Turning 21 Now Means Something Else for U.S. Youth

Posted by J. Catapano , Oct, 2009 @ 16:37

For only twenty-five years, which really isn’t too much time when you think about it, American students have been waiting around to have the ability to drink (legally). It’s that magical time when you go out with your jackass friends and get wasted because it’s just the right thing to do. You only turn twenty-one once, they say, and you’ve gotta live it up! It’s a benchmark, a right of passage, a long awaited expectation. Now, it’s just another line you need to cross in order to get a credit card.

That’s right ladies and germs, starting next February, you need to be to of legal drinking age to purchase a credit card. A little ironic, don’t you think? What do you think is going to be the first purchase on those cards? Booze, that’s what. I suppose some kids will buy something stupid like a new TV, but my guess is that liquor will top that list. But, I digress. Hack College tells us that The Credit CARD Act of 2009 was passed last May, which amended the Truth and Lending Act. The act specifically states that anyone under the age of twenty-one will be unable to sign a credit card agreement without a parent or guardian co-signing. It’s one of those ’safety-nets’ we’ve been hearing so much about. Of course, if your parents are spend-thrifts, then maybe this won’t work out after all. The assumption is, though, that your parents will be a little more responsible, monetarily speaking. Once you’re twenty-one and able to get shit-faced, though, then you’ll be the responsible one!

But I kid, I kid. I do think it does happen to make a lot of sense. Too often you’ll find kids getting their credit cards before they head off to college and spend money on stupid things, which drive them into greater debt than they ever imagined. By stopping this sort of thing from happening, the government is almost guaranteeing that students won’t fall into this trap; they won’t until they’re twenty-one, at least. For the most part, though, I think having this kind of law will help debt reduction substantially in this country. Between now and February you may find that your mailbox has an inordinate amount of offers from creditors trying to sign you before their time is up. Be on the look out, and think before you act. Campusology is always looking out for you!

Tags: 21, American students, benchmark, booze, Credit CARD Act, Credit CARD Act of 2009, credit cards, creditors, debt, debt reduction, Drinking, drinking age, getting older, government, hack college, right of passage, twenty-one, youth