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I see no reason for teenagers having no credit cards.

I would teach the teenager financial responsibility in one of two ways. That they keep the payments up to date and find that the interest paid is self-defeating, as opposed to using cash. On the other hand, they would dig a hole of debt and find out that when you fall into a hole; the first thing to do is stop digging.

I also believe that certain rules should apply. I would not co-sign for such a card and it is illegal to hold any underage person to a binding contract. Belonging in that category should be anyone under the age of 18. In addition, illegal to "ruin" that person's credit as the contract is invalid.

These credit card companies go after teenagers like fly's to sugar. Anything for a buck.

I believe that most teenagers would default' on such credit. That, so long as the parents do not become co-dependent and pay the bill), the credit-card company should have to eat their loss.

Maybe that would deter them from striving to get credit cards into the hands of youngsters.

Learn more about this author, Duane Kuehn.
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