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Asked about “Credit Cards: Tips, Tools ”

Right Age for First Credit Card

What is the earliest age you would recommend your kid to have a credit card? Would you stipulate that she has a steady job or a steady source of income (other than her parent, that is) first? 


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No age limit but capacity limit.

When I say capacity, I think that the person must prove, via a quizz by example or another test, that he (or she) knows the rights and the obligations attached to a credit card. So, a person who is major will not have necessary have the right to have a credit card. The consummer must be protected.

Credit cards providers would be have the obligation to maintain and finance a site with all the decisions of the jurisprudence in this domain and communicate this information with the card if they decide to give it.
Posted 2008-07-16T07:54:26Z
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Rated #152 out of 155
 

Maybe when our kid turns 21!  Depending on your kids age and maturity, I would start getting money games like from "Consumer Reports" and "Dave Ramsey" they have games that teach kids in a fun way about money, credit and as Spider Man would say "With Great Power come Great Responciblity" I did this in order for my kids to come back to me and say "Hey Pop help me pay off my credit cards"

Good Luck
Posted 2008-07-18T20:37:33Z
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Rated #16 out of 155
 

When they are at least 18 years old and have a job to pay off the credit card!
Posted 2008-07-19T00:15:40Z
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Rated #17 out of 155
 
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A kid with a credit card,mmm not usually a good idea.  First start teaching them how to handle money at an early age.  Usually around the time they first ask for something at a store.  If the allowance is $10, they have to put $2.50 into savings right off the bat.  Then they have to manage the rest for that "Pay period."  As for giving them a c/c - I didn't and wouldn't.  My son earned his own c/c working and had a debit card.  He had a savings account that I opened when he was a year old, he made regular deposits of 25% of his income (allowance) and then as a teenager he had a summer job and did the same.  The rest went into a checking account.  He is very frugal and if he can con his old mother into paying for something he will do so before spending his own hard earned money.  l0l  Seriously tho, every kid is different.  It's up to you his/her parents to teach them to handle money.  Mine is 24 and still won't buy on credit.  He has the credit, just chooses to save and buy with cash. 
Posted 2008-07-19T00:58:29Z
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It really depends on how responsible someone is.  Probably 21.
Posted 2008-07-19T02:14:35Z
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Rated #18 out of 155
 
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When they get a job and are on there own!
Posted 2008-07-21T17:36:10Z
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Rated #5 out of 155
 

Only a prepaid card once they have a job.
Posted 2008-07-23T03:13:53Z
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Rated #19 out of 155

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