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When your 17-year-old gets a credit card application

Posted Feb 19 2008, 11:45 PM by Karen Datko
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Deb Holder's 17-year-old daughter received a credit card application in the mail, and it wasn't a mistake -- this despite the fact that her daughter is an unemployed high school senior. 

The application included information on responsible spending targeted at both the teenager and the parents, who are required to co-sign. "Still, it gave me this sick feeling in my stomach. Why are they targeting my child?" Deb writes in a post at Debt-Free Mom. "The answer is quite simple: Because they can."

Deb quotes an article at Bankrate.com about how credit card companies "are swooping down on young consumers." She wonders if giving a credit card to a teen can be a good idea, particularly when marketers target them heavily to get them to spend. "From the time our children can understand the commercials on television, they're programmed to buy, buy, buy," Deb observes.

She makes an excellent, detailed case for why it's not, and adds, "Knowing these facts and knowing how I've abused credit cards in the past brought out the lioness in me, so I just had to warn my daughter about the dangers of the credit card jungle." She did, and her daughter's response -- you can read about it here -- impressed and surprised her.

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Comments

 

I left this comment on Debt-Free Mom's site, but I wanted to leave something here, too.

I received similar credit card applications shortly after receiving my driver's license (I wish I paid attention to the exact timing of it).

I think someone is selling children's names to these companies. Otherwise, how would they get the info?

Maybe it's car insurance companies, or the DMV, or schools...I'm not sure. But someone has to be doing that, because I don't see how else they would get the info.

Kacie (Posted 02.20.08 5:11 AM)

At least if they're minors, they need you to co-sign - and you can refuse. Send a kid to college, and if they can get past the payday, car title, check advance loan sharks, all of them perched conveniently on the outskirts of campus, there will be credit card kiosks waiting for them in the student union. And they won't need you - until after they're in up to their eyeballs.

Sandy in MN (Posted 02.20.08 2:52 PM)

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