Comments on: Kids and Credit Cards http://www.accumulatingmoney.com/kids-and-credit-cards/ Because wealth is better than poverty, if only for financial reasons. Mon, 06 Feb 2012 01:49:45 +0000 hourly 1 http://wordpress.org/?v= By: Clay Ivy http://www.accumulatingmoney.com/kids-and-credit-cards/comment-page-1/#comment-70677 Clay Ivy Sat, 15 Jan 2011 23:24:45 +0000 http://www.accumulatingmoney.com/kids-and-credit-cards/#comment-70677 I agree that having a credit card and learning to use credit the right way is important for young people. I wrote an article titled The Truth About Credit Cards that talks in depth about the postives of having a credit card. Credit cards aren't the problem. It is the way that they are used. There needs to be more early financial education. I agree that having a credit card and learning to use credit the right way is important for young people. I wrote an article titled The Truth About Credit Cards that talks in depth about the postives of having a credit card. Credit cards aren’t the problem. It is the way that they are used. There needs to be more early financial education.

]]> By: Our Many Personas » Blog Archive » Teaching Responsibility http://www.accumulatingmoney.com/kids-and-credit-cards/comment-page-1/#comment-78 Our Many Personas » Blog Archive » Teaching Responsibility Mon, 06 Nov 2006 02:18:50 +0000 http://www.accumulatingmoney.com/kids-and-credit-cards/#comment-78 [...] I read this on another blog and felt it worth linking to: Some people think that if kids use credit cards while they’re still at home being watched by their parents, they will handle credit responsibly when they’re on their own, but giving your teens credit cards is a little like letting them use drugs early so that they won’t turn into addicts. [...] [...] I read this on another blog and felt it worth linking to: Some people think that if kids use credit cards while they’re still at home being watched by their parents, they will handle credit responsibly when they’re on their own, but giving your teens credit cards is a little like letting them use drugs early so that they won’t turn into addicts. [...]

]]> By: Ray http://www.accumulatingmoney.com/kids-and-credit-cards/comment-page-1/#comment-13 Ray Tue, 18 Jul 2006 18:21:55 +0000 http://www.accumulatingmoney.com/kids-and-credit-cards/#comment-13 I always laugh when I read that kids should not have credit cards. First if I am a parent, not only do I get my child put on a credit card as an authorized user, but I make sure they have at least one card in their name as early as possible. Since am trustworthy and have excellent credit, I would make sure the card is only used when I know about it. My child would not carry the card with them until later in life and in the meantime they are creating a credit history that will help them greatly in the future. Of course you shouldn't just get your child a credit card and be done with it. Get them one, but don't let them have it. You have to play the game, so get one in their name... build their credit and then once they are financially smart and stable you can turn over the card to them and let them start out with not only a great credit history, but with the wealth and knowledge that they need to succeed financially in their life. I always laugh when I read that kids should not have credit cards.

First if I am a parent, not only do I get my child put on a credit card as an authorized user, but I make sure they have at least one card in their name as early as possible.

Since am trustworthy and have excellent credit, I would make sure the card is only used when I know about it. My child would not carry the card with them until later in life and in the meantime they are creating a credit history that will help them greatly in the future.

Of course you shouldn’t just get your child a credit card and be done with it. Get them one, but don’t let them have it. You have to play the game, so get one in their name… build their credit and then once they are financially smart and stable you can turn over the card to them and let them start out with not only a great credit history, but with the wealth and knowledge that they need to succeed financially in their life.

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