I'm young myself (I'm 26) and didn't get my first credit card until I was 21. I understand that they're trying to protect our "youth," but I also don't entirely agree with it either. Only reason being that this country recognizes 18 year olds as "adults" and can be legally bound to a contract in every other aspect, i.e. auto loan, personal loan, etc. Therefore, they should be able to apply for credit. (On a tangent, I compare it to those who can serve our country at the young age of 18, but cannot have a glass of wine at their wedding if they get married at age 20).
Starting Score: 703
@Anonymous wrote:
I personally find this new set of laws to be unfair in the aspect that it will discontinue the use of credit card issuance to people below 21. While it's true that people under 21 can still apply but will have to go through a lot of extra hassle and will even need a co-signer to get one. I find this to be discriminating. I'm 18 years old and my score from TU is 756 and 718 with EQ. I am responsible with my credit and I don't see why I have to be punished just because a lot of my peers are ignorant or are downright stupid when it comes to using credit. I thought I was going to take it slow to develop my credit but seeing the deadline being Feb 22, I can't. So I ended up applying for two AmExes today (Platinum, and Clear) which I would've waited at least 6 months to a year to do. While I was instantly approved for both, I know this will definitely hurt my credit score once the inquiries show up on my report. I surely do agree with the part where card issuers aren't allowed to go to college campuses and give out free stuff to bribe students into getting credit cards I really don't like how they want to shut out under 21s altogether. Instead of increasing age limits and lowering standards on everything the government is practically increasing the degradation rate of this society. They should just work on educating people instead. Without me researching and reading for countless hours i'm sure I wouldn't have achieve the scores I have now at only 18 and a half.
while i'm ten years older, than you, i do agree with you somewhat. but i can't agree with the last part. unfortunately, not everyone has the motivation to do the same sort of research you did, so as usual, the majority will have to pay the price for the minority. we may as well get used to it; it seems that's really how most things work in the world, sad to say. 
I don't like the new rules either. What if a very responsible student is studying full-time, is unemployed and they don’t want a co-signer because his/her parents provide them with sufficient funds each month to pay bills or other expenses?
@Anonymous wrote:
I feel it's the bad apple spoils a bunch situation as the majority of youths have proven themselves to be irresponsible with credit. As you may be responsible but the rest that aren't or weren't spoiled the bunch. Same with the housing situation that us responsible adults seem to be paying for now even though we didn't take out risking mortgages etc....the one's that did.... spoiled the bunch, now we are all paying for it.
& BOY are we paying for it 
I just tried the pre-approval option with Bank of America for the fun of it, and was given: "You must be 21 years of age." It looks like the new rules are already in effect with them. I wonder what will happen to those “College Credit Card” applications. Um....?
