Many reasonable people were shocked when Robert Manning, the renowned author of the “Credit Card Nation: The Consequences of America’s Addiction to Credit” disclosed that within a span of only three years, teenager credit card holders have multiplied by three times. While credit cards have their own advantages and benefits, they could become worse tools in the wrong hands.
In United States alone freshmen carry credit card debt average of around $1,585 and many start piling up credits even before reaching adulthood.
But here is the cliché in the issue. A freshman won’t be able to acquire a credit card on his or her own without the support of one of the parents as co-signatory. That makes it essential to create awareness among the parents more than their child about the advantages when credit cards are in the right hands and adverse affects when they are in wrong hands.
With the electronic, print, and web media vying for supremacy in comparison to each other in marketing business, numerous companies are soliciting even the under aged people to go for their credit cards. In the process they highlight the credit card deals and their advantages without showing the other side of the moon.
It is the teenagers that are the largest viewers of Internet as well as the electronic media. And both of these are flushed with such solicitations. It is therefore imperative for the parents to come to the rescue of their loved ones by saving them from such ads that may easily lead the teenagers the wrong way.
Credit cards are never bad. They are good but only when they are in responsible hands.
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