credit card used by teens needs control

Credit & Debit cards are a way of an important perspective of an individual in the society. The proper use of credit card early in life can help build confidence and begin good financial decision-making that will ultimately provide benefits for living a good debt free life. In addition teens would build an upgraded knowledge on balancing the need of credit card in future especially in the process of their studies and other car / home buying processes.

It has been recently estimated that the teenagers have been targeted consumer segment having in hand credit card solicitations as early in their teens. Credit card issuers never mind the fact that youngsters must be 18 to have a credit card of their own. Credit card holders are prominent among college students. College credit card surveys shows that at least 80% of the undergraduate students have at least one credit card under their own name without any other person being responsible for the payment. It has been observed that the students carry higher unpaid balances on their accounts. This ends in students opting to work for extra hours to keep their bills closed. This will gradually cut their study time.

The credit card company representatives have encouraged credit card offers to teens. In no way the credit card companies are responsible for the unreasonable risks after they offer credit cards to college students solely under their name. In such cases parents should be forced to take up with the responsibility for the sake of their children because the children take some more time to grow up and learn to deal responsibility with the credit.

To overcome all these shortcomings due to credit card for the teen