quote:
yer but im saying parents put credit cards in there name and then give it to there children and im saying the limit for owning your own credit card should be the age of 16.
Do 16 year olds have financial management skills? I bet the majority of them have less than $20 in the bank, and that would be with the job they currently have - if at all.
How do you expect a teenager who earns maybe a few thousand per year to be able to support a credit card with a monthly limit of $1,000? (minimum limit for a Visa/Mastercard in Australia).
They can't financially support themselves without their parents.
How do you expect them to pay it all back and not be in debt?
A credit card is credit, you don't need the money at the time to use it - which is one of the major reasons alot of people buy a credit card (that and most are accepted internationally now). The other would be that you don't have to pay right now (so to speak) so you still have money in the bank to waste..
Quickly, before you think about it, you'll be screwed. You will owe money to the bank for the credit card transactions and you'll also be changed interest on top of that.
