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Generally, no, I don't believe that teens should have a credit card. Overall, quite frankly, I don't think anyone should. If you're not careful and diligent they can mess with your credit rating and the temptation can be there to spend more on your credit card then is actually in your bank account. However, they have become a bit of a necessity.

It's not that I think teens aren't responsible enough to handle a credit card, but I do think that in our modern society where your worth is based on your monetary value and how many material possessions you have, parents have not equipped their youth to be able to budget and plan finances appropriately and to resist the temptation that is "acquiring possessions".

With youth working younger and younger (which is a whole other debate in itself), authority figures (such as parents and school administrators) should be seriously looking at implementing financial skills in youth. They need to be taught how to save money, how to create financial goals to work towards, and how not to spend more than you earn. With a credit card it is so easy to forget how much money you have to spend, and how much you are spending. It feels too much like free cash at times.

I also fear that with today's mentality of online shopping, it's a lot harder for parents to control what their children purchase.

A credit card can be a wonderful tool in boosting credit rating (if you're diligent in paying them back) and can come in handy for some purchases where cash or debit is just not available.

For a teen still in high school, I think an alternative must be reached. I have seen commercials for pre-paid credit cards, where the parents load the money on the card, the youth can use the card like a credit card to purchase products, and the parents can monitor the youth's spending habits. I think something like this would be an invaluable tool in teaching youth financial planning. It would grant teens more freedom in their spending, while keeping them grounded as they learn how to budget and save for items they wish to buy, all the while having a mentor (aka Mom or Dad)to keep an eye on what is going on.

Learn more about this author, Dorina Brown.
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