I wouldn't say protective vs more holding you back. People don't want to sign contracts with minors because minors do not have to hold their side of the contract and it's been like that legally for a long time.
So thats why you make legal age something sane so people who are currently "minors" but are actually 18(or whatever age is best) can move out and grow up. I mean really, people in British Columbia, who are 18, can be charged as an adult and can enter the military but they can't get a credit card? I don't know what the situation is like in other areas, but in BC, at least, its insane!
