What will the new credit card law requiring you to be 21 to get one do to those already having cards?

credit card
James R asked:


In February 2010 new laws will require someone to be 21+ in order to get a credit card. If someone already has credit cards and wont be 21 in February what will change?

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One Response to What will the new credit card law requiring you to be 21 to get one do to those already having cards?

  1. bdancer222
    September 16, 2009 at 8:00 pm

    The new law won’t affect those who already have a credit card.

    It isn’t that you can’t get a credit card if you are under 21. If you are under 21, you have to show proof of income or have a parent co-sign. The idea is to stop students with no income from getting multiple credit cards and getting into financial trouble.

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