Showing this weekend at a movie theater near you: credit card advice
Filed under: Debt, Credit Cards
In the midst of all your shopping on Black Friday and in the aftermath, are you planning on taking in a movie? Before you watch the latest Twilight movie, or Ninja Assassin or whatever you think will put you in the holiday spirit, the government has some advice for you on how to use your credit card. The Federal Reserve announced Wednesday that it's sponsoring a 45-second ad that will appear before movie previews at 12 theaters in 12 cities from November 27 through December 3. The ad is a public service announcement, reminding people to use their credit cards wisely and to offer some advice on how to handle them.
If you don't go to the movies during that time or aren't in one of the theaters, and you'd like to see what you're missing, the ad can be viewed by clicking here.
The advice is extremely basic with suggestions like, "Pay on time," and to pay more than the required monthly minimum amount so you can get out of debt faster. Nothing you don't already know.
The commercial itself is also extremely dry, from a visual and audio standpoint -- some narration with some still photos. I tried to picture myself in the movies, and pausing in conversation with a friend or family member to pay attention to this ad, and imagining that is kind of a stretch. I guess the good thing is that whatever the taxpayers paid for this commercial, it couldn't have been much.
In any case, the reminder -- to be careful with your credit cards -- is a good one, and I can't fault the Fed for that. It's also being shown at the start of the holiday shopping season, and you can't fault them for that. In fact, over all, I think what they've done is commendable. But is this an ad that will likely have any serious impact on consumers' shopping behavior?
I wouldn't bet the farm on it.
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Reader Comments (Page 1 of 6)
11-28-2009 @ 8:08PM
anelisa said...
Why do we need the government to dictate on how to use our credit card when it has acquired huge debits of its own? This is not the way to acquire knowledge when we can learn by ourselves. We don't need to hear the lecture every time we go to the movie theater. It is isn't any of their business and we should know than to rely on Big Brother telling us what to do or not to do with our credit cards.
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12-01-2009 @ 11:18AM
Angie said...
Thank you!! That was my thought while reading this!
12-01-2009 @ 2:23PM
jrk678791 said...
I needed to cut all my expenses because my hours were cut back at work. One area that was an obvious choice to check out was auto insurance. The problem was that all the ads I saw claimed that each company was the cheapest. I found a web site, Http://tiny.cc/FreeQuickQuotes that quickly took my info and within a few minutes I had quotes from all the reliable insurance companies. It didn't cost me anything and now I'm saving over $60 a month for out 2 cars.
12-01-2009 @ 4:10PM
lauren said...
that's ridiculous, the main reason our government is in this financial mess is because of our excessive spending of money we don't have. it's a chain reaction, when they're expecting money from us, and don't receive it, then they have nothing to spend themselves. someone obviously needs to tell people how to use their credit cards because the privilege has been greatly abused. it's our spending that's forced us into this economical downfall, not just the government's, and it's ignorance like yours that prevents us from making any sort of improvement.
12-01-2009 @ 6:45PM
SmarterThanSome said...
The government isn't 'dictating' anything in the ad..They are simply giving a cautionary note BECAUSE of the financial woes the country is in. The ad isn't telling us that they are enacting legislation that will limit what we can use our credit cards to purchase. I think this ad is necessary, just think of the dumb-heads who used FEMA's Katrina Relief credit cards at liquor stores and strip clubs.
..I'm just sayin'!!!
12-01-2009 @ 7:15PM
CW said...
The FED is not a government agency. The FED is a collection of banks who controls the United States money supply. I am sure we, as citizens, fund this organization's ad but not thru taxes.
11-30-2009 @ 4:47AM
Billy said...
I think it's a great message that should of been included in the basic finances classes that High School Seniors never see. They teach political correctness, yet nothing about basic money management. I know that this is parents responsibility and I never believed that it should have to be taught in school, but lately I have been changing my thoughts about it.
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12-01-2009 @ 6:55AM
CSulli said...
Not that it has anything to do with the article, but since when do comments have anything to do with articles, don't movies have an effect on global warming? Perhaps banning movies would better serve the planet. Hmmm.......there's a thought......
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12-01-2009 @ 6:56AM
Tara said...
This country is drowning in credit card debt and a huge part of the problem is people not knowing how to manage their finances. Like buying houses they couldnt POSSIBLY afford!!!The gov is simply trying to stem the tide of idiots who use their credit cards like magic wands, And yes, they need to be told, people are idiots. Why do you think the banks are up to 29% now?? well, to make money, but also to scare the bejeezus out of people and make them pay up. If you dont nail them to the wall with terrifying interest rates theyll go on for years without settling their debt.
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12-01-2009 @ 10:49PM
alias said...
Tara, You should not talk about economics or the real estate debacle if you do not know what you are talking about. First, Most of 'those people' bought houses they COULD afford you moron. What they could NOT afford was they scams the mortgage brokers and lenders were running, the escalating interest rates that they could NOT refinance like they were told they COULD refinance, when the time came. Many people are carrying credit card debt they never carried before because they don't have jobs did that ever occur to you you impudent know it all brat? As for the cerdit card companies, the sky high interest rates of 28% and the 'settling of debts' again you are dead wrong. These credit card companies do NOT want people to settle debt. Not if they can keep you paying forever. They want these extra cash cow dollars to invest in the real estate market. That's right they are now out there investing in the real estate market benefiting from the misery they caused so many in America. *** Nimrodr,*** you are also an ill informed idiot, there is no government owned health bill. There are however lawmakers, (GOVERNMENT) who are wholly owned by the insurance companies you seem to be defending. Are you one of the people on the insurance company payrolls? Who pays for your insurance? If you would read or listen if you can not read you might see or hear how many programs of waste, or hands getting greased that would stop with insurance reform. On top of that people would stop getting cheated. Nimroder, I hope you get cancer so you can see how the system works.
The rest of you idiots go play on the freeway.
12-01-2009 @ 7:03AM
Laura said...
Clip should be shown to Congress and Obama before each session begins every day.
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12-01-2009 @ 12:28PM
John said...
Really! Getting advice from the government about spending is like asking Michael Moore how to lose weight.
12-01-2009 @ 7:22AM
Tony D. said...
Ok let's have basic money matters 101.
1. If you have $1:00 you can't spend $2:00
2. If you use your credit card, it's not free. You have to pay it back with interest.
3. Get your prioritys in order. You do not need every electronic devise on the market.
4. Fast food is not good for you. As treat once a week is ok.
5. If you have unprotected sex you might get preg. or get something you don't want.
6. Guys get you drunk for a reason.
7. If you dress like a tramp, you probably are
8. In the real world you can't do what you want. There are rules.
9. Your really not as hot as you think.
10. Education does not equal intelligence, you've proven that by your actions.
I forgot. If you use the ATM then you have to have money in the bank. KEEP TRACK OF YOUR WITHDRAWELS.
There that should take care of most of it. No have a great day and Ladys. keep your legs crossed.
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12-02-2009 @ 3:39AM
Jay said...
Where did you learn to spell?
12-01-2009 @ 6:03PM
Lisa said...
Laura, I couldn't agree with you more!!
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12-01-2009 @ 7:37AM
Bob said...
This is so funny. People cannot see the purpose behind the ad. No one is telling you how to use your credit cards. No one is dictating anything to you. And movies do not contribute to Global warming. This is ridiculous. Get a grip people. I agree that the govt should be the last to give advice about spending, but, a reminder from anyone to those that are in a shopping frenzy is well advised. Take the ad for what it is intended. Some have to be reminded to use their cards wisely. For those of you that take offense to this advice, evidently the advice is not meant for you, so just ignore it.
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12-01-2009 @ 7:52AM
Marlena said...
Well said Tara ,,,,,well said ...............
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12-01-2009 @ 7:54AM
Marlena said...
Right on Billy -Tony and Bob RIGHT ON !!!!!!!!!!!
; ))))))
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12-01-2009 @ 8:08AM
Helen said...
HOW MUCH MONEY WAS WASTED ON THAT AD? THE GOVERNMENT SHOULD CHARGE THE CREDIT CARD COMPANIES FOR THE AD. THE STUPID PEOPLE WHO GOT IN CREDIT CARD DEBT WILL NOT TAKE THE AD TO HEART. DUMB IS DUMB.
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12-02-2009 @ 10:17AM
EggieNogginhew said...
HELEN - How are credit card companies financially or morally responsible for anything the government *or* credit consumers do, wisely or unwisely? Get out of Bailout Mind. And turn off caps lock, it's located between [Left Shift] and [Tab].