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I Think it help the older kids better because they known how much they spent a day.But it  can go the other way to. So need responsibly.

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I believe the age was reduced so that people could get experience with credit cards before they actually need one. I agree with it.

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It would reduce young people with  job to not have a lot of cash on them and make it an easier way to spend money.

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I do agree with this because if it reduced for the younger people it benefits them for the future .

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They reduced the age so that kids could aquire a credit card and learn repsonibility with money sooner. I agree with it, because kids can learn how to be responible, and also not bother their parents for cash.

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I believe that young people spend money faster, less efficient and can cause the kids to become responsible and plus credit is so common once kids get jobs. I think it was a good idea in the favor of banks but dumb for kids that go over there limit.

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The credit was reduced because kids can learn how to use it early on due to how common it is. I agree it will teach kids to be responsible .

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The age got reduced because, like Mr. B said, credit is becoming so common and necessary. I do agree with this, because kids can get practice using a credit card while under the watchful eye of their parents

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I agree Because they are tiered of late fees then they have to wait till there age limit is higher

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Do you have a credit card? Probably, well if you do then your spending habits have probably altered since you got one. I know mine have even been altered with cougar cash. Spending is easier and you aren't able to just glance into your wallet and count the bills. You feel as if you are spending less because you aren't losing a physical object. I recently read an article about in Taiwan in 1990, the government allowed the opening of copious new banks and they all expanded with credit and cash cards. After several years they accumulated a large amount of debt, near 260 billion USD. There was never debt like this at all before credit cards were around.

Where did the credit card come from? Well in the 1950's, a man by the name of Frank X. McNamara created what was considered the first "modern credit card". Recent statistics say that in the US alone, there is 1,895,834,000 credit cards in use. Only 23% of the US said that they didn't have one.

Cord Jefferson wrote an article on why he doesn't have a credit card, he is part of that 23% because of his "wariness" of debt. He had a friend in college who got a credit card and started to spend money that she hadn't earned yet and it became a big problem. Len Penzo on the other hand gives off some good reasons to own credit cards, mainly because of the convenience. They are good for expense tracking, insurance benefits, and credit rewards. Some people believe credit cards are safe its the people that have them that cause the problems.

How has it effected us today and what would the world be like if we had never invented it? Credit cards are great, they are fast easy and very convenient. They are great tools and have let a majority of people buy things with ease. Credit cards have changed the world today but not always for the better. The amount of credit card debt US citizens have collectively as of last quarter is $850 billion dollars.

Credit Cards may have more pros than cons but I personally don't think I will ever get one. One big downside is that a lot of companies and such require a credit card to obtain certain products. Life today without the invention of credit cards would be less advanced but I personally think there would be a lot less debt and bankruptcy.

In the article I read ("Could You Live Without a Credit Card?") it covered in great detail how credit cards can be an issue and credit card debt has effected a large percentage of the US. The authors main purpose for writing this was obviously to show the reader that credit cards can easily alter our spending habits and its not hard to build up a large amount of debt. Giulia Rozzi is the focus point of the article and what happened to her in college, and how she joined the 29% of america that lives without the use of credit. Credit is easy and fast, and we value simplicity. But at what cost? Im not saying credit cards are bad ra ra ra, but I am saying as a nation, they have changed how we spend our money and increased the amount of debt.

In the book (Credit Card Use in the United States by Mandell) the author spoke very in depth about how certain studies that have been taken that show different things, such as how many families have credit cards and feedback they have given. Mandell spoke about how most people support credit cards even if they don't own one. One study was prominent in supporting my position on this matter, I quote from a study about benefits of having a credit card. 75% of respondents said "Credit cards made it too easy to buy things that they may not really want or that they can afford" which went on to say that they are good if you don't have money on hand but bad if you can't afford it at all. Now this study was taken in 1970 and opinions like this have gone up since then.

In 1970 almost 16% of households had credit cards, compared to now that was almost nothing. The use of credit started a trend of people who are ignorant of their spending to spend what they don't have in some cases. It has seemed as if credit card users look at their cards as "Debt instruments" than the tools for facilitating transactions.

In the article, credit cards and the problem affiliated with them are reffered to as the "debt puzzle". Now this article was written in 2008 so the information is quite recent. the author covers ideas from certain people who think that its not our fault we just need to spend money. Good ideas on how to help are brought up, such as people with credit cards should instead just have money readily available. Things like mortgages and such can't be paid with credit which helps bring up an important point that not all things can be solved with just credit.

"There is no role for credit", money may be more difficult and maybe worth a small amount less in our eyes but we need it more all the same. Credit needs to be more refined or harder to use I guess. I know we as humans now strive for simplicity but its almost too simple if that makes any sense. I feel like the use of credit goes well with the video we watched in class about the world wars that talked about when the economy/culture we have now is unneeded, we should have gone a different route. Credit is good and useful, but there are more problems than benefits.

thesis statement: Credit has changed out spending habits drastically in the last fifty years, it has made things easier to buy, and changed money into a less valuable asset.

revised thesis: The change our world has faced over the years with new subsistences and economics and the massive escalation of the credit supply and demand industry has been incredible, it has spread so fast and made life so much easier, but what are the cons of this change?

This illustration depicts the falling influence of credit cards over the global economy. After the major spread of credit card trends over the planet, they slowly began to show its long term effects. The growing debt from credit card users across the globe is slowly "drowning" the economy.

Angelova, Joe. "CHART OF THE DAY: Credit Card Debt Swallows American Households*." Business Insider. May 22, 2009. Accessed October 6, 2014.

Accessed September 8, 2014. http://creativefan.com/important/cf/2013/01/henna-tattoo-designs/sun-heena.jpg.

Bennett. "Avatar Humor Cartoon Credited." Avatar Humor Cartoon Credited. Accessed December 1, 2014. http://funny-pictures.picphotos.net/avatar-humor-cartoon-credited/s3.amazonaws.com*fiverr.com*deliveries*1440408*v2_680_459*digital-illustration_ws_1387991457.jpgquestionmark1387991457/.

image src: http://www.wereindebt.com/credit-card-company-reversing-fee/
Works Cited
revision #8 article citations

Jefferson, Cory. "Uncredited: I Dont Hate Credit Cards." Magazing.good. http://magazine.good.is/articles/uncredited-i-don-t-have-a-credit-card-and-maybe-you-shouldn-t-either.

Article citation

"Taiwan Credit Card Crisis." Seven Pillars Institute. Accessed September 22, 2014. http://sevenpillarsinstitute.org/case-studies/taiwans-credit-card-crisis.

Penzo, Len. "Len Penzo Dot Com." Len Penzo Dot Com. Accessed November 17, 2014. http://lenpenzo.com/blog/id812-no-im-not-cutting-up-my-credit-cards-maybe-you-shouldnt-either.html.

article citation

Irina A. Telyukova and Randall Wright

Revised question

Around the globe, why did the spread of credit card/any type of card spread so rapidly, where did this need for credit come from?

Book Citation

Mandell, Lewis. Credit Card Use in the United States. Ann Arbor: [Institute for Social Research, University of Michigan], 1972

"Could You Live Without a Credit Card? - US News." US News RSS. May 31, 2013. Accessed September 8, 2014. http://money.usnews.com/money/personal-finance/articles/2013/05/31/could-you-live-without-a-credit-card.

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Do you have a credit card? Probably, well if you do then your spending habits have probably altered since you got one. I know mine have even been altered with cougar cash. Spending is easier and you aren't able to just glance into your wallet and count the bills.

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they reduced the age because younger people thought that they needed an easier way to spend money. I agree with it because it teaches kids and teens how to be more responsible with their money via how and when they spend it

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I agree because then people would have to wait until they are the age limit to get the credit

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The age was reduced to help younger people get a head start. The idea is that people will spent responsibly and improve your credit score for larger purchases down the road like a car or house. In my opinion it should be a judgement call by the parent because if the person is spending irresponsibly then the parent should have the option to cancel the card.

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It was reduced because it would help kids understand how credit works and benefits them earlier on with their parental advice. I agree with this because I think it would help them with responsibility and other important character traits.

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It was to give kids a better feel for the real credit world with parents guidance. I do agree because people should have more freedom rather than restriction if they would like to ruin their credit before they are 21 then so be it .

I agree with Zach Cook on his view point kids can learn early on because of how common it is instead of just figuring it out later in life

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The age to possess a credit card reduced because it would help minors and younger adults to acquire responsibility. Most teens do not spend sufficiently and effectively therefore giving them the chance to do so with older guidance. I agree with this decision because it could help the "next generation" credit card users with building up a good/bad credit score depending on how they use it, and a early start on how to manage money.

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I believe the age got reduced because many younger kids are getting jobs and taking on actual responsibilities. They also could start paying for things themselves.

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I think the age was reduced to give young adults a sense of responsibility before they go out into the real world and try to figure it out on their own. No I don't think that reducing the age limit was a very good idea because students are very responsible with money because money burns a hole in their pocket and if they have a credit card and over spend they could go into debt before hitting the age of 20.

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Since credit is considered a necessity by many why did the age get reduced for the young to posses a credit card? do you agree or disagree and why?