mybestbanks.com

  • Latest
Menu
  • Home
Search
Follow us
  • facebook
  • twitter
  • googleplus
  • instagram
  • vine
  • youtube

Latest stories

Previous Next
  • Best National Banks In America for 2019

  • Top banks for checking accounts

  • The Bank of America Travel Rewards credit card

  • Banks with best CD rates

  • How to choose best banks for buisiness accounts

  • ADCB Credit Cards in UAE

Can Your High School Student Have a Credit Card?

by Steve L. Hatch Steve L. Hatch

1.2k
SHARES
ShareTweet

Most credit cards designed for students were created for college students – but can a high school student get a credit card? The short answer is: YES. The long answer would involve a lot of discussion!

As teenagers, many go out and get their first jobs, or are otherwise alert income from allowances or babysitting. It's the perfect time for parents to help them learn the basics of money management; which is something many families skip over; leaving graduating high schoolers to move on to college or the "real world" with very little real world knowledge of finances.

Just a few short years ago, it was not only next to impossible to give a teenager a credit card, but you would have considered a little on the crazy side to do such a thing! Times have changed though, and there are various credit cards on the market for teenagers that parents can use to help them learn the basics of financial responsibility.

Credit cards for teens include features like parental control and digital 'allowances'. It may be sweat-inducing to give your teenager a credit card, but it makes a good educational financial experience for your child- before it's too late for you to help them become financially responsible individuals:

Teach Them About Good Credit. With so many adults currently struggling to re-establish their credit or increase their income so it's easier to keep up with their monthly payments, it's never too early to teach teens how to manage money. Teaching them at a younger age can prevent them from over spending once they're on their own. Nellie Mae claims that the average freshmen college student has over $ 1,500 in credit card debt; and once a student realizes how easy it is to "get what they want, now", it becomes habit to use them to buy the things they want while in college. If the teenager enters the adult world with solid money management skills, they're less likely to get in over their heads in debt.

Your Options. If you're not concerned about your teenager establishing a credit history at this time, and simply want a way to teach the basics of money management, you can look for a prepaid debit card with a Visa or MasterCard logo. Some of these cards may have annual fees or transaction fees- which just gives you another opportunity to show how using a credit card is not the same as buying with cash. You could also sign your teen up for a checking account with debit card; or put them as an authorized user of an account you already have- or open a new credit card account with a low limit and put your teen on as a cardholder.

Gives Teen Access to Emergency Money. When your children become teenagers, chances are they are starting to spend more time away from you and on their own or with their friends. Sometimes they may have a need for cash- if a car breaks down and they need to be towed off the highway, or for long distance phone calls for example. Having a credit card in their pocket will make it possible for them to handle an emergency that requires access to money and can give you a little more peace of mind.

If you decide you are ready to teach your teenager the basics of money management and credit, make sure you spend some time researching the various options available to you before choosing an option. Regardless of which option you choose, you'll want to be sure to spend adequate time with your teenager and not expect them to know what to do with it on their own! Try using a service like Citibank's Credit-Ed program: http://www.citi.com/us/cards/cm/student/index.htm

Source by Debbie Dragon

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

See more

  • Previous article New banking technology in Tibet: withdrawing cash by facial recognition
  • Next article How To Transfer Mini DV To DVD

You may also like

  • 944 Shares

    Best National Banks In America for 2019

  • 675 Shares

    Top banks for checking accounts

  • 1.1k Shares

    The Bank of America Travel Rewards credit card

  • Popular

    675 Shares

    Banks with best CD rates

  • 1.1k Shares

    How to choose best banks for buisiness accounts

  • 674 Shares

    ADCB Credit Cards in UAE

More From: 0 credit card offers

  • 674 Shares

    ADCB Credit Cards in UAE

    by Steve L. Hatch Steve L. Hatch August 9, 2018, 12:12 am

  • 539 Shares

    SunNet Online Banking Overview

    by Steve L. Hatch Steve L. Hatch August 8, 2018, 11:35 am

  • 1.1k Shares

    Tips for Credit Card Casino Deposits and Withdrawals

    by Steve L. Hatch Steve L. Hatch August 8, 2018, 5:16 am

  • 943 Shares

    SIGNIFICANCE OF THE EARNINGS RECORD | FOREXNEWS2220

    by Steve L. Hatch Steve L. Hatch August 7, 2018, 4:41 pm

  • 808 Shares

    Safe as houses: HVB online banking

    by Steve L. Hatch Steve L. Hatch August 6, 2018, 6:36 pm

  • 808 Shares

    Best Secured Credit Cards in 2018

    by Steve L. Hatch Steve L. Hatch August 6, 2018, 3:27 pm

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Find us on Facebook

Categories

  • 0 apr credit cards
  • 0 balance transfer
  • 0 credit card offers
  • 0 credit cards
  • airline credit cards
  • apply for credit card
  • apply for credit card online
  • bad credit loans
  • balance transfer
  • balance transfer credit cards
  • bank
  • bank account
  • banks near me
  • best apr credit cards
  • best bank
  • best business credit card offers
  • best business credit cards
  • best cash rewards credit card
  • best checking accounts
  • best credit card for business
  • best credit card offers
  • best credit card offers 2016
  • best credit card rewards
  • best credit cards
  • best credit cards for rewards
  • best credit cards with 0 apr
  • best no interest credit cards
  • best rewards credit card
  • best savings account
  • cash back credit cards
  • check
  • checking account
  • compare credit cards
  • credit card apply
  • credit card balance transfer offers
  • credit card comparison
  • credit card offers
  • credit cards
  • credit cards for bad credit
  • credit cards with best rewards
  • credit cards with no annual fee
  • credit cards with zero interest
  • good credit cards to apply for
  • low interest credit cards
  • mastercard
  • no annual fee credit cards
  • no interest credit card offers
  • no interest credit cards
  • online bank account
  • online banking
  • open bank account online
  • personal loans
  • rewards credit cards
  • secured credit card
  • small business credit cards
  • top credit cards
  • travel credit cards
  • travel rewards credit cards
  • us bank
  • visa credit card

Our picks

  • Best National Banks In America for 2019

  • Top banks for checking accounts

  • The Bank of America Travel Rewards credit card

  • Banks with best CD rates

  • How to choose best banks for buisiness accounts

  • ADCB Credit Cards in UAE

Popular

  • Latest
  • Comments
  • Best National Banks In America for 2019 Best National Banks In America for 2019
  • Top banks for checking accounts Top banks for checking accounts
  • The Bank of America Travel Rewards credit card The Bank of America Travel Rewards credit card
  • Banks with best CD rates Banks with best CD rates
  • How to choose best banks for buisiness accounts How to choose best banks for buisiness accounts
  • Today Week Month All
  • Sorry. No data yet.
Ajax spinner

Popular Posts

  • BDO Online Banking Enrollment

    ATM PIN Change, BPI ATM Change, LandBank iAccess, Landbank Online, Landbank UITF, LandBank Savings Account, Current Account, Investment, BDO, … Related

    Share this:

    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)

    496 1 September 11, 2017

  • Synchrony Bank | High Yield Savings Accounts

    With award-winning rates, FDIC insurance and flexible access to cash, Synchrony Bank High Yield Savings Accounts offer a banking experience in step with you … […]

    Share this:

    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)

    289 1 November 4, 2017

  • What To Do If You Are Listed In ChexSystems

    “…I’m sorry, my bank cannot help you. You’re listed in ChexSystems…” My wife and I just moved from South Bend, Indiana to Indianapolis. We needed […]

    Share this:

    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)

    245 0 July 28, 2017

About us

All about best banks in the United States of America.

Follow us

  • facebook
  • twitter
  • googleplus
  • instagram
  • vine
  • youtube

© 2017 mybestbanks.com All rights reserved

  • Home
  • Terms of Service and Privacy Policy
  • Contact us
mybestbanks.com
Back to Top
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok