Graduated Credit Cards For Young Adults
November 27, 2008
One of the ways the credit card companies get their hooks in you is by targeting young adults. They offer them the ability to buy all the things they really want but can’t afford, at a time in their lives when they are probably not making a lot of money.
I know this first hand, having been bitten by the credit card bug when I was in university, where there were credit card applications placed strategically all over campus.
Once they get you started, it can be a long road back from the debt that accumulates.
If it were up to me, there would be some kind of “graduated licensing” system for young adults and credit cards. Kind of like getting a drivers license in many areas - there are multiple levels of licenses, depending on experience, proven skills and more.
Here is what I would suggest…
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