Credit Cards
The thing about credit cards Mr. Woods says is that they don’t tell the kids what
interest means and what happens to their credit report and how that affects them later in
life. They just give them the card and let them spend away and they have no concern for
the kid or for the parents at all. It’s just like taking advantage of someone, if they don’t
know how bad it …
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…worry, but if they did know they might not get
the card. Mr. Woods would like to see credit card companies involve the parents more in
the process and to also give out information and let the kids know exactly what they are
getting into. Send out brochures send out sample bills of what their bill will look like so
they can see what the interest does and explain everything so they can understand it.
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