I didn't qualify for my first credit card until I was 26 and even that card came with a strict limit. No wonder our banks are in the shape they are in today.
 

My mother signed me up for a store credit card when I was 7. We only used it to by school clothes (on sale) and paid it off as soon as the bill came. Got a checking account at the local bank about the same time.

Thing was, I hit 18 with a solid credit history and was able to qualify for a used car loan without a co-signer out of the box.

We've done the same for our kids, too. Of course, we manage their use of the cards and spent quite a bit of time educating them on the use of credit in general.

How else are they to learn what not to do?
 

When Obama is President, Big Credit Card will never hurt us again.
 

That's some searing satire right there. Especially in the same week it was revealed that Cindy McCain and a McCain kid have over $250,000 in debt on their three AmEx credit cards. "Luckily," AmEx is charging the McCains a very reasonable 0% interest rate.

True, John McCain has pushed the credit company agenda in the Senate for many years, but it's all a crazy world of luck and coincidence.
 

Ohhh nozzz! 250k of debt and they only have $100,000,000 in assets to pay it off with... Scandal!

Someone call Dan Rather.
 

It's the 0% interest that's newsworthy, LOLZEinstein.

Why don't you call AmEx and ask for one of their standard-issue neverending six-figure loans?
 

"AmEx is charging the McCains a very reasonable 0% interest rate"

Um, am I missing something here? American Express is a CHARGE card, not a credit card. It charges EVERYBODY 0% interest.

Honestly.
 

Yeah, no shit. I have one, too, at 0%. My debt is only 5k, but my assets are worth slightly less than $100 million.
 

Don't you guys worry, nasty facts have never stopped a Lefty troll for long.
 

Typically, 0% credit card deals are capped at five or ten thousand dollars. And they shed their zero percent rate after the initial 6-9 months.

If it's a charge card, the balance has to be paid monthly.

It's possible that the McCains are racking up $300,000 in expenses each month and paying them off in full the next. But it's certainly going to put a damper on the next "Obama, Elitist" broadside.
 

Rightwing blogolockstep, 2004: "Why won't Teresa Heinz Kerry come clean? What's she hiding?"

Rightwing blogolockstep, 2008: "Ignore trollish curiosity. Except for a couple of extra zeroes, Cindy McCain's just like me!"