I think the lack of blatant information, on the proper use of credit cards, how to begin building credit (without getting ripped off), and how to avoid getting into trouble with credit, for the younger(or older) folks, is pretty weak these days. The credit card companies have their poor propoganda (remember that silly commercial with the college kid charging a ton of stuff!!) A lot of younger folks i've talked to have no idea what credit is, its long term repercussions (in keeping it good), and how to start on the road without getting ripped off. They simply take all the offers they get, and many poor ones, roll with them, and i've seen many friends stumble on their butts when they are raped by charges, late fees, and poor customer service. Perhaps you can recommend an awesome faq, or be interested in writing one. The benefits of this board are great, but i don't think the faq's to the left, are very real world, in talk newbies might understand and updated with the newest information we learn daily. I spend a lot of time discussing things from experience and from the board here, over and over to friends and colleagues, im by no means an expert. Since this board is such a precious resource, perhaps we should organize the knowledge into a more permanent FAQ or something, rather than letting the information roll off into oblivion? Anyone interested?
RE: Information for beginners, Your concern is valid and I echo your opinion. Maybe we can let people know that credit card companies have developed FAQ pages that provide the basice terms on credit and all that is entailed with credit so that they can be informed consumers. American Express, Discover, and Citibank both have extensive info on their student web pages.
RE: Information for beginners, I agree completely! The internet didn't exist (thanks Al Gore!)when I got my first credit card, so I had no idea how important it is to maintain a good rating. I think when you're young, you really don't realize how long 7 years is. I'm definitely down for creating a FAQ for people new to credit.
