the problem with credit cards today is that people under 18 cannot have their own. How can we instill hardworking qualities in our young people while denying them the right to use their money as they choose?
the problem with credit cards today is that people under 18 cannot have their own.
You can get a debit card from your bank. The reason it's illegal to give you credit (not that anyone would anyway) is that it's illegal for a minor to enter *any* kind of contract. You could maybe get one if your folks cosigned.
Being a teenager sucks, especially if you're ready to be independent. It gets better though. Just try to enjoy being 18 while you can!
The reason it's illegal to give you credit (not that anyone would anyway) is that it's illegal for a minor to enter *any* kind of contract. You could maybe get one if your folks cosigned.
You left out the IANAL disclaimer, but that's ok, because it's damned obvious anyway. Do you really think it's illegal for a minor to enter into a contract? It only happens millions of times a day. I hope they don't haul them all off to jail.
They could give minors credit cards if they wanted to. It's just not a very bright thing to do. The problem, at least in the US, is that most contracts a minor enters into can be, by the minor, broken at will and without consequence. So credit card issuers don't like the idea of a kid going on a spending spree and then saying "I changed my mind and won't be honoring my agreement." But there's nothing illegal about it.
a problem (Score:2, Insightful)
Re:a problem (Score:2)
You can get a debit card from your bank. The reason it's illegal to give you credit (not that anyone would anyway) is that it's illegal for a minor to enter *any* kind of contract. You could maybe get one if your folks cosigned.
Being a teenager sucks, especially if you're ready to be independent. It gets better though. Just try to enjoy being 18 while you can!
Re:a problem (Score:1)
You left out the IANAL disclaimer, but that's ok, because it's damned obvious anyway. Do you really think it's illegal for a minor to enter into a contract? It only happens millions of times a day. I hope they don't haul them all off to jail.
They could give minors credit cards if they wanted to. It's just not a very bright thing to do. The problem, at least in the US, is that most contracts a minor enters into can be, by the minor, broken at will and without consequence. So credit card issuers don't like the idea of a kid going on a spending spree and then saying "I changed my mind and won't be honoring my agreement." But there's nothing illegal about it.