Okay, it’s been mentioned at my house–my daughters have asked why “since several of their friends have credit cards,” I don’t get them one! And, I do recall the day I was standing in line at the bagel/coffee shop and a teenage girl whom I recognized as having played soccer with one of my daughters a few years back was buying her super soy latte mocha with a credit card. I had mixed feelings about it. I have mixed feelings about it. I’m eager to find out what the rest of you think…
If I had my way, I would live a life without credit cards. I have been able to go for brief couple-year chunks of time without active credit cards and I am such a frugal simplicity-monger I work hard and yearn to live entirely debt free (darn those student loans!). So, I would really love it if my kids never came to depend on or use credit cards. It scares me. BUT, I also do have a couple credit cards out of the necessity of living in this modern Western world (I cringe writing necessity and credit cards in the same sentence!) and a very big part of me would rather my kids learned to use them responsibly and carefully.
I’ve read the books on how to prepare your kids for financial responsibility and many of them recommend getting your child a credit card in your name that you control, with a low credit limit, in order to teach them the responsibility and realities of credit. But, I’m concerned that is still sending them a message that credit cards are easy and handy for everyday use. I really don’t want to send that message. I do know that I would NOT encourage or let my kids get a credit card in their own name while they are still fledgling teenagers. We’re talking kids who forget to turn the burner off when they are cooking scrambled eggs here. I’d hate to have them make a financial mess before they even get to college.
So, I’m still mulling this one over. I’m guessing since we are such an opinionated and diverse group here at Families.com there will be some strong and persuasive opinions. What DO you think? Should a parent give their teenager a credit card, or allow their teenager to get one?
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