I'm in my early twenties and have to agree with much of what has been said in this thread. Many young people are only taught to get a credit card as soon as possible to build credit, but never taught how to responsibly budget, manage credit, etc. The only reason I have been such a responsible steward of my credit is because of these forums and what other resources I have been able to find online.
There are a few other factors at play, too. A lot of young people feel hopeless (about the state of the world, their odds of ever being homeowners, etc.), so they say "what's the point of having good credit/worrying about my score/managing debt?"
You also have lenders (cough cough Capital One) who are willing to give huge credit lines to people who may not be able to manage them. It still shocks me to this day that Capital One gave a guy with a 3-month credit history with a card with a $300 limit a new card with a $3,000 limit. It definitely seems like they were hoping I would mismanage it and then they could collect. Just my two cents on the matter.
Starting Score: EX8: 705 EQ8: 698
@Luminosa wrote:It still shocks me to this day that Capital One gave a guy with a 3-month credit history with a card with a $300 limit a new card with a $3,000 limit.
Too funny, I applied a few years ago for a SavorOne (now just called a Savor); I had a substantial income a fair amount of credit in the form of credit cards, zero debt, and credit scores all in the 800s; they saw fit to give me a $2,000 starting limit. 
@Horseshoez wrote:
@Kforce wrote:I am currently a few years into my 8th decade. (Math test for many)
LOL, 72?
Close, 73
In 4th year of 8th decade, subtract one from each for age.
Not sure what you get with the $100 myfico dollars you won. 
@Kforce wrote:
@Horseshoez wrote:
@Kforce wrote:I am currently a few years into my 8th decade. (Math test for many)
LOL, 72?
Close, 73
In 4th year of 8th decade, subtract one from each for age.
Not sure what you get with the $100 myfico dollars you won.
LOL. 
Good job! Unfortunately, in my experience, these days, you are the exception. Sadly, the hopelessness felt by many young people today is a reality. I wish you the best of luck, and perhaps you can convince even a few of your friends that may not be as financially diligent as yourself to educate themselves for the future. Believe me, time creeps up on you far more rapidly than you can imagine.
It is my general understanding that for the most part, Capital One prefers "mid-range" credit users. Not too low, but ironically not too high. Many people here get the, "usage too low" denial when requesting CLI's. However, if you max out the card, even if you PIF, they will deny you on excessive utilization. So, there's few ways to win with them...lol.
@indiolatino61 wrote:It is my general understanding that for the most part, Capital One prefers "mid-range" credit users. Not too low, but ironically not too high. Many people here get the, "usage too low" denial when requesting CLI's. However, if you max out the card, even if you PIF, they will deny you on excessive utilization. So, there's few ways to win with them...lol.
Ironically a few years ago when my wife and I were paying for airline and hotel reservations for a trip to the UK and Iceland, I handilly exceeded my limit on my Quicksilver card, and I was surprised when CapOne let the charge go through. I immediately pushed a payment from my bank to pay the card in full, and two weeks later, CapOne gave me an unrequested CLI of $3,000; go figure.
What a nice and unexpected surprise for you after your great vacation. Iceland sounds like a real adventure.
@indiolatino61 wrote:What a nice and unexpected surprise for you after your great vacation. Iceland sounds like a real adventure.
I was there a half-dozen times back in the 1980s, back before anybody had really discovered it; it was very different this time around, still wonderful, but prices were sky high. All in all, a great trip.
