More Teens Becoming Credit Card Users

By Eileen Alt Powell, Associated Press

A poll of teenagers who participate in the Junior Achievement program found that more than 11 percent are carrying credit cards, some as young as 13 or 14 years old. In addition, three out of 10 teenagers have checking accounts, and many are likely linked to automated teller machines with debit cards.

“We were a little surprised at the numbers,” said Darrell Luzzo, senior vice president for education at JA Worldwide, which is headquartered in Colorado Springs, Colo. “Having a credit card is not necessarily a terrible thing, so long as they’re being educated about the appropriate financial principles.”

But while 82 percent of the teen credit card users said they paid their bills in full every month, 18 percent said they carried balances over — a practice that has gotten a lot of their parents in trouble.

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