The credit card offer was from the Virginia Society of Certified Public Accountants, and the language of the letter was of the “as a member of VSCPA, you are entitled…” variety. (We don’t live in Virginia, FWIW.)
I thought it was funny, but then I wondered if I should be concerned about his name and address having gotten on their lists. Presumably, anyone with an SSN can be a victim of identity fraud.
Should I pursue it?
Applications are sent out en mass by CC companies because he bought something, or joined an assoc that tells them he might be good bet. It could be anything. Assumedly he would not make the cut once he reveals his age, job status and income, unless he’s making big bucks for a 17 year old.
Unless they are targeting heavy consumers of video games, I am at loss to figure out that that would have been!
Bingo! As a gamer, I can promise that gaming companies share their info just like any other company.
I wouldn’t worry about it, but I would take this time to remind your son, if he needs reminding, not to take every offer that comes by.
Just for laughs, google your son’s name and see if you can find a CPA in Virginia with the same name.
I just got one the other day that said, “As a member of the <state> State Bar…” (I don’t remember which state, but it definitely wasn’t mine). I just chucked it in the shred bin after the spouse and I made fun of it a bit. :).
My son got the same kind of offers at 17. Could be from anywhere. We didn’t allow him to apply (obviously) but I’d like to think that he really wasn’t “pre-approved” since he had no income.
You owe it to yourself and your son to watch the film Maxed Out with him.
There is a fascinating but scary segment that details how credit card companies prey on young adults, sometimes with heartbreaking outcomes.
mmm
It’s just junk mail. He’s on some list that gets sold and cross referenced by a computer algorithm to some other lists and bingo - junk mail!
Read the deal terms of the card just out of curiosity. I would imagine a card being marketed to accountants would have to have a pretty attractive low interest rate to be competitive given that demographic. If it does not then some scam flags might be appropriate.
What is the APR for balances on the card?
“Term of the VSCPA Visa Rewards card: Purchase APR: 0% intro rate until August 2013; 11.9%, 15.9%, 19.9% or 21.9% variable thereafter.”
ZERO PERCENT!!!
WOW!!! I mean, WOW!!!
Sign up today…!!!
What could possibly go wrong? 
And yes, you should be care enough to be concerned*------this is a great chance to sit down with your kid, and explain to him what interest is, etc…When he rolls his eyes, show him that the envelope was addressed to him, personally.Maybe then he’ll see that it’s relevant to his life.
Pick a concrete example of something expensive that he wants to buy right now(laptop?, etc), and show him what it would cost with 21.9% interest.
*I don’t mean caring about the dumb card…I mean being a good, caring parent who makes use of a good educational moment.
I’d calm down. Credit card companies are scum and send out offers to anybody with a name.
And once they start coming - you’ll get at least one a week until the sun dies out.
I would not be too sure of that. I got a credit card when I was 18 years old, in collge, zero income, from an application I half-filled out to get a free gift. Some companies appear to give out cards freely.
I used to work for a bank that issued credit cards. One day, a call came in from a good ole boy about an offer we’d sent to “Chester”. He was pretty bemused that we would pre-approve Chester because Chester was his horse.
The CARD Act changed alot of things. 18-20 yr olds cannot get credit cards anymore without without either having a cosigner or written proof of idenpendent ability to pay. Under 18s would definalty require a cosigner.
I’m glad to hear that, alphaboi867, thanks for the education.
Can a 17-yer-old enter into a legal contract? Seems to me he could max out the card and walk away from it with no legal consequences. Screw the banks.
In theory he could if he was emancipated (due to marriage, military service, or court order), but in practice I highly doubt any bank would actually give him a credit card. He’d be able to open bank accounts without much difficulty proved he had the appropriate documention.