Getting Teens to Understand the Money Behind Credit Cards
Article from Fox Business:
If most teens are anxious to grow up, then getting their own credit card, or at least some version of payment plastic, may be the brass ring of adulthood. And like a lot of other things these days, from makeup to cellphones, teens are getting their hands on prepaid cards and debit cards earlier and earlier — sometimes before they even hit middle school. We know they want plastic, but are they ready for it?
Maybe not. According to a 2011 Charles Schwab survey, while 42 percent of teens already have their own debit or ATM card, only 35 percent of teens feel like they know how to manage a credit card. Even fewer understand how credit card interest and fees work. One in four U.S. teens thought a debit card was for borrowing money from the bank, not spending their own.
Reality check: Sooner or later, a credit card is in your kid’s future. (The Fox Business
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Police warn about pre-paid credit card scam
Article from The Advocate:
A new scam is being reported to police, one in which people are told they won money or a car that they can claim if they purchase a Green Dot prepaid credit card, a Baton Rouge police spokesman said.
The person is told to put a specific amount of money on the card and give the caller the card number.
“The victim is told that the winnings will be delivered to their home,” Cpl. L’Jean McKneely said. “This never happens.”
McKneely said police have received several complaints from people over the past several months about this type of scam.
He said the calls mostly come from the 876 area code in Jamaica, which is known as a hotbed for phone scams and fraud.
“The callers are sophisticated con artists that prey on the elderly,” McKneely said, adding about 30,000 calls are made from Jamaica each year to scam Americans.
Anyone who is a victim of this fraud is asked to call Baton Rouge police’s Financial Crimes Division at (225) 389-3871.
…………………continues on The Advocate
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