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With some reservation, I have to answer "yes" to this question. I would recommend one with a limit of no more than $300. A debit card would be a better idea if it weren't for the fact that credit ratings will play a huge role in the near future for any teenager. Thus, it's like most things in life; the earlier a person gets started, the more of a head start he has. Nevertheless, as the parent, I would insist on a number of stipulations.

First off, the teen would absolutely need to have a job and pay his own bills. The low credit limit would ensure that the debt could be paid off with a couple paychecks. In other words, let the teen see for himself that even the smallest error in debt management can deplete the supply or ready cash for weeks at a time. If a small balance can wipe out a small paycheck, a big one can do the same for a person with the best of jobs. Nobody is exempt.

A teen with a credit card should be encouraged to do something that few of us adults accomplish: pay off the balance every month. There is a lesson to be learned from not doing so. Credit card interest rates are so high that leaving a balance for several months can result in payments that border on usury. What better example can there be that it's a good idea to pay one's bills on time?

There was a time when I would have voted no on this issue, but there are many places in which cash is no longer accepted. Try reserving a motel room these days without a credit card. The same goes for ordering items on the internet. We are rapidly heading for a cashless society, and teaching a teen how to manage debt is more important than ever. Honestly, I can't think of a better way of teaching somebody the value of the almighty buck. We learn by success and failure alike, so no matter how well the cardholder handles his responsibilities something will be learned.

Learn more about this author, T.C Leonard.
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