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Should Credit Cards Be Allowed In High School Essay

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Did you know that about 31.8% High School Seniors have used their own credit card and the other half has a credit card of their names that their credit cards issued to their parents? Well we know that, High School students are more than likely to spend a lot of money while they use their credit card and when they received the credit card bill, most likely High School students will/might eventually get into debt if they owe and overdo money from the bank. There are several reasons why it is not beneficial to allow High School students to have their own credit cards based on their age limit, more teens are dealing with debt and teens don’t learn their lessons while using a credit card. One reason is that, High School students are not supposed to have their own credit card based on their age limit. This is because the Credit Card Act of 2009 was passed by the US Congress and signed by …show more content…

This is also because their interest rates will rise, their payments gets past due and they might/will get a bad credit score. Also, according to Teenage Research Unlimited statistically stated that, “11% of teen’s ages 12-19 have their own credit cards, and an additional 10% have access to a parent's credit card.” and “In 2003, teens spent $175 billion, averaging about $103 per week.” This also shows that, teens especially when it comes to a credit card, they have a tendency to spend more money than usual like buying a new cellphone for themselves, a brand new computer/laptop, paying all their expenses for their boyfriend/girlfriend (partner), etc. However, as soon as when they receive their credit card bill, their parents might/will not look happy at all that they owe and they must pay a lot of money from the bank that they will/would soon get into debt and a bad credit score can cause you to be rejected for credit and financing/pay higher interest rates that will eventually lead you to

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