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69 Comments
- tehWyman, on 08/19/2009, -0/+64Is this the same kid that is on the no-fly list?
- ROFLance, on 10/10/2007, -3/+37My first thought was the kid has Jewish parents.
- skoops, on 10/10/2007, -3/+35WTF - This video is currently unavailable in your area
- redrock34, on 10/10/2007, -1/+26Just imagine the interest rates for a 9 year old.
- pu-z, on 10/10/2007, -1/+16I got that one too. Ah, I guess we're not good enough to watch the same vids as the USAians. I can live with that.
- lhnz, on 10/10/2007, -0/+11Did you not get the joke on purpose?
- airwalkery2k, on 10/10/2007, -2/+10Credit card companies don't check crap.
I remember when I was 10 or so; my dad owned a company and I was messing around with his junk mail. I guess i filled something out for a prize and sure enough, a few months later I had business lines of credit sent to me in the mail. The type you could rip out and use after activating.
Later that night, my parents gave a talk about credit cards. - cbdgr, on 10/10/2007, -0/+8Someones been using the computer unsupervised i bet
- netkid91, on 10/10/2007, -2/+8It was a joke Arena, get a life.
- SLYK, on 10/10/2007, -2/+8RTFA *****. Hell, read the description. He's a victim of identity theft.
- autobotguy, on 10/10/2007, -0/+5My dad's second wife pulled this ***** after their divorce getting credit cards in my sisters name b/c she had already declared bankruptcy a couple times. I found it quite appalling.
- smartmlp, on 10/10/2007, -1/+6Unless the debt is in your childs name, the debt can not be passed down. When you die, all your assets will be sold off until it pays the mortgage. if it doesn't pay it, then the debt will be discarded, if it does then what ever is left will be given to who ever is in your will. This is how it works in the US at least.
- cha2e, on 10/10/2007, -0/+5That reminds of an episode of The Daily Show I saw the other day...
Expert: "Then when you run out of credit on that card, move onto the next!"
John: "So.. basically, you're saying accumulate mass amounts of debt??"
Expert: "EXACTLY. What the credit card companies fail to realize is... my mortality!!! I just keep spending until... I DIE! What are they gonna do? Sue my kids?! HA!"
John: "Umm... actually, yeah... that's EXACTLY what they'll do..."
Expert "Well... its a good thing I have no kids..... that are subject to the American judicial system!!" - inspecality, on 10/10/2007, -0/+5Sounds like you're on the right track to financial success!
- thugbear2005, on 10/10/2007, -1/+5oy vey
- Lane, on 10/10/2007, -0/+4your credit scores based upon how long you have had a card, hell keep it charge something once in a while and let the boy have a decades worth of credit built up at 19
- Slovenian6474, on 10/10/2007, -0/+4I'm not 100% sure, but i don't believe minors can be held to a contract. That's why you usually have to be over 18 to get a credit card, enter in sweepstakes, and anything else that requires a contract.
- WoollyMittens, on 10/10/2007, -0/+4I am forbidden to view the video "in my area". Globalization my ass... can someone rip it and make it available to the rest of the world?
- inactive, on 10/10/2007, -0/+4Correct me if I'm wrong, but isn't there some kind of law stating that if you default on a credit card balance before you're 18, there's nothing the credit card company can do? They can't force you to pay the debt. So if you can get your kid a card at 9 years old, and he racks up like 40k in debt, they can't force him to pay it off.
Granted it may or may not show up on your credit report for the rest of your life (until paid off), but I'm sure there are ways to work the system in your favor from 9 years old.. any experts around that can explain this as I've always been curious and would like to know before starting a family. For uhh, educational purposes of course. - netkid91, on 10/10/2007, -0/+3You're on digg, are you surprised by this fact?
- demonicume, on 10/10/2007, -0/+3i hate it that whenever a parent describes their child - especially the middle class and lower parents - they have to toss in a reference to their kids' intelligence. 'being as smart as he is.' most times they dont have any proof other than his ability to get into advanced trouble (mischief) and good grades on classwork designed for the lowest common denominator.
if the kid is so smart, he prolly this it himself. - aquadoctorbob, on 10/10/2007, -1/+4I don't see it... maybe I'm not pedantic enough.
- ArenaRon, on 10/10/2007, -1/+4it was a joke - RELAX
- RocketGib, on 10/10/2007, -1/+3$18k credit line? geez... I can't even get that...
- buddamus, on 10/10/2007, -0/+2I cant watch the Vid in the link, is there a link i can use.
stupid country selection - uzair21, on 10/10/2007, -0/+2Well, i can't even watch the video. It says it is not available in your area.
- Elliuotatar, on 10/10/2007, -0/+2I needed to get some credit cards recently so I read up on them. Let me share my wisdom:
Look for websites that list low interest credit cards. There's several good ones out there. The lowest interst rates you'll find are around 9%. Highest are around 27%. Around 12%-15% seems pretty common and easy to get unless you have a bad score from not paying your bills all the time.
Don't apply for too many cards at once. Every time they check your credit, that goes on your credit report for a few months and hurts your credit score. Apply for cards you're likely to get. Some websites list how good of credit you need to get a particular card.
Cards with a low APR or a high line of credit will require proof of income. If you can't apply this don't bother applying for them.
Your credit rating is affected by how much credit you have, and how much of it you have used. So it is actually good to have lots and lots of credit cards and lots of available credit... So long as you haven't maxed them all out. Paying your bills late will count against your credit score. And if you're not registered to vote then some of the best cards won't be available to you because they won't be able to confirm your address.
Getting a car loan can help your credit, but beware, if you have someone cosign then if they're the primary borrower it will show up on your credit report only as a debt and say you pay $0 a month. That probably won't help your credit any, and if they're late paying it may actually hurt you, though I'm not sure about this. - ginjuro, on 10/10/2007, -0/+2The most disgusting part of this story is that the credit card company just laughed. Make no mistake: they are NOT our friends.
- yamyogurt, on 10/10/2007, -0/+2Lucy, you got some splanin' to do!
- Alegoo92, on 10/10/2007, -3/+5Ah.. I can't wait til my identity gets stolen.
- KUKBAHLAM, on 10/10/2007, -0/+1The term "Identity Theft" was invented to change who is responsible for fraud. The credit industry does not want to be responsible for a loose system and they needed a way to blame it on their customers. You are not a victim of "identity theft," you are a victim of an industry who loaned money in your name and wants you to be responsible for it.
- foolfromhell, on 10/10/2007, -0/+1On 2 cards...
You can apply for like 10 cards and get 1.8k on each and get 18k total.
Of course, they would be high interest. But why would an ID theft dude care about interest? - Shenanigans, on 10/10/2007, -0/+1This probably isn't in the video section because nobody watches the video section. The same thing will happen with a picture section. Be careful what you wish for, Diggers!
- kd1s, on 10/10/2007, -0/+1A 9 year old is deemed unable to understand contract law. Therefore they cannot enter into a contract.
A credit card agreement is a contract. If the issuer sent him the cards and he used them, the worst that might happen is a fraud charge. But the contract is null and void anyhow so the charge would be defeated. I say the kid and his mom should have themselves a little party. - dasdef, on 10/10/2007, -0/+1ouch, im on digg too.
- TheKricket, on 10/10/2007, -0/+1look, ive seen some pretty nasty comments on digg and, to a certain degree, i've come to expect them - people will think what they think - people will voice their opinions - people will be just plain mean
but the beastie boys? that's just uncalled for... - Brasky, on 10/10/2007, -0/+1Even better!
http://www.digg.com/offbeat_news/ExxonMobil_Mails_Customer_2_000_Credit_Cards - datastorageguy, on 10/10/2007, -0/+1It's based on that yes, but there are many other factors. The most important, of course, is paying your bills on time. Secondly, it's how close to the limit you have on your cards. Usually maintaining 20% of your credit limit is a good thing. Thirdly, it is your total amount of debt. Credit card debt is naturally the worst kind to have.
- escapedspecimen, on 10/10/2007, -0/+1"...but the DIY crowd can fight identity theft with a visit to the FTC."
What? What does this mean?
DITTO - Elliuotatar, on 10/10/2007, -0/+1I'm 30 and I had built NO credit and I was able to get one card at 12% arp with a $3000 limit, and another for $2000 at a 14% apr, (9% apr was the lowest I've been able to find online, so 12% isn't too shabby... most card offers that come in the mail unrequested are like 24%) and this was right after getting a Macy's card and an Autozone card, and a $15,000 loan for a car. The $2K card was from the same bank that gave me the auto loan. I did get turned down for four cards I applied for online after getting the first of those two main cards, because I'd applied for too many cards too quickly, but that didn't stop one of them from still offering me a Discover card at an APR of around 20%. I turned them down telling them I had plenty of credit and at a lowe APR and the person who called me acted like I was crazy and needed it to build my credit. Pfft!
Did I mention I'm also currently unemployed? Ha! - BrokenVisage, on 10/10/2007, -0/+1I want to become a 9-Year-Old Shoemaker!
- davidsmero, on 10/10/2007, -0/+1How do you get $18,000 worth of credit for 2 cards as a 9 year old? When I had no credit starting out I only had a $2,000 credit limit. Something isn't right here.
- schism61, on 10/10/2007, -0/+0Yea , I remember when i was 15 me and my friends would sign up to those cd clubs b/c they sent u the first 10 cds free then they sent u a bill . We all did it and got free cds ... never showed up on my credit report
- microview2007, on 10/10/2007, -1/+1I love the mothers remarks, "as smart as he is he could of called, activated it and ruined his credit" Oh come on, he's only 9. Just think when he reaches 18 and can legally have credit, his slate will be clean.
- xinmyname, on 10/10/2007, -0/+0Life imitates art, eh Santos?
http://en.wikipedia.org/wiki/The_Canine_Mutiny - Slovenian6474, on 10/10/2007, -2/+2This comment is a direct result of digg's new system and my P.O.S. 8 yr old dell at work. Digg down.
- ekravchenko, on 10/10/2007, -0/+0The funny thing is that it was probably the mother that activated the credit card for her son and then took out the 18k.
- sarlok, on 10/10/2007, -0/+0Yeah, I was thinking the same thing. And what she said about the kid ruining his credit - by the time he's old enough to actually enter a binding contract any bad credit scores from 9 years old will be gone. Heck, he should take out cash advances and invest it.
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