Is a 7-year-old too young for credit? - MSN Money
Is a 7-year-old too young for credit? - MSN Money
This is an incredible(!) story detailing a couple's thoughts about getting their 7-year-old a credit card.
While we at OptionsDetective don't necessarily feel credit cards are "bad", it is clear that irresponsible credit card use (and the subsequent increase in personal debt) is a major concern for the American public.
Certainly teaching your children proper money management is critical to your child's future financial freedom. However we're not sure that providing easy access to credit is the best way to accomplish this goal.
Worth reading, and thinking about the implications....
This is an incredible(!) story detailing a couple's thoughts about getting their 7-year-old a credit card.
While we at OptionsDetective don't necessarily feel credit cards are "bad", it is clear that irresponsible credit card use (and the subsequent increase in personal debt) is a major concern for the American public.
Certainly teaching your children proper money management is critical to your child's future financial freedom. However we're not sure that providing easy access to credit is the best way to accomplish this goal.
Worth reading, and thinking about the implications....
posted by Dan at 10:03 AM
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