age for kids to get a "card"?

W

wcwbf

Member
i know some freak over the thought of going "cashless". real, filthy/dirty money ain't going anywhere, but people are using cards (debit/credit) and vendors are preferring cards for purchases. so when does a kid get a card?

i worked for several years with an autistic student. when we would go on field trips, he always had a card and knew how to use it... well, some guidance was required. we stop at Chick fila for lunch and he ordered about $20 worth of chicken fingers. we modified that order.

the HS store has card capability... bottle of water and bag of chips is less than $1.

i think if a student understands what they're doing, a card (debit) should be something to be familiar with... maybe as young as 10?? kid would have to understand the limits and always remember the PIN. no huge amount of money on card. if kid loses/misplaces debit card, would be difficult for a "finder" to use it.

what age do you think is appropriate?
 

I think the key to successful card management at any age is faithfully keeping track of what you’re spending with it ,even a check register or a notebook or something. I know an adult couple where the wife finally had to ask her husband to give up his card because he didn’t keep track, to the point of a NSF notice.
 
Super old-fashioned here... credit cards, debt, loans, mortgages, borrowing, payments... none of that should ever grace the plates of an individual that doesn't have regular income coming in and employment that's secure.
 

I suppose that it depends on the kid and the parent or grandparent.

IMO if a kid can use cash then they should be able to use plastic.

I think a kindergartner that can manage to take the bus and function all day in school should be able to understand and use plastic.

Keep it simple with a small gift card or reloadable fast-food card and help them understand how to make choices, safeguard it, etc...

Indie_arch_card.jpg


I wouldn't feel comfortable allowing a child to have an actual debit card or to be an authorized user on a family credit card until they were in their tweenage years and had developed a proven track record of being able to handle a much simpler POS card.
 
Why would the age you let kids have their own money be any different if you were using plastic. You can set up the card to pay out only 'X' amount., If you think about it, a card gives you a written record of the kid's purchases. Giving the kid cash doesn't. I haven't used cash in years, I've had absolutely no problem being cashless. Because of covid,, my hairstylist refuses cash. The kid is probably going to live in a cashless society, might as well introduce him to card use.
 
Son (21 yrs old) works part-time and uses my mastercard for purchases. He pays me back when the statement comes in and I get a cash back bonus. Works fine with me. He does have a debit card and has had one since he started work after finishing high school.
 
In Australia, you must be at least 18 years old to apply for a credit card in your name. This is the age you are legally considered an adult in Australia and, as minors can’t be held liable for contracts, only adults can apply for credit products. This policy is part of the strict lending rules that protect young Australians from accumulating debt they are not yet mature enough to take on.
However, a minor can be an authorized user on someone else's account.
 
Aunt Marg said:
Super old-fashioned here... credit cards, debt, loans, mortgages, borrowing, payments... none of that should ever grace the plates of an individual that doesn't have regular income coming in and employment that's secure.
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strongly agree. I think it's a supremely bad idea to allow anyone else (your own child or not) to use a card that's open ended and for which you will be responsible, except in some very exceptional or extreme circumstance. If a kid needs lunch money or bus money, give him money, but to let him routinely use your debit card is just plain nuts.
 
I think the younger you teach a child how to manage money the better. They will learn to respect it. I was given a bank account at 4 years old by my Gran who would come with me to the bank, which seemed like fun to a 4 year old. She would have to sign for everything pertaining to "my" money, but she taught me about money. It was a positive experience. I think a child can learn - with adult guidance.
 
"Money Management" is a skill that even many adults seem to have none of. If allowing a young person to have some limited access to credit helps them acquire a sense of financial responsibility, that may serve them well as they grow older. Of course, any such privilege should be closely monitored by the parents.
 
I can remember when it was very difficult for a woman, especially a married woman, to get a credit card in her name only. I was 26, making very good money in a very stable job. My husband was a full-time student working on his doctorate with a low-hour poorly-paid part-time job and I applied for a Master Card in my name. The bank issued the card in HIS name but was kind enough to give me another one to use. Of course it, too, had HIS name on it. 95% MY income, 100% HIS name. But that was how it was...….
 
i went away to college in 1492... way before debit or prepaid cards. i knew how to write checks & balance the checkbook. dad taught me and by the time i was maybe a jr in HS i paid all the household bills... HIS money of course. i thought it was SOOOOO cool and he probably did too cuz he didn't have to deal with it.

i went to college with a book of his checks. money (very little) that i made during summer went in there and that's all i had to spend. he found a bank (in DE) that had FREE checking with no minimum balance.

by the time i got to jr year, i often had a car available... trust 1968-69 VW beetle (brand new for less than $1400). dad gave me a gas credit card. i KNEW that didn't mean i could just fill up and drive all over NE PA... it was for emergencies.

have made some pretty stupid financial things, so i'll never "preach"!
 
Back in the 80s my kids and I lived not very far from Aspen, Colorado, where I worked at one of the ski resorts. Lots of wealthy families had winter homes there and I saw kids as young as 9 and 10 using their own debit cards for snacks and various rentals and stuff. They acted like it was something they did every day...because it was.

I didn't yet have a debit card!
 
wcwbf said:
i went away to college in 1492... way before debit or prepaid cards. i knew how to write checks & balance the checkbook. dad taught me and by the time i was maybe a jr in HS i paid all the household bills... HIS money of course. i thought it was SOOOOO cool and he probably did too cuz he didn't have to deal with it.

i went to college with a book of his checks. money (very little) that i made during summer went in there and that's all i had to spend. he found a bank (in DE) that had FREE checking with no minimum balance.

by the time i got to jr year, i often had a car available... trust 1968-69 VW beetle (brand new for less than $1400). dad gave me a gas credit card. i KNEW that didn't mean i could just fill up and drive all over NE PA... it was for emergencies.

have made some pretty stupid financial things, so i'll never "preach"!
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In 1492?

Back when Christopher Columbus sailed the ocean blue? :)
 
I strongly agree that kids need to be taught about responsible handling of money at as early an age as possible. But it needs to be THEIR money they manage, not money gotten by access to a parent's account via debit card.

To really learn about money management, you have to have some skin in the game, IMO, and just having random access to mom's account via a debit card doesn't give them that. IMO the most fundamental lesson is "I have X number of dollars and it has to last till Friday. If I spend it all on Monday on doo-dads, I'm SOL the rest of the week and may have to do without lunch, walk instead of taking the bus, etc., because money doesn't just fall from the sky or from mom's debit card."

That's a lesson that many folks never learn.
 
Even if my daughters could get credit or debit cards on their own which I highly doubt they could it wasn't gonna happen in my home. I heard way too many horror stories about parents being ultimately responsible for their children's debts whether they cosigned or not. Those brats were lucky to have had savings accounts where half of their allowances were deposited into. More then I ever got but working for your betters gave you character.
 
wcwbf said:
well, i actually went thru school (k-12) with Betsy Ross. she lived 3 doors down from me and i was actually about 2 weeks older than she was.
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ROFLMAO!

You have to tell me your secret on living so long, WCW! :)
 

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