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Teens Need Some Credit (Cards)

Teens and young adults (under 18 years old) are not eligible to apply for their own credit rating, but they can be “carried” on their parents’ cards as authorized users. While giving a teenager a credit card may seem precarious, it can also be a positive educational tool for emerging adults. Jack E. Kosakowski, president and chief executive of Junior Achievement USA, an organization for financial literacy and entrepreneurship promotion among young people says: “I…