Credit Card For High School Kids

March 20th, 2009

If you thought this was a modern urban legend, rest assured it isn’t.  High school kids below 18 years of age can now get and use student credit cards under their name.

highschoolcreditIt’s true.  Credit card companies, looking for new markets to expand in, are now actively pursuing high school juniors and seniors as new credit card customers.

Parent Should Take Notice

If you’re a parent and hadn’t known till now, it’s time you took a close look.  Your kid may already be deep in debt without you even knowing it!  Even if they don’t fall into the debt trap this early, credit card use at an age where they are impressionable and (for the most part) financially unprepared can create destructive habits that can haunt them towards the later years of their lives.

High School Credit Cards Are Widespread

According to surveys across several states, as many as 1/3 of all junior and senior students have at least one credit card.  Unless they are accessory cards from parents who can monitor and discipline their spending habits, these kids are, for the most part, left to fend for themselves with a serious financial instrument in their pocket.

Do You Know What Your Children Are Paying For?

When your kids have their own credit cards, they are likely paying for all sorts of items without your knowledge.  While the danger of buying things they can’t afford is an obvious issue, an even bigger problem is their newfound ability to purchase medical treatment and drugstore purchases without a parent’s knowledge.

Educating Your Children

Proper education in responsible credit card use is a necessity now, more than ever, especially if this trend persists.  Don’t wait till its too late before you equip your children with the financial knowledge that can guide them through the rest of their lives.

noel Posted in Student Credit Cards

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