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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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I would tell my kid that they better have a job and be able to apply for one and get approved for one on there own. No strings attached.
Posted 2008-07-29T18:13:38Z
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Rated #28 out of 155
 
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At least 35 years old.
Posted 2008-07-29T18:16:39Z
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Rated #6 out of 155
 

I agree that a child, (nor anyone really for that matter), needs a credit card. We should learn to save up for what we want and need. Live a modest lifestyle and only pay for what you can afford. I know that when I used to have a credit card, I would tend to purchase more because it didn't feel like I was really spending money.And most of the time we pay more for our purchase with the cost of interest added in if not paid off every month. I am paying off student loans, but other than that, I am debt free and love not having the stress of paying off credit cards.
Posted 2008-07-29T22:21:14Z
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Rated #29 out of 155
 

I would advise my children to NEVER have them. Theyare nothing but trouble and if you cant pay cash for it them you dont need it...
Posted 2008-07-30T00:08:36Z
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Rated #30 out of 155
 

I Had my daughter put on 1 of my credit cards at 15 almost 16 and gave her a cell phone. She was out a lot with her friends and I didn't want her to ever be stuck anywhere.  At 16 she got a part time job and was driving. I also got her AAA   You have to trust your child to be able to do these things for them.

She is now 21 and has better credit then me and owns her own condo, which she bought for cash.  Glad I only had 1 kid  :)
Posted 2008-07-30T00:23:15Z
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Rated #32 out of 155
 

If someone hasn't qualified for a commercial card where they ruin their own credit rating if they screw up they don't deserve to have or use one.
Posted 2008-07-30T06:23:15Z
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Rated #33 out of 155
 

Having 3 boys myself, the oldest is 13.  I don't feel that they need a credit card because everything and anything they want, we as parents buy it for them.

I think it would be a good way to teach your child responsibility to have a credit card when they are old enough to apply for one one their own and pay their own bills.

God only knows that most of my credit cards are maxed out because of my kids and the things that they want but dont need.

 

 
Posted 2008-07-30T16:45:28Z
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Rated #34 out of 155

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