Teen Cc

[chpmnk1015]

working to get my teen a CC- not a Debit card; know they will have to be user on my card... which i am ok with if i have  small credit amount.  my current cards are high so, do not want to add to what i currently have.   and with chase they cannot put a max on a specific user.

So, was thinking of opening a different chase card with a max like 1=$2K 

Anyone have any other ideas or any cards they like?
Dont want to do greenlight either.   

Anyone have a card they like or would recommend?

[buckeyegirl]

If you have a card you already have open and don't use much I would call and lower the limit instead of opening a new card.

[puppylove64]

I just used my chase amazon card cause it had the lowest limit. After a while, I took that back and dh gave him an Apple Card. He likes having the app and getting alerts everytime he uses the card

[Mushe]

Different context, but we have been hosting au pairs and I like to give them a credit card. I first tried a Chase card and to set a low limit risks my credit % utilization on that card from being bad. 😕 I discovered that Amex is super easy to set limits on authorized user cards. If you’re ok opening a new Chase card, I’d look instead at an Amex.

My oldest turns 13 this year and I’m planning to get him an authorized user card for that Amex account because I’ve seen what it can do for credit score and then I’ll let him use it as needed.

[chpmnk1015]

Thanks.. so the 3 cards I use most w work a d stuff I can't lower the limit..I mean I could but the limit I need is still higher than I want them to have access too.

I ended up going w a chase for ease and they set a low limit for me... will see how to goes. Thanks!

[SusanBAnthony]

We ran into the same thing, and I was shocked they wouldn't put a lower limit on an authorized user card.

That said we decided not to worry about it and just got our teens cards on our Fudelity 529 card. We figured the kids aren't any more likely (probably less likely because they don't use it online) to be a victim of fraud than we are. And they only use it at our direction, not general spending. So we weren't worried about them running up thousands on stupid crap.

[orval]

I used my Marcus GM card for my ds. I set his limit to $200 lol. It was super easy to add him as an authorized user and set limits.

[EvieEthelGarland]

I had a USAA card that I wasn't using and lowered the limit on that for DS. I'm not too worried about him being stupid with it and I have no more worry about him and fraud that I do for myself.

We also had a long chat about credit scores and his immediate takeaway was "that sounds like bullshit." Yes, son, it does.

[niq]

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

[mcsangel2]

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

To get a head start on building their credit history.

[chpmnk1015]

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

So i dont really believe in debit cards.. so didnt want to set one up.. I have always used my CC and what i am teaching my kids is to use the CC like a debit card, if you do not have funds to pay it, dont buy it.  But with a CC you get points.
Last night my DD went shopping w friends so rather than sending her w a ton of cash, she had a the CC.  She is also going away for a week with friends, so i can send some cash and the CC.. while they dont "need" it, i think it will be good.  there have been times they have gone to places where cash isnt an option too, so... i know i had some other reasons too but those were my big ones

[livinitup]

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

My teen has a credit card on my Visa signature account- it has her name on the card. She has a job and walks dogs for cash. The paycheck goes in the bank and she keeps the cash around the house for stuff she wants to purchase. She uses the credit card for purchases when I am not around (food, Starbucks, haircuts, stuff). It doesn’t come up much, but it happens. If it’s a purchase I cover, I cover it. If not, she pays me back before the Visa bill is due.

The card is also in her cell phone “wallet”. She used that recently when she went to a baseball game. She did not buy a hot dog because it was $8 and according to her, the price was “ridiculous” but she did get a drink.

I could not imagine a scenario where she would buy something expensive for shits and giggles on the credit card. I guess she could use her savings, but it would not be sitting on my card getting hit with interest. Anyway, using credit cards responsibly is a fairly normal way of moving around in the world. We talk about it, check statements, manage expectations and plan purchases.

[hermione]

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

My kid goes a lot of cashless places with her friends and their parents - concerts, carnivals, even the zoo is cashless. It’s easier for her to pay for herself than Venmoing back and forth between parents. If she has to have a card anyway, I’d rather build her credit history and teach her how to use one responsibly.

[penguingrrl]

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

My teen has access to my Apple CC through Apple pay. I don’t want them using their debit card because if that number gets compromised the thief has access to all their money/savings and it’s easier to sort out a CC that has been compromised than to risk all your savings gone and waiting for it to be sorted out when you have bills due. I don’t use my debit card anywhere but my own bank’s atm for the same reason. I want to set them up with a mindset that a debit card is only for ATM use and you use a CC for everything else then pay it off each month for the security of not having their rent/utilities money potentially compromised through fraud. We also use Apple Pay because that has a higher level of security.

I’m not a cash person, too high a risk of theft or simply losing your wallet.

[cjcouple]

Jul 26, 2024 15:06:30 GMT -5 mcsangel2 said:

Jul 25, 2024 18:40:52 GMT -5 niq said:

... can I ask what a teenager needs a cc for? I know I'm a real debtphobe for youths -- I don't even think (dependent) college students should have a cc -- but "high schoolers don't need revolving credit" sounds about right...

To get a head start on building their credit history.

We were at the bank a few weeks ago and the customer service rep recommended adding our teen to a recurring bill with autopay like Netflix. Go into his credit report on Experian and report the bill to experian boost.