i wont to give my 12 year old sister a credit card they asked if i wonted to add some one so i said yes, i gave the name and it came in the mail i thought i was done. now they are asking for ssn, employer, and income. can she legally get a credit card? if i send this in will she be liable for my charges? i think its great if she can gane credit early but will they not accept it? is there an option that will give her a credit card but no liabilaty? isnt the age 18 to sign into a contract?
2007-05-29 19:27:59 · 10 answers · asked by Brian D 1 in Business & Finance ➔ Credit
My goal was to add her to my account, so that I will take full responsibility for her purchases. It is intended for emergencies and internet purchases. When I gave it to her I explained all about spending limits and how much I was leaving her to spend and what ever she spends she would pay back. Before she uses it she calls me to let me know and it works out quite well.
2007-05-30 01:25:20 · update #1
Were you attempting to add her as a user on your credit card or trying to assist her in getting a card of her own?
2007-05-29 19:45:00 · answer #1 · answered by Phineas J. Whoopee 5 · 0⤊ 0⤋
First of all, I would not give a 12 year old a credit card, there is nothing that she needs that requires a cedit card. So I suggest taking it back from her.
though dont quote me on this, but I do believe most major credit card companys suggest that no one under the age of 18 will be able to sign.
You are stressing over somthing that dosent matter right now. When it comes time for her exit into the world from her family, then help her out. Right now though, she is 12 so let her act like one. Money is power also, and a 12 year old does not need that.
Also if you are trying to help her, then why would you give her a credit card so that she could have money at her despense. That is teaching her nothing, but how to look for a man with a lot of money.
If you really want her to have this card and it is possible, I would make sure that she works to pay it off on her own...
good luck...
2007-05-30 04:44:31 · answer #2 · answered by src8784 3 · 0⤊ 0⤋
I think that is the worst idea ever! No 12 year old should have a credit card, even a pre-paid one. You are helping her to begin the habit of spending money that you don't have and this spending is for free. Most people get into this habit only to find that they can't pay it back. This is why the world is in such debt. Teach her to save her money in a savings account, to buy the things she wants. Give her an allowance or pay her to help you do things. We don't need more people on credit.
2007-05-30 02:41:11 · answer #3 · answered by Twisted Maggie 6 · 1⤊ 0⤋
Credit cards are trouble for most people, giving one to a 12 year old to me just doesn't seem smart, if the card you gave her has the same account number as your card then the credit responsibility is yours and yours alone, if they are asking for more information on your sister its probably to get her an account of her own where as most companies will disapprove her having her own credit line.
2007-05-30 02:36:28 · answer #4 · answered by Russ 3 · 1⤊ 0⤋
Minors (Age 18 and under varying by state) may have a credit card. But they must have a parent/leagal guardian sign with them. Although it would be better to get a minor a debit (checking) card, which works like a checking account where you put money in first.
2007-05-30 02:37:25 · answer #5 · answered by Michael M 2 · 0⤊ 0⤋
It absolutely irresponsible to give 12 years old sister a credit card. Learn her to handle money and to save!
Don't give her a credit card!!!!
2007-05-30 06:52:15 · answer #6 · answered by Vampir V 3 · 0⤊ 0⤋
you will be responsible if they screw up... keep this in mind. my mom got one for me at 13 and i (thankfully) was very responsible. (she had to add me as a user not sign me up from when she opened the card was the only way to do it).... why teach your child credit cards? why not a prepaid card where they can keep track of their spending like a check book? this will help prepair them to only SPEND what they HAVE vs. pay it back later.
2007-05-30 02:36:42 · answer #7 · answered by teesquareddesign 3 · 0⤊ 0⤋
you must be 18 I work for a company that issues credit cards
2007-05-30 09:05:52 · answer #8 · answered by Michael M 7 · 0⤊ 0⤋
The only way for a minor is a pre-paid credit card.
2007-05-30 02:33:18 · answer #9 · answered by badbill1941 6 · 0⤊ 1⤋
Are you NUTS?
2007-05-30 10:15:24 · answer #10 · answered by lawmom 5 · 1⤊ 0⤋