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Navigating Financial Autonomy
Everyone comes from varying financial education backgrounds that place barriers on their financial stability and security. In my personal experience, I come from a low-income background where personal finances were an everyday stressor. When I entered my Freshman year of college, I was thrust into navigating university and personal finances without any guidance from family, friends, or school staff. Suddenly, I had to understand my financial aid package, create a savings plan, get my first bank account, and more. I quickly became overwhelmed by the mixed information and the financial jargon I did not understand. As a result, my experience was very isolating. I joined TSI to provide economic justice to individuals with similar experiences to me and to bridge the glaring information gap. Every individual deserves to know that they are not alone in their financial struggles and receive a comprehensive financial education, creating economic autonomy. It's not just knowledge but empowerment that is needed.
- Isabella
Credit Cards: Pitfalls and Predatory Traps
Credit cards are a common financial tool that allow users to borrow funds up to a certain limit, known as a line of credit. However, while their perks are widely promoted, there’s a lesser-known, much riskier side to credit cards that deserves attention. While teaching a financial literacy class for a women’s group at Thrive DC, I learned from our clients about a credit card offer that seemed too good to be true, and it was. Several participants had received unsolicited envelopes in the mail claiming they were pre-approved and could start spending immediately, with unusually high credit limits. Upon some further research, I discovered these weren’t legitimate beginner accounts from reputable banks like Chase or Capital One. Instead, they were predatory financial products designed to exploit the financially vulnerable.
How to Protect Yourself:
While these situations can be intimidating, arming ourselves with the right knowledge is key to protecting against exploitation.
Red flags to watch for:
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You receive a credit card in the mail without applying for it
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Promises of “no credit check" or “guaranteed approval”
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High upfront fees or unclear terms
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The issuer of the card has negative reviews online or the name is not familiar
I received one in the mail! What should I do?
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Do NOT activate or use the card
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Research the issuer on trusted websites like NerdWallet
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Check for complaints with the Consumer Financial Protection Bureau (CFPB) or FTC
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Report scams to the FTC at reportfraud.ftc.gov
About Us
We're a passionate nonprofit education organization led by dedicated students from American University. Our mission is to empower marginalized communities in the D.C. area by providing them with essential financial literacy tools. Through our efforts, we aim to impart knowledge and instill the power for individuals to take control of their finances. Our dream is to foster lasting change and build a brighter, more inclusive future where everyone has the confidence and capability to shape their own financial destinies.
Arjun Mishra and Haider Zaidi represented TSI at the Bethesda Green Entrepreneur Showcase
Our Vision
At The Surety Initiative, we believe that financial literacy and economic opportunity is a essential human right, regardless of one's background. Our mission is to provide our communities with accessible and impactful knowledge and resources to help individuals gain greater control of their future.
By creating trust and leveraging strong community partnerships, we hope to empower communities to pursue better opportunities and establish a strong economic base.
At The Surety Initiative, we believe that everyone deserves access to essential financial education, regardless of their background. Our mission is to raise awareness about the critical need for free financial literacy lessons in the DMV area. We strive to empower individuals who may not have the resources to learn about managing their finances, budgeting, and making informed financial decisions. Join us in our commitment to creating a financially savvy community where everyone is prepared for their financial future!
Our Work
Our Experience
Our Team
