Emily's list: 'Poor' musician edition

Happy Friday! Today is the birthday of several music greats; Joan Baez, Jimmy Page, Dave Matthews, and even AJ McLean of the Backstreet Boys (OK, so maybe AJ isn't quite up there with the rest). Today is also the anniversary of the death of the composer Johann Strauss. This week's credit card roundup of posts from around the personal finance blogosphere celebrates famous musicians and their questionable experiences with credit cards and debt. 

1. Everyday Finance explains what your FICO score is and why it matters. Don't feel bad if yours isn't great yet, though; even famous musicians with tons of money don't always have good credit scores.

2. Personal Finance Reviews has noticed the same thing as Get Rich Slowly and explains what to do when your card is closed due to inactivity.

3. So you're a tightwad and avoid debt like the plague, but your spouse or significant other is a big shopper and loves plastic. How can you compromise and ensure money and debt don't ruin your relationship? Wise Money Matters offers several tips on how to talk with your partner about money. As long as you can communicate better than R&B legends and now exes (and reality TV train wrecks) Bobby Brown and Whitney Houston.

4. Trent at The Simple Dollar lists seven major financial mistakes he made while in college and reflects on what he should have done differently. One of the worst and most common mistakes he made? Getting a credit card and then using it irresponsibly, racking up thousands of dollars of unnecessary debt. Not everyone has money smarts when they're younger; in 1998, singer Toni Braxton filed for bankruptcy (she was $3.8 million in the hole). Now that she's older and wiser, she's back on top of her finances.

5. Credit Karma reminds readers that identity theft is a real problem, and can even be committed by those close to you, so always be cautious about giving out your financial information. Even singers Patti LaBelle, Will Smith, and Jennifer Lopez have fallen victim to identity theft.

6. MoneyNing compares learning to manage your finances responsibly to going through potty training. It takes work to recognize that there is an alternative method and to retrain yourself! Especially when it comes to spending money and living in debt. It appears that Miley Cyrus is still going through this potty training phase with her credit card.

7. Get Out of Debt helps a reader understand her options if her credit card company refuses to lower her payment. There are several different types of negotiation plans. Rap superstar MC Hammer should have used some of these methods before he got more than $13 million dollars in debt and had to go to bankruptcy court.

8. Consumerism Commentary offers three tips for saving up and getting through the recession. There's no need to go into debt when you can track your spending and work on a budget. Perhaps famous singer Elton John should work on this; he has sunk into major debt due to his extravagant lifestyle, including owning and maintaining a handful of million-dollar homes.

9. Your Money Relationship is appalled that his credit card company gave him an ultimatum: pay off your debt by a certain date or get a 10 percent interest rate increase. In the music industry, many of the big players have an American Express Centurion card (aka black card), which always requires the balance to be paid at the end of the month. For regular consumers, however, paying off your balance in full overnight isn't always doable. That's why a low interest rate is so important!