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I would be nice if we could "just say no" to teens who want credit cards, but it isn't that simple. Teens don't really become inundated with credit card applications until they are off to college and we have already lost our ability to monitor their every move long ago. The best way to inhibit their urge to fill out those applications is by example, long before they reach the age where they are getting them.

If you as a parent play loose with plastic money, it's a sure bet your almost grown child will too. Set them straight early on about the perils of credit card debt. Remind them when you purchase something with a credit card that if that bill isn't paid in full within 30 days it will accrue interest and by the end of the year that $200 item will wind up costing a great deal more.

Once your teenager is away at college or attending college at home, they will begin receiving applications in the mail that are very tempting. Zero percent interest for the first 6 months or a year, is a popular lure. Having a plastic card in your wallet so you don't have to ask your parents for the money for a ticket to a concert is exhilirating. Worse, if your son or daughter is away at college they receive phone calls to their dorm room from credit card companies soliciting their business. They walk out of the Student Union and are greeted by bank representative giving away coffee mugs, mouse pads, t-shirts and credit card applications. Your kid can't drink legally until he is twenty-one but he can accumulate credit card debt, no problem.

Accumulating debt for a teen is a potentially disasterous situation. A co-worker of mine tells a story about his daughter, in the last half of her junior year at a public college. She was about to take off for a semester abroad when her mom came across a credit card bill in the amount of $4,000. Her credit was destroyed because she hadn't been able to make the payements. The semester was ruined.

If your teen happens to not attend college or attended a two-year community college and is now a member of the work force, then perhaps one credit card with a low limit will help them learn responsibility. They have an income to pay the bill, if it's small enough, and it will help build up their credit rating. However, those teenagers away at school, don't have much income that isn't mommy or daddy's. Maybe they have a part-time job that is supposed to help pay for books or be their spending money. They aren't fully employed, yet the banks solicit them anyway.

There oughta be a law, as the saying goes. A law that prohibits the soliciting of those under the age of twenty-one who aren't employed full-time. Banks should be required to do an income check on teenagers who are gainfully employed and have their own income. To do otherwise is irresponsible. Teens in general should not have credit cards and they should not be held accountable, nor should their parents, for the actions of over zealous credit card companies.

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