No. of Recommendations: 1
<<But, for those students who don't ace the math section of the SAT, perhaps having a credit card with an incredibly low limit is a good learning tool to teach them real-life personal finance stuff.

A good math SAT didn't help me. It took me years to finally get free of credit card debt, even though I knew, and could calculate, how much money it would cost. The reason was because I always figured I could pay it off next month, next year, etc., before the interest added up too much, but I never did.

-- Mark
>>


Good comment.


Most parents would never let a handgun sit around where children could play with it. Perhaps smart parents should regard credit cards with a similar suspicion.


I certainly seem to see a lot more stories of young people who are injured through unwise use of credit cards than those who gain some significant benefit from them.




Seattle Pioneer
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement