Cant he just have one with a savings or checking account.
2006-10-08 11:52:41 · 12 answers · asked by lukezzzzzz 1 in Business & Finance ➔ Credit
If you have a custodian account with your sons listed as a minor, I think you can each have a debit card in your own names. Talk with your bank.
2006-10-08 11:56:10 · answer #1 · answered by Chuckie 7 · 2⤊ 0⤋
people--a debit card is NOT the same thing as a credit card, and with a debit card he cant go over the limit cuz once its spent its deducted from the account and then future purchases declined, still not sure if a 14 yr old can have one without the parental signature. some banks have special kids accounts go down to your bank and check it out i repeat, GO DOWN TO THE BANK in person-dont bother calling the bank since this question will not be on the automated system and it will take 5 or 6 hours to press all the right numbers to get an answer.(besides you have to sign the signature cards in person anyhow)
2006-10-08 19:08:49 · answer #2 · answered by lil'rusty 3 · 0⤊ 0⤋
No, the card wouldn't have your name unless you choose to put in on there. You would need to have a joint account, but only his name would appear on the card. I did this with my mother at Bank of America and Washington Mutual when I was 15. I even received a check book. I would choose WaMu if there is one near you, since they have free checking.
Just make sure that you don't overdraft or money from his account will be used to make up the difference in yours, and that can make a child very angry.
2006-10-08 19:04:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I got a debit card with a savings and chequing account of my own when I was 15.
People, a debit card is not a credit card. With debit, you can only take out the amount that you currently have in your account, and no more. With a credit card you're spending money you might not actually have in your account yet.
2006-10-08 18:55:17 · answer #4 · answered by heaven_angels 3 · 0⤊ 0⤋
I don't know whether you're in the US or UK but I know for sure in the UK no-one really has a proper debit account until they are 16 and certainly not a credit card until they are 18 but I wouldn't advise the credit card full stop!
2006-10-08 18:59:31 · answer #5 · answered by *Care Bear* 4 · 0⤊ 0⤋
A debt card is a credit card right? Gotta be 18 for those
2006-10-08 18:57:35 · answer #6 · answered by PaulN 2 · 0⤊ 1⤋
Usually you have to be 16 to have a checking account in your own name.
2006-10-08 18:54:35 · answer #7 · answered by MOM KNOWS EVERYTHING 7 · 0⤊ 0⤋
Ohhh.....make sure to put a limit on how much he can take out. I've seen lots of people get into trouble......all the savings gone.
2006-10-08 18:56:50 · answer #8 · answered by Canadian Ken 6 · 0⤊ 0⤋
why not get him a prepaid card which are sold at most places.. then just put a certain amount on there..
then he cant go over but will learn how to control his spending
2006-10-08 18:55:31 · answer #9 · answered by ♥ Lisa♥ 5 · 1⤊ 0⤋
I believe it would have to be in both of your names. It's best to call the bank and just ask. They would be happy to help.
2006-10-08 18:54:36 · answer #10 · answered by dr_pepper_dreamr 2 · 1⤊ 0⤋