I’m so proud of my eldest. She got a credit card in the mail yesterday. I called her as she is visiting friends and told her. I read her the annual fee which was 199 the first year, 99 every year after and would be put on the card 2 months after she activated it. I read her the interest rate which was 25 percent and I recommended she not activate it. Told her I got an email from Dad that he got there safe and said goodbye. She called me half an hour later and told me to cut up the card, now, “before I get tempted”. I complied rather quickly and told her I was proud of her and that she was acting in a wiser manner than I would have/did at her age. I am just so darn happy and proud of her. Sure it is a horrid rate and huge annual fee. Nevertheless it had a credit line of 6,500 dollars. That is very tempting when you are 19. She did great! I think that it has helped that her Dad and I are paying off our credit cards prior to his military retirement in the fall. We have been very open about how much we are having to pay off and how we can’t even remember why/what we used them for.
Since she is not activating it then it doesn’t show up anywhere right? By not activating it she is declining it correct? I’m not sure if she needs to do anything else. I will read the papers again. She did not apply for it, she has applied for a couple of store card and got declined but this just showed up. It was a real usable one. Now it is a unusable set of plactic pieces that are gone with the trash.
Cross posted to my journal.
Edit: Okay I went back and read the papers. It is a card for a company called CCA that can only be used with them for their stuff. It said this when I read it further down. “The enclosed card is not a credit card but instead a membercard.” When you join you can ask for a merchant card and get cash. I’ll still have her check her credit record. She is moving out soon and should learn how to do that anyway. Still proud of her though for being wise enough to turn it down thinking it was a real credit card.
