Debt Bondage

Credit card terminal with a Visa credit card inserted, Author Basile Morin, (CC BY-SA 4.0 International)

There was a time not long ago when the poor were criticized for taking out credit cards in their children’s names.  Desperate people do desperate things.  Nonetheless, this was considered identity theft, and viewed as despicable [1]. 

By contrast, wealthier parents are now urged to add their young children – even toddlers – as authorized users on their credit and debit cards [2][3].  This is being marketed as a way to teach children the value of money, and develop a strong credit score for them early on. 

Bank of America, Chase, and TD Bank are among the financial institutions that allow parents to add children as authorized users on parental credit card accounts.  Several such banks (including the three named) have no minimum age requirement.

Theoretically, parents who give their children access to credit will closely monitor their children’s spending and, also, teach their children to repay the money borrowed [4][5][6].  However, this is by no means guaranteed.

Approximately 70% of American adults carry some form of debt.  That includes credit card debt, mortgages, auto loans, and student loans [7A].  Nearly 48% of credit card holders report carrying a credit card balance from month to month [7B].

A Debtor Class

Though young children do not understand money, they can be trained to spend it.  A two year old will happily swipe a credit card while her mother cheers her on.

It is not in the interest of banks to dissuade this type of behavior.  But it is in the interest of parents concerned for their children’s welfare.

Debt is a heavy burden, and can lead to a sense of hopelessness.  In the face of that we are training up a debtor class, a class encouraged to live beyond to their means.

Debt Bondage

“The rich rules over the poor, And the borrower is servant to the lender” (Prov. 22: 7).

Debt bondage is not a new thing, though the term may be new to Americans [8].  It is the pledge of services for the repayment of a debt.  Where the terms of repayment are not clearly stated or the debt is excessively large, the person or institution holding the debt has control over the debtor.

Debt bondage was practiced in ancient Greece and Rome, and is still widely practiced in India, Pakistan, Bangladesh, and Nepal notwithstanding legal prohibitions.  It is common in America’s brothels where sex workers are required not only to split their wages with the management but pay for room and board, clothing, condoms, and other items at exorbitant rates despite legal requirements to the contrary [9].  Continuously in debt, these women are effectively indentured to their employer.  Migrant workers are likewise vulnerable [10].

Is this the yoke we want to place on our children’s necks, a permanent debtor status?

A Cashless Society

“and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name” (Rev. 13: 17).

We are rapidly becoming a cashless society where physical currency is replaced by electronic payment methods like credit cards, debit cards, and digital wallets [11]. 

This may seem a simple matter of convenience.  But the shift makes all of us more vulnerable to control by a centralized authority capable of tracking and regulating our access to credit.  Credit card companies and vendors already track our purchases, and generate ads geared toward our particular needs and interests.

We assume that the intentions of these large, faceless corporations are benign, that the convenience to us is worth the sacrifice of our privacy.  That is naive.  There may not yet be a coercive centralized authority.  But corporations are run by human beings who are, themselves, subject to pressures, temptations, and biases.  Christian organizations are today being debanked [12][13].

The Book of Revelation warns us that buying and selling will be severely restricted in the last days.  We are moving ever closer to that scenario.  Indoctrinating our children in the use of credit is, in this writer’s opinion, another step in that direction.

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[1]  Law Offices of Thomas C. Mooney, “Is it a crime to take out credit in your child’s name?”, 4/18/23,   https://www.mooneyesq.com/blog/2023/04/is-it-a-crime-to-take-out-credit-in-your-childs-name/.

[2]   CBS News, “Parents are authorizing their young kids, including toddlers, on credit and debt cards.  Here’s why.” by Ash-har Quarashi, 6/11/25, https://www.cbsnews.com/news/parents-authorize-kids-credit-debit-cards-credit-score/.

[3]  Wealthfit, “Credit Cards for Kids:  How to Jump-Start Your Kid’s Credit Score” by Amy Blacklock, https://wealthfit.com/articles/credit-cards-for-kids-how-to-jump-start-your-kids-credit-score/.

[4]  Bankrate, “Should I get a credit card in my child’s name?” by Holly Johnson,   5/9/25, https://www.bankrate.com/credit-cards/advice/credit-cards-for-kids/.

[5]  Charles Schwab, “Helping Teens Use Credit Wisely”, https://www.schwabmoneywise.com/teaching-kids/using-credit-wisely.

[6]  Synchrony, “8 Lessons to Teach Your Kids about Credit Cards” by Tamar Satov, https://www.synchrony.com/blog/bank/teach-kids-use-credit-wisely.

[7]  Motley Fool Money, “Average American Household Debt in 2025: Facts and Figures”,   https://www.fool.com/money/research/average-household-debt/.

[8]  Wikipedia, “Debt bondage”, https://en.wikipedia.org/wiki/Debt_bondage.

[9]  New York Post, “Sex worker stars of HBO’s ‘Cathouse’ expose ugly truth of living at Nevada’s notorious Moonlite Bunny Ranch:  Disgusting and horrific” by Andrew Court, 6/11/25, https://nypost.com/2025/06/11/lifestyle/sex-worker-stars-of-hbos-cathouse-expose-ugly-truth-of-living-at-nevadas-notorious-moonlite-bunny-ranch-disgusting-and-horrific/.

[10]  End Slavery Now, “Bonded Labor”, https://www.endslaverynow.org/learn/slavery-today/bonded-labor.

[11]  Corepay, “Cashless Societies:  Which Countries Are Making the Switch?”, 12/31/24, https://corepay.net/articles/cashless-countries/.

[12]  Guidestone Finance, “Defending Against Debanking:  Protecting Christians from Financial Discrimination”, 4/4/25, https://www.guidestonefunds.com/Insights/Articles/Defending-Against-Debanking-Protecting-Christians-from-Financial-Discrimination.

[13]  Montana Dept. of Justice, “Attorney General Knudsen demands action from Bank of America to correct debanking practices”, 4/18/24, https://dojmt.gov/attorney-general-knudsen-demands-action-from-bank-of-america-to-correct-debanking-practices/.

READERS CAN FIND MY VIEWS ON ABUSE AND ABUSE-RELATED ISSUES AT ANNA WALDHERR A Voice Reclaimed, Surviving Child Abuse
https://avoicereclaimed.com