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The simple answer to this question is "no". However, rarely are simple answers demanded from life, let alone forums for discussing finances, debt and credit. The question must be qualified, especially because "teen" may refer to your son in grade eight, as well as your daughter starting college. I applied for and received my first credit card in my first year of university; I was eighteen.

Young teens, those still in high school, should not have credit cards. I have heard the argument for responsibility and I approve of it. However, being responsible may include getting a part time job, starting a savings account, and / or paying bills. While I lived with my parents I was not asked to pay rent; however, when I wanted my own phone line, Internet connection, and cell phone, I was responsible for paying those bills. In that way, I learned responsibility and the value of money. I also began building credit by having bills in my name and paying them on time.

My familial background was not one of wealth. As such, when I decided to move out of town to attend University, I was forced to apply for a student loan. I quickly learned how to budget and the necessity of saving your pennies. When this was still not enough, I began to work part time. When this was still not enough, I applied for a credit card. This was a terrible decision on my part, and I have since learned from my mistakes. Looking back, my decision to get a credit card was not based on need, but on want. When you begin to make your financial decisions based on want, you begin the dangerous spiral of out of control debt. Seven years later, I am still paying for my mistakes.

Building your credit does usually require putting yourself into debt at some point, but there is a smart way to achieve this. First of all, student loans are wonderful for your credit rating, and they are typically low interest with a variety of payment options. If you can't afford your college or university lifestyle without some financial help, consider a small student loan instead of a credit card. My next suggestion is to only buy what you can afford. If you do decide to get a credit card, make sure that the purchases you make are based on need, and that you will be able to pay back the full amount before the due date.

Essentially, when it comes down to it, credit cards should not be an option for anybody who still has not learned to distinguish the difference between what is necessary for a standard of living, and what is simply icing on the cake. A teenager in high school should never have to make these decisions on their own, and therefore should not have their own credit card.

Learn more about this author, Monique Nelson.
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