Here's a question for all my readers - should teens (under 18) be allowed to have credit cards? Do they have the financial wherewithal to manage credit responsibly?Talk amongst yourselves..............
No monthly fees, no equipment to install
No monthly fees, no equipment to install
I would say no.....as children under the age of eighteen do not have the legal capacity to enter into a legally binding contract. So if they neglect on payments the credit card company has no recourse. On the other hand if the parents co-sign they are liable. Personally I would not co-sign for my kids until they have proven they are capable of handling money......and at 16 or 17 years old........I don't think so.
ReplyDeleteJM