When Teens Get Credit Cards
Published May 12th, 2006 in UncategorizedWhen Teens Get Credit Cards - Kiplinger’s Personal Finance
I talk to a large number of high school business and consumer-education classes. Two to three students in each class already have their own credit cards, in their own name and without the signature or permission of a parent. None of them is over 18.
How can the credit card companies do this and not run afoul of federal regulations about contract age? Can the credit card companies go after the parents if the teens can’t (or won’t) pay?