Should Kids Have Credit Cards?
Twentieth century journalist Earl Wilson said, "If you think nobody cares if you're alive, try missing a couple of car payments." Kids need to feel like someone cares -- but giving them access to credit can too easily lead to the wrong kind of attention. In fact, many adults don't manage money very well and aren't in a position to teach their children about using credit. Additionally, kids who use credit cards won't understand the value of money. Finally, there are severe consequences for using credit irresponsibly. In the end, kids under 18 should not be given access to credit cards.
Many adults don't manage money very well and aren't in a position to teach their children about using credit. For example,