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
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