Friday, December 29, 2006

Topic to discuss - teens with credit

Here's a question for all my readers - should teens (under 18) be allowed to have credit cards? Do they have the financial wherewithal to manage credit responsibly?

Talk amongst yourselves..............

1 comment:

Anonymous said...

I would say no.....as children under the age of eighteen do not have the legal capacity to enter into a legally binding contract. So if they neglect on payments the credit card company has no recourse. On the other hand if the parents co-sign they are liable. Personally I would not co-sign for my kids until they have proven they are capable of handling money......and at 16 or 17 years old........I don't think so.

JM