Argumentative Essay: To Young For Credit Cards

To Young for Credit Cards In 2009 a function restricted anyone under the age of 21 to occupy a credit card; this was an astute decision. Fraud is a very active crime in America, if one does not protect their credit card it could get hacked. 31.8 million credit cards were breached in 2014, claims Investopedia University. Being under the age of 21 could lead to irresponsibility, which could lead to salient information being exposed that could expose hackers to your credit card; approximately 14% of all credit cards were reported lost or stolen in 2014. With a credit card it is effortless to overspend due to the endless supply of money that is provided for you. If you were to overspend, the money would just have to be compensated in a fixed amount
of time, if not it will just gain interest. If the amount got out of hand it could lead you into bankruptcy. Out of all Americans there were millions of dollars reported in bankruptcy due to credit card damage in 2014. The average American has 3,000 dollars in credit card debt, reports the Daily Finance. On the other hand, having access to money is a good thing if it’s not taken for granted and handled responsibly, although at a young age being irresponsible comes with ease. With a young adult this debt could ruin their credit, which comes in later on in their life. It could also prolong with them for life. To avoid debt and stolen accounts we made the appropriate decision to increase the age of credit card use.