The usage of credit cards has become common nowadays, but then people have not yet understood the fact that they should undergo adversity in the name of credit card debts. And this small plastic card has the power to demolish their lives. Credit cards are a kind of trap where you spend money without realizing the fact that you owe the spent amount to some one else. Becoming a prey to the credit card is the easiest thing. But then bailing yourself outside proves to be a great torment.

So long the credit card companies were targeting only the adults, but now their focus is on the teens. This is because teenagers are very vulnerable and they could be easily conned. Even though some teenagers have no legal right to possess credit cards, they obtain a card which is co-signed by their parents. Being young and juvenile they lack the basic sense of spending. The credit card gives them the freedom of spending and before they could understand its workings, they are half way buried in debt. The most depressing fact is that a lot of teens are said to be affected due to credit card debts and they are struggling to survive.

How to help

Ignorance is the main cause for this disaster. So we have to educate the teenagers about the workings of the credit cards. Most of the teens get in to this scandal because they are not aware of its after effects. Sometimes teens receive only very little knowledge about the credit cards, so initially they restrict their expense, but soon they lose control and start spending. These problems could be solved by making them understand that the amount they use is a loan, which needs to be paid back within a stipulated period of time. Their expenditure should be limited, so that they will be able to pay the amount back. If they spend too much and if they are not able to repay it, the money starts to accumulate together with the interests. Some teens think that it is enough to pay back the money which was spent; they have no idea about the interests and all other additives.

Some Credit card companies collect the personnel details about the teens and thus try to pull them inside. Teens should be educated about the tactics of the credit card company, they should understand the fact that credit card companies are trying to make them spend lavishly by giving them the license to spend.

The Teens have to grow up someday; they need to know about the usage of credit cards. So we should start guiding them about the credit card usage. They should know the pros and cons of credit cards. Here parents can help by intervening and establishing a limit on their credit. This may give the teens a better insight about the credit card details.

They should be allowed to calculate and see the interests and the other amounts which would get accumulated if they spend too much without repaying properly. Some teens feel very comfortable with minimum payments; they should be enlightened with the fact that minimum payments are traps which could make them a slave to debt for a longer period of time. And this would consume years of happy living and bring about depression.

So before teens are allowed to use their credit cards they should be given proper instructions. And in case they are not able to follow up and if they put themselves in trouble, it is better to stop their usage. We are responsible in saving the future of the younger generation, so we should take up the initiative.

kristina rekha is a copywriter for various sites. You can contact her through mail at Kristinarekha@gmail.com.
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