A new survey about teenagers' spending habits provided good news for Exxon Mobil, but bad news for Abercrombie & Fitch: Gasoline has surpassed clothing as teenagers' No. 1 credit-card expense.

A poll of 712 teenagers conducted by Junior Achievement and The Allstate Foundation also found that a larger portion of teens are using credit cards -- 10.4% vs. 8.5% a year ago.

"Rising gas prices are impacting teens as much as they are their parents," says Jack Kosakowski, president of Junior Achievement USA. "The question is, are the teens paying off these cards, or are they passing the debt on to their parents?"

In the most recent survey, about 69% of teens said they use credit cards for gas, up from 52% a year earlier and 46% in 2006. Gasoline now tops the list of things teens are charging, above "clothes," which had led the list in previous years.

I'm betting on the "passing the debt onto parents" choice.

"passing the debt onto parents"

Is this an option? Do you know where we can get a list of these kids parents with mailing and billing info? I'd sure like to look into it.

MV

It should be illegal to posses a credit card if under the age of 21.

Really? 18 years old and is an adult, so your saying adults shouldnt be able to have a credit card?

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1992 SEL 600..... 143,000 miles

Can an 18 year old adult drink alcohol?

Yes, I'm saying adults shouldn't be able to have a credit card. This generation is irresponsible. The card has no real value attachment to them, they don't understand the consequences of swiping the piece of plastic for stuff until they have a few grand of debt, 13%+ interest attached to it and they are being hounded by debt collectors.

Prime example: Barbie Teaches Credit Cards 101: "You Never Run Out Of Money!"
Watch the ad: http://www.youtube.com/watch?v=ETOnpBtN25c

Any credit card a teen has is likely one of those "trainer" $500 or $1000 limit cards, or a card from their parent’s account. If it's the parent’s card and they do not know what it is being used for then they deserve the debt.

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1979 240D- 316K miles - VGT Turbo, Intercooler, Stick Shift, Many Other Mods - Daily Driver

1982 300SD - 232K miles - Wife's Daily Driver

1986 560SL - Wife's red speed machine

Please.

Scenario: Dad & daughters are flying to TX for a wedding from the east coast. Dad and daughter 1 are flying from PHL; daughter 2 is flying from Newark. Dad and daughter 1miss the flight. Daughter 2 flys to TX. Little money, fortunately enough for a cab to the hotel, where the rooms were reserved.

I think credit cards for emergencies are fine for teenagers/young adults. Whether the parents like it or not, kids can and do get their own credit cards (plural) without parent consent. They throw them at you on campuses.
Told my daughter to get one card. She got 3. And an AMEX card.!!!!!!
Before you could say Oh No, she's $6,000 in debt.

Credit card companies don't care who you add to your account...so yes, many teens do carry credit cards, but are just cardholders who charge against the parents' account. The parents can monitor their spending habits and choose to withdraw the card from the account if it's out of control.

I would probably issue a gas card to my daughter when she is of driving age...as far as a credit card for shopping, there will be tight reins on that one.

The cards issued to college students is deliberate. 3000% APR + prime. They know that Junior will max out the card, and because it's not in the parents' name, Daddy cannot cancel the card. But he will be forced to bail out Junior, lest the kid start off life with a devastated credit history!

Heck! It's genius! And I'm sure it's a huge profit for those banks that issue the cards!

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2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car

Lance, I whole-heartedly agree.

How would it be any different if they had a debit card with a known amount of cash in it to be used only for emergencies?

You should agree with Lance then because kids would not be able to do this.
Yes, this should also be illegal. But they don't 'throw' them at you. You still have to sign for it. If more kids were educated on the evils of credit cards then this would not be a problem. The problem is most adults don't know this either.

Looks like she needs some lessons on money.

It is genius. Debt has been incredibly marketed to America over the last 30 years. So much so that now it is the norm to be in debt up to your eyeballs and the credit card companies are laughing all the way to the bank.

Than how are you supposed to build credit?

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Yeah you have to watch that, I have seen it time and again.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Why would one have to build credit?

Building credit is a credit industry tool so people will go into debt. Saying "I want a high FICO score" is the same thing as saying "I want to be in a lot of debt forever".

I don't think I would agree with that. Not sure what the rational is. I can hold a rifle to kill and be killed for my country but I can't drink at 18? Seems weird to me.

You want to teach responsibility? Set up Debtor's Prisons. If that doesn't work, nothing will. You cannot teach responsibility without consequence. If you have that "everybody is a winner" attitude, what is the consequence of not working hard? Why would I study your lessons and what not when I can get a passing grade by simply being there?

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01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
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03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
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