Should credit cards come with warning lables?

[jmjj215]

Re: Should credit cards come with warning lables?

Too bad it's peeled off, and not on the front and back

[gakline]

Re: Should credit cards come with warning labels?

I don't think CCs need a label. When there are too many labels, people ignore them. Just like car alarms. Besides everywhere you listen there's talk about the real estate bubble and credit card debt and then the next tv ad it about debt consolidation.

[wholelottacoffee]

Re: Should credit cards come with warning lables?

When we were in debt, I placed my credit card in a paper sleeve and wrote in big red letters on the outside "think of the pain" It meant everytime I went to use my credit card, I was reminded that using it for something I really didn't need was going to cause me a lot of pain in the future with debt. Once I started doing that, my spending on my credit card decreased immensely.

That is a fabulous idea! I am new to this discussion so pardon me if I am reiterating something that has already been said. But I agree with the point about how labels help to enact education. The question I wonder about is how to educate people, from the time they are very young so it sticks, about how long and potentially debillitating the burdens of debt are? Let's be honest -- the anti-drug campaigns of the Reagan era only stuck so far as it took many of us to reach high school and realize we could think for ourselves! I'm in danger of losing my point, so as far as measures to increase widespread understanding about the lure of a credit card, what would anyone propose?

[doglar]

Re: Should credit cards come with warning lables?

They do come with warning label - or say a warning pamphlet - that used to be in font 3 but now has their rates displayed in font 25 in tabular format for easy comparision...still the stuff I look for is in font 1 (after I see the 0% claim) - is there a transfer fee? and 99% of the time there is one....so off to the shredder you go.......