By Aren Mardikian

Why Teenagers should not have a credit card

Pros of a credit card

allows you to make purchases without having to carry cash

offers you a loan without interest if you pay the full amount every month

helps you establish a credit history and earn a credit rating, making it

easier to get loans in the future

Cons of a credit card:

Costs more money then cash makes it easy to acquire debt that

you may not be able to repay might damage your credit rating if

your payments are not on time costs much more than a bank loan

At the ages to 12- 19 I don’t think that teenagers should have credit cards .

Teenagers tend to spend money on things they want more than the things they need.

Wants are the things that you want to have like for example candy and shoes.

Needs are things that you can not survive without for example food and shelter.

If a teenagers spent all of there money on the things they want there will be no money left over for the things they need to live.

But If the teenager has a good self discipline and are able to control there wants and needs it wont be a bad idea to give teenagers a credit card because it will make the parents job much easier.

In Canada the average consumer debt is 26,000 dollars.

Debt is really powerful and can tend to ruin peoples lives and Cause depression

Credit cards also have a monthly payment which is often $10 or 3% of the total owing so if teenager do use cash they will save money

Credit cards are like getting a loan you have to eventually pay that amount that you used plus interest so more money is getting paid then if you payed in cash

Teenagers should not have a credit card

Teenagers don’t know the

value of money