Would the US be well served by a law that prevents people from taking on credit card debt before the age of 25?
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Will some people be better off, sure. Is that a reason to remove easily accessible credit from all 18-25 year olds, I don’t think so. Why stop at 25? Why only credit card debt?
By that time, people have some sense. Credit card debt in particular is used for pointless one off purchases unlike auto or home credit?
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Is it? Kevin Smith made Clerks off credit card debt. Airbnb guys talk about how they had a baseball card binder full of credit cards to keep the business running. If they can’t get credit cards do they take out payday loans instead?
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My suggestion probably sucks, but for most people, it's probably not a good idea to be using a credit card to make a movie or do a startup based people sleeping in strangers' homes.
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