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The question of whether or not teens should have credit cards could probably be considered on a case-by-case basis. Particularly conscientious teens will most likely be able to handle the responsibility that comes with having a credit card. But in most cases, teens are not ready for and should not need credit cards.

The only logical argument for giving the average teen a credit card is for use in emergency situations. In that case, the parent should have the statement mailed to their home, and check it every month. Every month the balance should be zero. If any emergency arises in which the teen needs to use the card, the parents should obviously know about it. This way there are no surprises when the statement arrives. And if even a single charge that isn't considered "emergency" shows up, the teen should have the card taken away.

Beyond that, though, teens simply should not need a credit card. Generations and generations of teens have survived with out them. Cash and debit cards should be more than sufficient. If a teen is absolutely demanding to have a credit card, you may have bigger problems than whether or not that teen is ready for one. Most likely, they are already developing bad spending habits. You may need to address that issue first.

The biggest reason that teens should not have credit cards is that they cannot yet fully appreciate the effect it will have on them later in life if they run up an huge balance. Most teens don't understand or care about their credit score. They are living in the moment and not yet planning for the future. And that's ok. Teens shouldn't be worried about buying a new car or a house. But at the same time, we shouldn't give them the tools to destroy their chances of doing these things later. Credit scores are very difficult to bring down. But they'll have to learn that the hard way after they ruin their credit score in high school or early college.

"You don't need a credit card," is another one of those parent-issued decries that anger teenagers. Of course, they think they're ready for one. We know they probably aren't. But like most of the lessons that parents try to teach their teens, it won't be fully appreciated until years later. So when they apply for a loan at age 27 and have a nice, clean credit score untarnished by some teenage mistakes, they'll appreciate why you didn't let them have a credit card.

Learn more about this author, Sean Curtis.
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