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It depends on what they are used for, and how they are paid off. If a teen is responsible, and has a card for such things as gasoline, or school purchases, and understands that the card is an important financial obligation of his or her parents, it might be feasible.
The problem is that most teens have little experience with spending money they don't have, and may not fully realize that impulsive or unauthorized spending can have a major effect on a family's budget.
Ideally, credit cards used by teens should have a very low credit limit to avoid problems.
Teens can benefit from having a credit card to start building their credit history early, but it's crucial for them to understand responsible credit card usage. Parents should closely monitor their teen's spending and provide guidance to prevent accumulating debt. Overall, it can be a valuable learning experience if managed properly.
Only, if they have their own money, can pay off their bills and properly understand how to use a credit card and not think of it as a continuous stream of money. They should understand that it should only be used as a convenience and if they know they will be able to pay their bill when it arrives.
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Why shouldn't teens have credit cards?
they should not have a credit card because thay can get in to over $42,000 debt
Why should parents take away the credit card from children?
A person should only need a credit card if they spend large amounts of money (i.e., +$100) on a regular basis. For example, if a 35-year-old mother goes food shopping every Saturday, it is very inconvenient to carry +$300 in cash everywhere. There is risk of having it stolen or lost, and it is more secure to use a credit card. For parents, the credit card is an almost necessary part of life. But for children and young teens, who do not spend money on food, electricity bills, car insurance, etc., there really is no need to have a credit card. Credit card debt is also another issue. Adults know that if they get into credit card debt, they will have nobody to bail them out. But children and young teens still need care from their parents. They know or assume that if they get into a fix, their parents will get them out. And who pays the overdue bills? Parents. Children and young teens are not responsible enough with money to have an infinite amount at their disposal that they have to pay later. Adults use credit cards on a daily basis, but children and young teens do not.
Who should you call if a credit card company listed you as deceased on your credit report?
You should call the credit card company.
What should be your first credit card?
American Express. Beastly Credit Card.
Why are teens such a huge target for credit ca?
Probably because (a) they've never held a credit card before and - and therefore have no bad credit history and... (b) the card companies are always looking for new customers.
After scanning a customer's credit card the machine tells you to confiscate the card What should you do with the customers credit card?
After scanning a customer's credit card, the machine tells you to confiscate the card. What should you do with the customer's credit card?Call the bank that issued it immediately. The telephone number is on the back of the card.
What age should one have to get an Icici credit card?
Someone can get an Icici credit card starting at age 18. Age should not be the main consideration when getting a credit card. Credit history and responsibility are important.
Can I get credit cards after bankruptcy?
It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.
After scanning a customers credit card the machine tells you to confiscate the card What should you do with the customer's credit card?
destroy it
After scanning a customer's credit card the machine tells you to confiscate the card What should you do with the customer's credit card?
Keep the card , and or destroy it .
What is a credit card number for the game fantage?
it should be your own credit card. you can't use others credit card! or if you do that you will be permanently banned from fantage
How do you create an Apple ID without a credit card?
The last option on the credit card choices should say something like "No Credit Card "
