Are all college students financially nave? Would you trust your teenager with a credit card? Well, whatever you opinions on the matter might be, students are increasingly being targeted by credit card companies. This is clearly the “catch ’em young” philosophy in action. There are many detractors to this policy of looking for increasingly younger credit cardholders. One of the most voiced opinions is that the credit card providers are simply looking to make a quick buck by exploiting the financial inexperience of young people. Teenagers are not renowned for their budgetary skills. In fact, most of us learn to take care of our finances only after going broke a couple of times.
However, perhaps it is time that we placed some trust in the teenagers of the world. With the kind of exposure that the young people of today get, it is easier to avoid getting entrapped in webs of debt. Moreover, the high school and college years are the easiest years to learn about the value of money. The experiences that we gain at this time teach us to be smart with our cash. So this is as good a time as ever to introduce your college-goer to the big bad world of credit...
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