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I bet you want to increase the spending potential for consumer hungry teens!!! A credit limit of $5,000.00 is absurd for anyone who has no or very little immediate potential to pay back a debt. I'm furious at your suggestion, since I am a parent who may have to assume that debt, someday. Now that I,ve got that off my chest, let's talk 'reasonably'.

First of all, not all teens are responsible or mature enough to have a credit card in their pocket or purse. That will be a opportunity for teens and parents to sit down and discuss money management and the necessity to live within one's means. Also in that discussion we must discuss the consequences of overspending (and even we 'parents' have personal testimonials to add and hope our children can learn from). I am certainly not in favor of giving teens the legal right to sign up for credit without parents input. I would consider anyone suggesting they do so, a "financial predator"!!!!and this would be a matter to take before our state legislatures. The story of the occasional college student committing suicide because of bed credit card debt is a reminder how serious this problem can be.

Let's present a program to teens and young people to teach them about money management and the appropriate use of A SINGLE credit card with a $1000 limit and increasing limits based on income and personal expenses. Anyone, which is probably most of us, who has felt the sting of long-term debt and the horror of living through debt reconciliation, should agree with me. It would be appropriate to offer unbiased money management counseling, even online, from a credible source that even parents could trust. Financial groups, investment groups, etc., could fund an independent, online financial counseling foundation, that would not only give advice regarding money management (not just how to get out of debt but also, avoid debt) but more importantly, saving for the future. I sure could have benefited from some reliable advice. This approach would literally feed the investment world with wiser citizens making wiser choices. Please reconsider your approach to our children, a beg you.
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