How old do u have to be to own a credit card or debit card?

Answer 1

Owning a credit card is different than "holding" a credit card (or debit card).

I have an account with Wells Fargo that allowed me to provide my son a card as an authorized user. I do monitor the account closely to see how much and where money is being spent but keep a couple of hundred dollars in there per month for his expenses. In doing this, I stopped purchasing his clothing and providing lunch money!

I can track his spending habits and the calendar of events and put some extra money in there when the situation warrants it but I find HE spends less when he considers it his money than when he asked me for MY money!!! Win-win!!!

He is learning responsibility, finances and budgeting and self-limits when he knows he wants something like a new ipod.

Answer 2

You don't "own" a debit or credit card.

My daughter has a debit card on a joint checking account I set up for her when she was 14. She also has a credit card in her name as an authorized user on one of my accounts.

You can purchase a prepaid debit card at any age.

You have to be 18 to obtain a credit card that is only in your name.

Answer 3

18

Answer 4

18