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Right Age to Own A Credit Card
#1
Though teenage years comes with a lot of new privileges and responsibilities like getting a driver's license and gaining the right to vote. There are some financial privileges, too, like being able to get a bank account without your parents and getting your first credit card. However, getting a card is not as easy as 1-2-3. This is most specially true when a young adult is just dependable of their weekly and/or monthly allowances from their parents. Such form of income generation is not valid hence not accepted by bank as good source of income to pay the monthly statements.

 True indeed that it's a good idea to start practicing money management as early as possible but owning a card I must say not just come with the legal age but also the ability of the person to pay for it and the maturity level of the person to hold such great responsibility. We need to face the reality that there is a 40-50 year old individual who is not financially stable. And that age range may widen so to speak. Of course, you don't have to get a credit card at age 18. Credit cards carry a high risk of debt and getting one before you're ready puts you at risk of hurting your credit history before you ever really get a chance to get started. It's better to wait a few years until you have a steady job and can consistently afford to make your credit card payments on time.

So for me, it's not really the matter of age legality rather a level of financial stability and the responsibility that surmise it.
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#2
I agree with you on the fact that it shouldn't be all about the age, but the ability to owe up to responsibilities that comes with having the credit card. Although, the reason banks don't give out credit cards to people under the age of 18, here in Nigeria, is the need to ensure that you're old enough to face any fine that might come with credit default which is something we need to consider when credit cards are involved as well.
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#3
I agree with you brother. In my country only age 18 above can get a credit card. Having a credit card comes with a high responsibilities, if you don't you don't use your credit card wisely you might end up on a pretty bad situation.
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#4
Owing a credit card at the right age doesn't account to much as it does to the reasons for owing a credit card. If a person is independent enough to have a monthly income and sources with which to pay up the card then that doesn't really seem to be any problem regarding the age since an adult starts working or earning only after he/she is suitable enough for the job i.e experience, age etc. That being said age does comprise of a lot of important decisions in ones life and being independent at an early age gives one freedom to be his/her self and explore new ideas and possibilities
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#5
There's no right age to have a credit card. I guest the real question is when to own a credit card. My answer is when you have already a stable job and earns regularly that you can manage to pay bills and other obligations on your own.
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#6
(01-08-2018, 04:49 AM)babyblue09 Wrote: Though teenage years comes with a lot of new privileges and responsibilities like getting a driver's license and gaining the right to vote. There are some financial privileges, too, like being able to get a bank account without your parents and getting your first credit card. However, getting a card is not as easy as 1-2-3. This is most specially true when a young adult is just dependable of their weekly and/or monthly allowances from their parents. Such form of income generation is not valid hence not accepted by bank as good source of income to pay the monthly statements.

 True indeed that it's a good idea to start practicing money management as early as possible but owning a card I must say not just come with the legal age but also the ability of the person to pay for it and the maturity level of the person to hold such great responsibility. We need to face the reality that there is a 40-50 year old individual who is not financially stable. And that age range may widen so to speak. Of course, you don't have to get a credit card at age 18. Credit cards carry a high risk of debt and getting one before you're ready puts you at risk of hurting your credit history before you ever really get a chance to get started. It's better to wait a few years until you have a steady job and can consistently afford to make your credit card payments on time.

So for me, it's not really the matter of age legality rather a level of financial stability and the responsibility that surmise it.

Age should be considered as a good factor in determining when one is eligible to getting a credit card but rather one's responsibility and ability to pay the debts which comes to having a credit card. Yes I would agree that almost everything is easy to acquire these days but owning and managing credit cards is on a whole different level. 

One's earnings is the major factor in deciding whether to get a credit card or not because it's the only sure way to being sure of paying for the interest and debts incurred by the usage of the card.
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#7
I think the right age to own a credit card is when a person has a stable job so it's probably 21 when they get finished studying. Having a credit card is a big responsibility. Just wrong moves using it might get you in trouble. A person must be matured enough handling a credit card. They must know the pros and cons when they got one.
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#8
(01-08-2018, 07:39 AM)aecel Wrote: I think the right age to own a credit card is when a person has a stable job so it's probably 21 when they get finished studying. Having a credit card is a big responsibility. Just wrong moves using it might get you in trouble. A person must be matured enough handling a credit card. They must know the pros and cons when they got one.

I agree with you on the need for those seeking for credit cards to have jobs that are doing at that moment so that it will be easier for them to settle off the debts when it pills up. It's not always easy, but understanding how credit cards is important. 
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#9
I think credit cards shouldn't be given to people below a certain age. I definitely wouldn't give one to someone who is less than 18 years old, and even then I would expect them to get in trouble, honestly. Owning a credit card is a big responsibility, and you can't really expect maturity, and self control from younger people. There are exceptions, but they are definitely a rarity.
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#10
Totally agreed with you, age doesn't really matter in terms of getting one but it depends on the person's status. But teenagers are teenagers, you can't expect them to be more matured than people who can handle business or their own money. It actually depends.
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