What Are Your Thoughts On The New Credit Card Law Obama Signed?

[Lee]

Specifically when it comes to credit card companies issuing cards to persons under the age of 21?

Do you feel that limiting (or making it harder for 18-21 yr olds) availability of credit card usage to 21 year olds and over will have an adverse effect on porn sales, specifically when there are certain times of the year when it is obvious college kids are back in school and buying porn?

Do you think this August we're going to see a small decline in new sales as many college kids start off the new semester with no credit card?

Regards,

Lee

[coctronic]

HI Lee.

It will be interesting to see what happens with this.

I had been assuming they would place the age limit at 18 yrs.

They obviously chose not to do that. I guess they felt that younger
adults were getting into too much debt with the cards.

One possible good thing to come out of this for the adult industry,
is that this may revive the ability to rely on credit cards as an
age verification mechanism once again. Although I suppose someone
who is not of proper age could use their fathers card to sign up for
porn. I don't know if a pornsite could be held liable for that or not.

[Lee]

I can definitely see how they could have gotten to the age if like you said, they were concerned with young Americans getting in to debt at an early age.

Im not so sure we'd be able to rely on credits cards ever for age verification though, especially as most banks are now issuing debit cards when a checking account is open, i know my baby sister had her first debit card when she was 12 and i had my first debit card around the same age.

Regards,

Lee

[coctronic]

Oh my! You are right about the debit cards. I completly forgot about them.
I had a debit card for several years when I was not eliglble for a credit card.

Good thing too, or I wouldn't have had an easy to pay for my porno fix when I need it. :yeah:

[StunnerJesse]

Good question.

At first I was going to say "well, most college students have check cards."

It may not be that simple though...if they cannot get credit, then they are going to have to make their cash stretch further to pay their day-to-day living expenses.

Porn is not a necessary expense and one of the first things that can/will be cut when necessary. Especially with all of the free porn out there -- that just means you have to work a little harder to get off.

So, even with alternative payment methods available to them, they will not be able to as easily borrow money.

Even if their parents give them a credit card, I think they'd be less likely to charge porn out of fear of their parents reviewing the statements and asking about a charge from ccBill.

In other news, I wonder how some of the overpriced clothing lines are going to do? The A&F's of the world. If a 19-year-old has to pay cash for it, they may think twice about that $50-$100 hoodie.

[Squirt]

I liked the bill because I feel people should be allowed to carry loaded concealed weapons into national parks and wildlife refugees.

I also liked the bill because over the limit fees are now illegal, unless you asked in advance to go over the limit, and accept the fee. When I was a kid I was awful with money and had a Wells Fargo account. My account would go over the limit by a few dollars and I'd be charged a $35 fee. At one point the banks fees put my account a few cents over the limit, at which time they promptly charged a $35 over the limit fee :shit: it was then that I finally woke up and started down the road of perfect credit and financial wellness that I enjoy today :bunny: