No Credit Cards For Kids

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No Credit Cards For Kids

Submitted by: anonymous 04/03/2009 10:48 AM

Credit cards are readily available on college campuses. Our kids never had them as we were adamant with our guide lines of no credit cards until you have a full time job.

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Comments:

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While I agree that young people can let credit card debt get out of control, (just like many adults), I'm not convinced that denying them the card is the solution. I believe a better approach is to get the card and ask the credit company to put severe limits on it. When the card maxes out at say, $200, the lesson can be learned quickly enough that it needs to be paid off completely at the end of each month to be of much use during the following billing period.

Posted by Bulldog6 on April 05, 2009 11:37 PM

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