2007-11-23 01:26:22 · 10 answers · asked by katia g 1 in Business & Finance ➔ Personal Finance
well i'm a teen, and as much as i would LOVE
to have a credit card, i know that i would never
be able to make responsible decisions with it.
when you're a teenager, you still don't really
have a concept about the value of money. you
will be tempted to spend, spend, spend, and not
think about all the bills racking up at the end
of the month. then the kid's parents will have to
pay all the bills because the kid can't afford it.
having a credit card would be nice...
if it was free =D
2007-11-23 02:03:27 · answer #1 · answered by allisonnnn :] 2 · 0⤊ 0⤋
I've known some pretty responsible 'teens' that successfully manage their credit cards with no problems - they put some 'adults' to shame.
On the other hand, I've seen some teens use credit with disastrous results.
I think it fair to say it's not so much about the age, but the ability of the person to be responsible and smart with a credit card.
2007-11-23 01:38:27 · answer #2 · answered by north o 2 · 0⤊ 0⤋
I can not see much advantage to teens(assuming under 18) using credit cards. However parents should not be prohibited from letting their teens use their cards if they choose.
Over 18 I can see the benefits(convenience, establishing credit) that apply for other adults. However for any teens all the negatives apply at least as much as they do for adults.
2007-11-23 01:34:34 · answer #3 · answered by VATreasures 6 · 1⤊ 0⤋
no -- nor will your bank issue one to a teen without an adult co-signer.
***
the law says that minors may not make a contract. depending on the jurisdiction, all such contracts are either void, or voidable at the option of the minors parent(s).
a credit card is a contract to pay the bank later. unless the adult responsible agrees in advance to pay no matter what the minor uses the charge card for, there can be no contract and thus no credit.
[think about it -- you give teen a charge card and he uses it to charge gambling chips online -- since you've agreed in advance, you're on the hook up to the credit limit, aren't you?]
or online porn.
2007-11-23 01:56:08 · answer #4 · answered by Spock (rhp) 7 · 1⤊ 0⤋
If you have a job and can pay the credit card bills every month like an responsible adult then yeah you can have a credit card. But if you cant pay the bill, or have no way to pay the bill, then NO.
2007-11-23 01:37:43 · answer #5 · answered by L 4 · 0⤊ 0⤋
Are you kidding. Most American "adults" (if there are any) shouldn't be allowed to purchase a cup of coffee on credit! Anyone under thirty should have to pay cash!
2007-11-23 02:04:56 · answer #6 · answered by Anonymous · 0⤊ 1⤋
If they are mature enough, I dont see why not. I mean some teens are capable of handling their financies better than adults!
Dont underetermate the young = they are the future!
2007-11-23 01:56:29 · answer #7 · answered by Anonymous · 0⤊ 0⤋
The answer to your question is very simple. It depends upon the teenager. If you question the maturity of the teen, then the answer is no. If there is a doubt the answer is no.
2007-11-23 01:38:47 · answer #8 · answered by R 4 · 0⤊ 0⤋
No. Banks lure teens in with easy cash, and then they are in debt for life before they can even say "I'll take it in both colours".
2007-11-23 01:34:19 · answer #9 · answered by Anonymous · 0⤊ 0⤋
No, no and NO!
2007-11-23 01:33:34 · answer #10 · answered by npk 7 · 2⤊ 0⤋