American Realities 1st
15 February 2013
Teens Should Have Credit Cards
Don’t you think life would’ve been easier if you had a credit card when you were younger? Most people wouldn’t think, but you more than likely would have had a better future. Given a credit card and proper instruction, college bound teens would more than likely know how to better prepare for debt. It’s likely that learning about credit cards at an earlier age, maybe 14 or 15, would help in the long run. You don’t even really need to have one, just learn about the risks and benefits.
Maybe you’re down in your luck, stuck on the endless rollercoaster of credit card debt. But maybe this wasn’t always inevitable. It’s likely that if your parents allowed you and taught you how to own a credit card when you were younger, you would know how to act in a debt situation. Many parents should, “Consider starting your teen off with a credit card tied to your account. Not only will your teen inherit your good credit rating, but it will also allow you to see how much they are spending. Consider having your teen only use the credit card for emergencies to start with, and then encourage only charging what can be paid off in-full when the bill arrives. This hopefully will curb your teen from taking advantage of the credit card, as it is very easy to let charging get out of control”(Tips for your). But you probably won’t actually have to own a credit card if you don’t believe you’re ready. Maybe all you need is an understanding.” What’s funny is that it would be great if, by the time you get to college, you actually already had a background in what credit cards are, how they really work, what they want you to do, what they don’t want you to do, and the truthful role that they play in your future finances. It’s one thing to establish a FICO Score, which everybody needs. It’s another thing, however, to emerge from college with a bad FICO Score, which most students do today....