What credit or debit cards alow a twelve year old to own one?

Question

My daughter will be 13 in about two months and she would like a credit card, are there any credit card companies that a low a 13 year old to have a credit card under my name?

Answer 1

Sometimes this can be a good way for a child to learn financial responsibility. Most 13 year old kids are not responsible nor mature to have a credit card. The reason why credit card companies make a person be 18 before they can get a credit card is so that they are liable for the charges as well as the fact you are legally obligated to contract and if abused it can go on your credit report.

Yes there are "kid credit cards" out there; however, they are prepaid credit cards that parents have to apply for.

Visa offers VisaBuxx:
Visa Buxx is not a credit card. It’s a prepaid card that enables you to load the card online or over the phone and monitor spending, so you can work with your teen to review their spending habits.

If the card is ever lost or stolen, you are not responsible for any unauthorized purchases, making the card safer than cash. And it’s welcome everywhere Visa debit cards are accepted, so it’s perfect for schoolbooks, everyday errands, travel, and life’s little emergencies.

http://www.usa.visa.com/personal/cards/prepaid/visa_buxx.html?it=c|%2Fpersonal%2Fcards%2Findex%2Ehtml|Visa%20Buxx

I don't know of many other companies that offer something like this. Most financial insitutions make the person be at least 18 years of age.

You can try prepaid crdit cards, which have the same idea:
http://www.mastercard.com/us/personal/en/aboutourcards/gift_prepaid/issuers.html

You can find prepaid credit cards at most local financial instituions or at merchants.

Answer 2

Sorry. Bad idea. I don't care how smart your child is, they have a very difficult time comprehending money, much less if you give them "play money" in the form of a credit card. Abuse of credit and finances by young people is a major problem and sorry, but you are going the exact wrong way. I think you idea is irresponsible.

When I was a kid some people at a candy company thought it was a good idea to sell candy cigarettes, and I am sure some adults thought it was cute. I would say giving a child a credit card is the same thing.

Also you are putting her at risk, she will be scammed or robbed. Carrying $5 of lunch money is not the same as a credit card that a criminal might think is worth thousands of dollars.
She WILL show it off to her friends and an older teenager will hear about it and will take it.
Also you are putting yourself and your credit at risk, if she were to give the card to someone, which is perfectly allowed by credit card rules and law, and they were to rack up $2,000 of charges, YOU will have to pay. Or your identity information could be compromised. I am sure you are thinking of all sorts of reason why I am wrong, but I dealt with this many, many times. The credit card company is not going to just say sure, you were a nit-wit, OK we will eat the loss. You will have to pay for any charges.

Get your daughter a piggy bank and teach her how cash works and how bad it is to go into debt and over spend. That is a real life lesson and like the apple tree... will bare fruit every year, year after year. Take care.

Answer 3

Most banks and credit card companies will allow you to get a second card for someone else on your account. They don't care because you are responsible for all the charges. They will not let your daughter obtain an account in her own name and social security number because she can not be held legally responsible until she is 18. She may be able to get a bank account in her name but a parent or guardian must sign to allow it.

I hope you plan to teach your child good financial values and balance. Arguably a 13 year old with a credit card could be a recipe for disaster. If not now than down the road when she is all grown up and has no value for working for something. Or you are a swell person who plans on teaching your child responsibility at an early age. Whatever the case may be...

Good Luck

Answer 4

When you get her that credit card go ahead and give her a good bankruptcy attorney's number, she's gonna need it in about 5 years!

It takes adults years to realize that credit cards are not "free money" so why would you put that kind of responsibility on a 13 yr old? Shoot some adults haven't figured it out yet and you think she can... I'm sure you say "she's very mature for her age"
My question is this.. How can someone get their child a credit card when they can't spell allow?

Answer 5

American express has a great credit card that was/is designed specifically for kids.
It is a 'real' credit card but it is a pay as you go deal.
I do believe that it was intended for a one time only gift since there is a $5.00 fee to 'load' it.
They are available at walgreens in $25.00 denominations (that is the only amount that I have seen for kids anyway) but I would guess that they have them available on line....
They dont have the same 'credit card' protection as they are basically 'no interest savings accounts'. I guess my point is that if you get one of these in a higher amount, and it is lost, you have really made someone else's day as they offer NO protection if it is lost or stolen.
I hope your daughter has a happy birthday

Answer 6

Are you sure you want to give a credit card to a 13 year old, or is there something else going on here?

If she wants a credit card that badly, why not purchase a secured (pre-paid) credit card that you can continue to put money on when it's low? That way she has her card and you have enough control to keep your credit rating from being destroyed. Everyone's happy.

Answer 7

my first thought was gift card, also. actually i don't see any problem with a debit card (though i see a huge problem with a credit card). it's safer than having a kid drag along all their saved-up cash, which they'll probably just lose. i'm assuming the account is not loaded with huge amounts of money. my kids collectively have about $100, saved from all kinds of things over the years. whether they keep it in a piggy bank and bring lots of cash to the store when they finally figure out what to spend it on, or put it in a bank account and use a debit card doesn't seem to me to make any difference at all.

Answer 8

Why on earth would a 13 year old need a credit card?!?

Answer 9

Credit cards are not for 12 year olds. There are adults that cannot handle the responsiblity, and she is not 18 years old. You would have to have a credit account and add her name to it. Why would you think it is okay for her to have one? So she can tell all her little friends? She needs to be taught limits and boundaries, not be given everything that she asks for.

Answer 10

you can put her on your credit card as an authorized user. or you can go with a pre-paid card at a store, and you will not be surprised with a 500 dollar bill at the end of the month