Illinois Compiled Statutes
815 ILCS 140/7.2 (2026)
No credit card issuer shall issue, provide, assign or deliver in any way a credit card account to and in the name of any person under the age of 21 unless the person has submitted a written application and the credit card issuer has: (1) financial information that the person has an independent ability to make the required minimum periodic payments on the proposed extension of credit; or (2) financial information that a cosigner, guarantor, or joint applicant who is at least 21 years old has an independent ability to make the required minimum periodic payments on the proposed extension of credit, and a signed agreement of the cosigner, guarantor, or joint applicant to be either jointly liable for any debt on the account or secondarily liable for any debt on the account incurred by the person before the person has attained the age of 21
✓ current as of May 2026
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(815 ILCS 140/7.2)
Sec. 7.2. No credit card issuer shall issue, provide, assign or deliver
in any way a credit card account to and in the name of any person under the age
of 21 unless the person has submitted a written application and the credit card issuer has: (1) financial information that the person has an | independent ability to make the required minimum periodic payments on the proposed extension of credit; or |
(2) financial information that a cosigner, guarantor, | or joint applicant who is at least 21 years old has an independent ability to make the required minimum periodic payments on the proposed extension of credit, and a signed agreement of the cosigner, guarantor, or joint applicant to be either jointly liable for any debt on the account or secondarily liable for any debt on the account incurred by the person before the person has attained the age of 21. |
Upon delivery of a credit card account to and in the name of any person under
the age of
18, the credit card issuer shall also include a pamphlet which details the
responsible use of a credit card, an explanation of applicable
credit limits, payment requirements and the penalties for the misuse and
fraudulent use of a credit card. This Section does not apply to a supplementary card issued to a person under
the age of 21 that allows that person to access a credit card account in the
name of a person over the age of 21 if the person over the age of 21 requested
orally or in writing that the supplementary card be issued to the person under
the age of 21.(Source: P.A. 96-1193, eff. 7-22-10.)
Notes of Decisions
Cited in 2
cases, 2000–2000 · leading case: In re G.O., 727 N.E.2d 1003 (Ill. 2000).
In re G.O., 727 N.E.2d 1003 (Ill. 2000). “We assume that adolescents lack the judgment and experience necessary to own a credit card (815 ILCS 140/7.2 (West 1998)), get a tatoo (720 ILCS 5/12–10 (West 1998)), consume alcohol (235 ILCS 5/6–16 (West 1998)), or drive an automobile (625 ILCS 5/6–103 (West 1998)).”
In Re Go, 727 N.E.2d 1003 (Ill. 2000). “We assume that adolescents lack the judgment and experience necessary to own a credit card (815 ILCS 140/7.2 (West 1998)), get a tattoo (720 ILCS 5/12-10 (West 1998)), consume alcohol (235 ILCS 5/6-16 (West 1998)), or drive an automobile (625 ILCS 5/6-103 (West 1998)).”
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