Credit Cards – Then and now

My son will be eighteen years old soon and I am certainly looking forward to present him a supplementary Credit Card. I did not get a credit card until I am around 22 years old and that was quite an achievement for me because one needs a certain salary because we can get our credit card approved. Credit Cards applications back then were much stricter and you do not just get one because you like it. Credit Cards companies were more cautious of bad debts and the Government was very tight with the law.

However, nowadays, it is much more lax and one can apply for a few credit cards if they wish. The glamour of owning a card is no longer there. Now, it is more of a convenience. There are so many different types of credit cards available. Just take a look at Credit Card UK to see what are the options available. I think I will take a card that has less credit limit and give it to my son when he reached 18 years old. It is certainly nice to be able to swipe his own card and manage his own finance. What do you think? When you do think is the best age for a person to own a credit card?

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