Now Barclays Wants to Give Children Credit Cards
Revill, Jo, The Evening Standard (London, England)
Byline: JO REVILL
THE head of Barclays has revealed that the bank is keen to extend credit cards to children - despite fears that it could land youngsters with thousands of pounds of debt.
Chief executive Matthew Barratt told a committee of MPs today: "The net present value of the baby in the cradle is quite attractive."
Asked whether it would be a good idea to offer credit cards to young people, who might not understand the financial implications, Mr Barratt said he wanted to provide "low-level credit card capability" on a "controlled basis". He did, however, admit: "It is a safety issue. You would exclude anyone without the ability to pay ... you would …
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Publication information:
Article title: Now Barclays Wants to Give Children Credit Cards.
Contributors: Revill, Jo - Author.
Newspaper title: The Evening Standard (London, England).
Publication date: May 14, 2002.
Page number: 7.
© Not available.
COPYRIGHT 2002 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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