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Children and Youth
Teens and Credit Cards
For its 2005 poll on teens and personal finance (executive summary, 17 pages, PDF), Junior Achievement questioned 1,065 students in the seventh through twelfth grades and found that 11 percent owned their own credit card. The incidence rose with age: 20.5 percent of the teens eighteen and older had their own card, while only 13.1 percent of those age seventeen did. In addition, 15.7 percent of the teens who worked during the school year owned their own card, compared to 6.8 percent who didn't work. The poll, funded by the Allstate Foundation, found that of the respondents with their own card, 81.7 percent used it responsibly, paying their monthly balance in full.
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