Question: If a child or a teen who is not 18 receives a credit card in the mail and they decide to sign and use the credit card are they responsible for the payments?
From CNNMoney.com: Kids' credit cards, who pays?
Gerri Willis answers the question regarding children under 18 making payments to credit cards.
Answer: Bottom line is that if you're younger than 18, the contract between you and the credit card company is null and void and you would not be legally obligated for the balances. The bank will have to eat that amount.
That said credit card companies know this and they won't intentionally try to send you a credit card if you're a minor. Keep in mind that just because you receive a credit card application in the mail, it doesn't mean you will receive the credit card. And if this is you, don't use the card if you're under 18.
This is the same for any loan of any kind. The lender won't let you be a borrower on any type of credit product until you are 18.
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