Does the new rules for credit card companys affect me being able to buy online

[betagame]

Originally Posted by angelabauer

You will need to read the information of each credit card provider. Bottom line is that at 15 you cannot sign a legal contract anywhere in the USA. In most jurisdictions within the USA people of 18 and older can sign legal contracts, but cannot purchase alcohol. Right now it is uncertain if the new Federal regulations mean "legal adult" or actually 21 and older. My clients are waiting for clarification. At this moment there is a mass of confusion.

I am talking about prepaid Visa cards that you put an amount on first before spending.

Originally Posted by link

My credit card just came in the mail. I'm probably just going to use it for gas because I don't buy anything else. I got it just so I could build up some credit.

Is it your prepaid card or a real card?

[Raccoon]

Um, prepaid cards can be real cards: you just carry a positive balance - a most handy way to tote significant amounts across borders (hypothetically speaking.) Not more than the legal limit: heaven forbid. BTW the tax people are wise to this sort of merrymaking, and it is a good way to attract their attention. Of course that may be your point: to instigate an audit just so you can wave your receipts, tax assessments, and other paperwork at their noses, replete with copies of their tax codes , statutes, and regulations, neatly hilighted, indexed, and with cross-references.

This is a form of trolling, waving red flags, with fine print that says "I am an attention whore; please put me under a microscope. The tax people will share your sense of humour, which says they are your playthings; they happily join in such fun.

Now Peachy (damn Peachy) has made me lose sleep over "just how do I use prepaid cards to assume debts." 7 ways instantly occur to me (you buy liability, or some form of uncertain investment) but these will be withheld for now. These are games fraught with peril; not all parties might see these games as lulz-worthy.

[DannyJ]

This is interesting to read about. I thought that the only changes being made were to sudden interest rate hikes without proper notification to the card holder.

[deependh200]

Going back to address one of the initial concerns, many banks now include and ATM card that's tied to your checking account when you open an account with them that is usually Visa or MC backed, so you can use it anywhere that accepts Visa or MC. As far as I know, the new law has nothing against 18 yo's and bank accounts.

[link]

Originally Posted by betagame

Is it your prepaid card or a real card?

It's real. It's a Visa card with an $800 monthly spending limit. I've never spent $800 in one month ever befor in my life, so I'm really not worried about that.

[Spirit]

Why not get a debit card? You don't need to be 21, it's your money so you're in control and they're accepted anywhere credit cards are.