cant get a loan or any financing. its kind of a joke. thank you obama.

350,000 in sales, 60k in profit, and my discover personal gives me 1500$ limit, and if i call and ask for a business card, they say well you should be fine, oh wait our system just denies anyone under 21...

But ya thanks, i guess i get a tax break this season too, since i am clearly not responsible enough to handle money. oh wait, no i don't. well i make all my money off imports anyway, good luck america, clearly competition and business are less important to protecting everyone from evil corporations

j of VA @ Oct 15, 2009 15:16:23 PM

jimmy

i run a small business in my spare time. with this law i can't get a credit card in my business name. i cant get a loan or any financing. its kind of a joke. thank you obama.

350,000 in sales, 60k in profit, and my discover personal gives me 1500$ limit, and if i call and ask for a business card, they say well you should be fine, oh wait our system just denies anyone under 21...

But ya thanks, i guess i get a tax break this season too, since i am clearly not responsible enough to handle money. oh wait, no i don't. well i make all my money off imports anyway, good luck america, clearly competition and business are less important to protecting everyone from evil corporations

j of VA @ Oct 15, 2009 15:16:22 PM

Sallie Mae

My unemployeed 18 year old son attended a college in Pittsburgh, Pa. He received money from the FASFA, but needed additional funds to attend the college. My application was denied, but his was accepted. I am employeed. He was at the college three months, but left because of dissatifaction with the school. I hope all people be careful with credit to attend college. I earned a degree after 9 years and get paid $20,000 less than I should. College is great for expanding the mind and being more accepting of differences, but even with a degree a person will come out of school entry level. Being in dept is not the answer. When a person is in dept, they become a slave to someone else. That is not for me.

Gwendolyn D. Patterson of PA @ Aug 16, 2009 07:55:22 AM

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Risky Business

Risky Business

Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.

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