Credit Card for Teenagers

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Replied by Meya on topic i agree sis so send

i agree sis so send your niece one of your cards

Suuuuure sis, just send me your address so that I can re-route the statements to you...lol
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Yes Dillards does have something like that, it is just linked up to your account. I will be a fool to link my account to a teenager at a store like that. I think their bras are $60, we dont want to talk about the shirts and pants.
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11 years 5 months ago #16

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Replied by pamela2 on topic i agree sis so send

i agree sis so send your niece one of your cards :cheesing: jk but doesn't Dillards have something like that and they let you use half of your credit limit????? to give to your teenager???? :dumbfounded:
11 years 5 months ago #17

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Replied by Meya on topic True, true, ture HJM, but

True, true, ture HJM, but what I think (from my assumption) is that we should expose these kids with credit along with real statements and show them how it really works! Pre-paid does seem like an excellent idea, but why put ourselfs in a trap where we have to pay apr's and finance charges on our own money? We might as well let hem use our sock-drawer cards but make sure that we can back it up. What do you think?
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11 years 5 months ago #18

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Replied by hjm331 on topic Leighdu, that's a good idea

Leighdu, that's a good idea to give someone a prepaid card so they'll know how to use credit wisely. They should also be declined for not having enough funds in their card so they'll feel embarassed and learn that they can't get everything they want with a debit/credit card, it is not their pathway to everything they desire. That is how I would teach my children.
11 years 5 months ago #19

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Replied by leighdu on topic My sister is thinking that

My sister is thinking that she should get my nephew his own credit card, so that he can purchase anything that he wants with it. He has asked me on this matter, but I don’t have any idea on this, so I’m writing this thread to search for a good answer.


My suggestion would be a prepaid card. Of course these types cards will not do anything to build credit, but the amount your nephew can spend will be controlled. I know it was a mistake for me when I was younger to get my own credit card. I wish I had waited until I was a bit older.
11 years 5 months ago #20

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Replied by liowkc on topic If you can really provide

If you can really provide regular supervision, by all means do it. But remember that failure to do so is not merely the depletion of allowances but the beginning of credit card debts. If so many American adults are in credit card debt, what can u expect from kids and teeenagers?
11 years 6 months ago #21

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Replied by hjm331 on topic As soon as I graduated

As soon as I graduated from high school last year, I decided that I wanted to get a credit card of my own. I applied everywhere and racked up inquiries without knowing what's the result of having too many inquiries. My parents didn't help me out by teaching me about credit so that's why I learned everything I know here on FG. I owe it all to you guys, I started out with a Cap1 card with a $500 CL and now I have an AMEX card with a $1k limit with my credit history being 7-8 months old. Thanks everyone!
11 years 6 months ago #22

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Replied by jnjsarauer on topic I love the idea of

I love the idea of a teenager having a credit card if it there is strong supervision included. Most kids don't get an education on how credit works and are unprepared when they get out on their own and have their own cards. If you can get them a card with a low credit limit while they are under your roof, it gives you the opportunity to teach them about the importance of paying it off monthly, watching due dates, etc.
11 years 6 months ago #23

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Replied by liowkc on topic my daughter is 14 and

my daughter is 14 and she would love to have a credit card from rue21 and Aeropostale (i think i spelled that right if not sorry) so i buy those loadable cards for her and she uses


If your 14 year old daughter is really financially savvy (which I doubtful for kids at her age), then by all means let her have a credit card - it is a great way to teach financial responsibility. If not err on the side of caution.
11 years 6 months ago #24

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Replied by pamela2 on topic my daughter is 14 and

my daughter is 14 and she would love to have a credit card from rue21 and Aeropostale (i think i spelled that right if not sorry) so i buy those loadable cards for her and she uses them alot. so i say buy the ones you can put money on or the ones that already have a set limit and see how they manage the limit on it and then take it from there.
11 years 6 months ago #25

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Replied by hjm331 on topic Postman, that is exactly why

Postman, that is exactly why I don't buy anything on my credit card if I don't have the money to back it up. I have to have the money physically like at home or in my wallet. Direct deposits and paychecks don't count because there's a possibility that it will backfire.

Remember, use your credit card as if it were a debit card. If you don't have the money, don't buy it so you won't "overdraft" so to speak.
11 years 6 months ago #26

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Replied by Postman on topic If adults cannot be trusted

If adults cannot be trusted with credit cards, teenagers shouldn't be allowed to hold credit cards. The credit cards companies and banks are simply exploiting people who does not understand how credit card really works.


You’re probably right. I heard that a lot of adult has become bankrupt because of credit cards. One of my cousins has a credit card and he had used it for everything that he wants to buy. Until one day, he was out of his job and found himself broke. He doesn’t even know where to get the money from.
11 years 6 months ago #27

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Replied by porgy1000 on topic If you give MOST teens

If you give MOST teens a credit card you are setting them up for a failure along with future sub prime cards for them after they fail.

There are a few exceptions to the rule. I doubt that hjm will fall into that route but he is one out of probably 100.

Teens should be given a CREDIT and credit card course before they are issued any credit card. I remember back in college, all my friends defaulted on their cards I worked overtime to keep mine current. Thank god I did :cheesing:
11 years 6 months ago #28

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Replied by Meya on topic Does the nephew have a

Does the nephew have a job or allowance? I have a similar story, my nephew is 11 and I let him use my target card when we are out shopping together. I do not let him go over $75 and he pays the payments on them with his allowance money. Lately we have not been using the card because he get better deals at EB games and Game Stop. Depending on how your nephew is being exposed to credit, I will say that it is a responsible and great way to teach kids about credit, but it is not something that you would want to do for fun.
11 years 6 months ago #29

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Replied by liowkc on topic If adults cannot be trusted

If adults cannot be trusted with credit cards, teenagers shouldn't be allowed to hold credit cards. The credit cards companies and banks are simply exploiting people who does not understand how credit card really works.
11 years 6 months ago #30

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