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A few years ago, these types of low dollar collections made headlines when a number of people began receiving collections for old, unpaid library fines that had been turned over to collections and reported in their credit reports. Yes, even minor past-due debts can turn into collections, regardless of how minor the amount.
These cards can be useful for some people—a very select group of people who cannot get a bank account. There are clearly a lot of people out there who fit into that category—just not as many as Orman would have us believe.
The new guidelines aim to balance collectors’ need to try to collect from the estate—if there is one—with protecting relatives or other survivors from being pressured to pay debts for which they aren’t legally responsible.
A growing number of states have passed laws legalizing marijuana, and more states are currently considering legalization bills of their own. If you live in one of the 16 states that already allows marijuana to be purchased for medicinal use, you can charge it according to most major credit card issuers’ policies. If you’re a Mastercard holder, however, the fact that you’ve swiped weed expenses in the past doesn’t guarantee you’ll be able to do so in the future.
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