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As a parent do you think age matters when it comes to helping your son/daughter with the decision to open a credit card account for the first time?

 
Anonymous

Asked by Anonymous at 7:50 AM on Sep. 29, 2010 in Parenting Debate

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Answers (14)
  • Kids and credit cards? Bad idea. I believe that kids should be a graduate of a 2 or 4 year college and be gainfully employed ---in othe words,a career with a good salary, living independently from family, BEFORE applying for a credit card. There is no reason for a kid to have credit ....none at all.
    gertie41

    Answer by gertie41 at 10:22 AM on Sep. 29, 2010

  • Maturity and responsibility is what matters IMO. And having a job to pay for the charges.
    Congenial

    Answer by Congenial at 7:53 AM on Sep. 29, 2010

  • I think age has nothing to do with it...its much more based on responsibility and maturity level. But with that said...i think parents should teach kids how to use these things VERY appropriately....make it a habit to pay it off every month.

    I learned my lesson at about age 17 or so...I got a card from an expensive cloths store and bought one very expensive outfit on it....I was stuck paying the balance off for months and didnt even like the outfit much when I got it home....it only took me one time to figure out that wasnt a good idea! HAHAHAHA
    mom2twobabes

    Answer by mom2twobabes at 8:17 AM on Sep. 29, 2010

  • I agree with Congenial....In my opinion, credit cards are the worse decision for a teenager...or anyone for that matter. I would stay away from them. If they have a job, then let them open their own bank account or you open one for them that is only theirs to use. The majority of the people who are in debt/bankruptcy right now is due to credit card debts.
    2wndrfl_btrflys

    Answer by 2wndrfl_btrflys at 7:59 AM on Sep. 29, 2010

  • Yep - age and level of responsibility matter greatly. Teenagers have no business having credit cards. A person shouldn't get one until they have a stable job, a direction in life, and the discipline necessary to handle it. In short, if they need their parent's help to get a credit card, I don't think they're mature enough to have one.
    Dr.Donna

    Answer by Dr.Donna at 8:02 AM on Sep. 29, 2010

  • I will discourage my DD from getting a CC for a while. I got one at 18, and did pay it at first, but then got ahead of myself. I've been in lots of debt in the past, and it is NOT GOOD. I want to teach my kids better than that/ CCs can be VERY bad.

    Anonymous

    Answer by Anonymous at 8:17 AM on Sep. 29, 2010

  • At 18 I got my first CC and by 19 I had 8. I was paying them off until I realized that they were a terrible idea and I had them all paid off by the time I was 25. CC are a terrible idea for anybody at any point in time. I would discourage a person from getting one. There are many other ways to build your credit. BTW if you don't have enough money to purchase what you want then you didn't need it in the first place.
    coala

    Answer by coala at 8:47 AM on Sep. 29, 2010

  • Nope. At any age credit cards are a huge rip off and waste of money. Why would you really want to pay THAT much more for things? Credit cards prey on impulsive impatient people who are bad at math.
    coder_chick

    Answer by coder_chick at 8:10 AM on Sep. 29, 2010

  • I think you should start teaching about credit, budgeting and money when your child is young so that when they think they want a credit card they will be ready for it.
    Mommy2Gabrielle

    Answer by Mommy2Gabrielle at 9:01 AM on Sep. 29, 2010

  • Credit cards are a bad idea! Check out Dave Ramsey. They should learn you canonly buy what you have the cash for...debit cards are great!
    ria7

    Answer by ria7 at 10:44 AM on Sep. 29, 2010

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