Saturday, April 23, 2005

Many teens carrying credit, debit cards -- and carrying balances

Turning 18 I got a checking account and I applied for a credit card. I got the checking and saving account but I did not get the credit card. A few months later I have two cards a visa and an american express card and I feel like I am in control of my spending. I am on the cards by myself with no co-signers like my parents. In this article I found out that kids as young as 13 are getting credit cards in their name with their parents backing them up. I think this is crazy and should not be done. Kids do not know how credit can ruin there life.

1 comment:

Morgan K said...

I agree. I guess I always thought there was an age min in order to obtain a credit card. Personally, I don't think I'll ever get a credit card. I've seen friends ruin their credit long before even graduating college. Being a finance and accounting major, I want to make sure my credit stays in good condition in order to better back my standings. But at 13, young teens aren't worried about what their credit standing will be 20 years from now.