Check this out. The bottom line to this story is that a 6 year old kid got a credit card. You're probably going, 'saaay what?' Well according to The Consumerist, it did happen. 6 year old Bennett Christiansen of Aurora, IL got hooked up with a shiny new Bank of America card.
READ THE STORY HERE
Courtesy of "The Consumerist"
I can't believe that happened. That just goes to show that banks just want to get into more credit trouble than they are already in. If they're dishing out credit cards to everybody knowing that getting payments from these individuals will be unlikely, then that to me is just a sick degrading cycle. I think banks need to do more to filter out these individuals, and give credit to those who can pay them back to some extent. Isn't that what the credit score and credit reporting bureaus are for?
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