Teenagers and Credit Cards

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Advantages of Teenagers and Credit Cards Credit cards are becoming very popular among teenagers these days. Teenagers receive applications every day by mail or online making them very easy to obtain. There are many pros and cons about teenagers using credit cards. However, there are two reasons why having credit cards would be beneficial for teenagers. Credit cards can be an excellent financial learning tool for teenagers. While teenagers are under the age of 18, parents can request an additional card under their teenager’s name in order to teach them how to use credit wisely. Parents need to talk to their teenagers how to use credit cards properly. Teens need to learn the importance of making payments on time, not to go over the limit and pay more than the minimum due. If teenagers learn how to use credit cards while they are under the parents care, the use of credit cards would be easier for them to use and eventually have a good credit rating and at eighteen; they would be able to get a credit card on their own. Having a credit card is very convenient for teenagers to use. When teenagers are away from home, they can use credit cards in case of an emergency. For example, if the car breaks down or if they need money for gas or food. In many ways parents may feel some kind of relief knowing their teens have the security a credit card offers when they leave home. Credit cards are also convenient in a way that allows parents to monitor what their teens are buying, and how are they managing their expenditures. Many people disagree about teenagers having credit cards. Many argue giving teens a credit card can lead them to financial ruin. If parents don’t trust their teenager’s good judgment, teenagers will never learn to stand on their own, or learn to be financially responsible. However, teenagers are not able to due to their immaturity manage skills

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