23 of 61

Yes

Write now Article Tools

I believe in giving your teen a credit card it starts to teach responsibility. Try first with a prepaid card. Monitor their spending and see how well they behave with it.Remember you can always take it way from them. Refill if they have followed all the rules. They will have to earn a refill but try and not go overboard on the refill amount. Start small and work up as they show they can handle it.

If they enjoy having it and are old enough to work that may inspire them to start making money. Almost all teens need motivation. To at least get out and work to keep refilling the card. If you choose a regular credit card it may encourage them to keep up with the payments. On the other hand it is also really important to teach them about debt and not to do it. It can be exciting for a child to be able to go and purchase whenever they want. Remind them payments are due at a certain time and the amount of them.

If a teen is irresponsible with a credit card for instance, buying friends things or just using it not for their benefit take it away. Kids love to be like and they will sometimes go to any means to impress someone. Teach what is they work for should be spent wisely.

When you open up a credit card account and add your child to it this actually builds their credit. Which this is great for when they start college. It is great to start out with some good credit in your name. That could be one favor you do for them without them knowing. Just add them and build their credit.

Now there should always be limits. If you child is working have them pay the bill. If they are just starting out at a job agree to pay half the payment until the get on their feet. But remember to monitor especially if your name is on it. Do not want to ruin you credit.

Lots of credit cards offer rewards with every purchase. That would be a good motivator for your child. Shop and get rewards. You can also get them a card from a certain store they shop at. A clothing or electronic store. Remember this is responsibility not a privilege they brake a rule you set take it away. Have them earn it back with chores or staying responsible for a certain amount of time.

Learn more about this author, Sara Solansky.
Click here to send this author comments or questions.

Add your voice

Know something about Should teens have credit cards??
We want to hear your view. Write now!