Credit-card companies used to dole out cards freely to young people, but not as much anymore.
Getting a credit card is on the to-do list for many young adults. But if they don’t have much income, it might be more difficult than they think.
Credit-card companies used to dole out credit much more freely than they do today, marketing aggressively to young people to entice them to apply for cards. Those practices changed following passage of a federal law in 2009 that imposed various restrictions on credit-card issuance to minors and students. While the goal was to rein in excesses in credit-card issuance, it also made it harder for many young people to qualify for credit.
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