Should a minor with a job be able to apply for a card
2007-08-24 15:08:23 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
No, adults in this country who should obey the laws and legally bind to contracts don't even pay their bills. I don't think minors should get credit cards because if they don't pay, credit card company would lose money and the rest of us will have to pay for it.
2007-08-24 20:42:05 · answer #1 · answered by Summer 3 · 1⤊ 0⤋
Everyone here has been saying how credit cards are so horribly evil, but there are many reasons why someone would want a credit card. For example, it'll be much easier for someone to get a low interest rate on a car loan or mortgage if they build up their credit rating, and the easiest way to do this is to get a credit card, make a purchase or two on it each month, then pay off the balance at the end of the month. Credit cards just get a bad reputation because so many people abuse them. However, to everyone who said minors wanting a credit card should just get a secondary card under their parents' account, that's a bad idea, because their parents are going to have thousands of dollars on their credit limit. But for someone who has no credit history, if they get a credit card, the credit limit will be under $1000. That would make it more difficult for an irresponsible person to drown themselves in debt.
2016-05-17 08:00:00 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Nope. Dana is right.
If a minor has a job and a checking account, a debit card would be OK. Or a pre-paid credit card might be OK. The danger is getting into debt at an early age.
The reason credit card companies won't issue credit cards to minors it that the credit card agreement is a contract, and minors can not legally sign and be bound by a contract.
Doc
Doc
2007-08-24 15:18:38 · answer #3 · answered by Doc Hudson 7 · 2⤊ 0⤋
Since a minor can't sign a legal contract so couldn't be held responsible for paying the bill, no they shouldn't be allowed to have credit cards.
2007-08-24 15:47:48 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
no i think even 18 is too young
i was given EVERY credit card i applied for and all with high credit limits (at least $500-$1000 and then they kept giving me more $) and at 18 i was still not responsible to realize what i was doing and ended up filing for bancruptcy at the age of 23
i realize that there are responsible 18 year olds out there and not everyone is like me but i think it needs to be regulated a little bit better if that would even be possible (i doubt it) but it seems like all fun and games while your spending what seems to be "free" money and then the bills pour in and you are overwhelmed with what happened--in my case i was able to pay all of them on time but then then i moved out of my parents house and life isnt as easy as it seems--teens need to realize this when they are putting themselves into debt for things that are not that important
2007-08-24 15:19:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Nope... Half of the adults if not more cannot afford to pay credit card bills and they have a job.
2007-08-24 15:14:15 · answer #6 · answered by Dana 3 · 2⤊ 0⤋
not at all the younger you are the more likely to put your self in debt that you cant get out of... credit cards are traps and are not pleasant. they may seem great for people but go ahead gain all that interest and miss some payments you will see its not fun
2007-08-24 15:16:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no, theyre parents are responsible for them until they are 18, they dont have the real knowledge of how everything works and the control to spend wisely.
2007-08-24 15:16:29 · answer #8 · answered by deedee 4 · 0⤊ 0⤋
yes...I've had a credit card ever since I was 15 only it was in my moms name and I never had any problems with paying or anything else.
2007-08-24 15:17:09 · answer #9 · answered by Amber K 3 · 0⤊ 2⤋
nope, neither should adults, most have so many problems being able to pay them off
2007-08-24 15:23:21 · answer #10 · answered by Anonymous · 0⤊ 0⤋