eBillme Blog - Shop Secure. Live Debt Free. » truth in lending act http://www.ebillme.com/blog Fresh advice on Money Management, Online Shopping, Gifting and more from eBillme Thu, 09 Feb 2012 15:38:18 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Ring the Wedding Bellshttp://www.ebillme.com/blog/the-scoop/ring-the-wedding-bells/ http://www.ebillme.com/blog/the-scoop/ring-the-wedding-bells/#comments Wed, 27 May 2009 20:00:02 +0000 Lesley Purtell http://www.ebillme.com/blog/?p=393 Times have changed, no doubt the passing of the Truth in Lending Act, a.k.a The Credit Card Bill will impact the way consumers will access and use credit.

When you go to a store near you, you walk up to the teller, hand off the new blender you like, get it scanned and pay. When you pay, you the customer make a choice, you can pay with credit instruments, or you can pay with cash or cash alternatives. The credit card bill will absolutely have some impact on how people will pay in general, but unlike brick and mortar location, online merchants have by in large depended on credit instruments to process payments. This has several implications especially to those retailers serving the under 21 market.

The credit card bill has reduced the ability of those younger than 21 to borrow, with some exceptions

  1. You may still get credit if your parents sign off
  2. You will need to take a course before you qualify for credit
  3. Show proof that you have stable income and the ability to repay what you borrow.
  4. OR, You can get Married

If you are younger than 21 and are not ready to walk down the isle just for the privelige of shopping (especially shopping online), you can turn to cash payment alternatives such as “eBillme Teen” to buy online with cash.

]]> http://www.ebillme.com/blog/the-scoop/ring-the-wedding-bells/feed/ 0