Kredit kards for kids a krazy koncept?

 

 

“Giving your kid a credit card can be like giving them a car. If it goes well, they learn about being a responsible adult. If it goes poorly, it will cost you thousands of dollars. They’ll still learn a valuable lesson, but a harsh one.” — Anon.

P A R E N T A L   D I S C R E T I O N   A D V I S E D

Are parents being responsible when they give their preteen children a credit card instead of a weekly allowance to help them manage their weekly costs?

Last Friday I was going out the front door of my apartment complex when I looked down and noticed a bank credit card laying face down on the rug of the inner vestibule area.

When I picked it up and turned it face up towards me I noticed there was an expiration date and security code on the back of the card and a customer identification number on the front. There was no customer name anywhere on the card.

As I was debating what to do with the lost card an automobile pulled into the lot  and without almost stopping the driver’s door flung open and a young man rushed toward me as I was still standing in the doorway.

I think he was a neighbor but am not certain.

“Did you find a credit card?’ he asked me in a gruff and imposing manner.

“Did you lose one?” I retorted in an equally gruff and suspicious manner.

Since there was no name on the card and the man seemed anxious and perturbed I assumed he had lost the card.

I told him I had just picked up the card and was about to take it into the rental office for safe keeping.

I handed him the card and his cold stare did not vary nor did he say thank you for my finding the card.

As I walked past his vehicle I saw him give the card to a little blonde haired girl who appeared to be no older  than seven or eight years old. She took the card and kept clutching the doll in her right hand.

The man backed up his car and left the lot without bothering to even acknowledge my presence there.

At that moment I wondered what type of parent gives their young child a bank charge card to use?

Would you give your pre teenage child a card to use instead of a weekly allowance?

Are children that young capable of being responsible for the safe keeping of their cards?

I think this guy was an alpha male who  had too many bowls of Alpha Bits cereal for his own good and the sugar rush was taking charge of his common sense.

Anyway, your opinion is welcomed on this one.

Giving children a reasonable weekly allowance makes more sense than entrusting them with a financial instrument that opens the doors to your bank account and ruin your good credit name. 

 

8 comments

  1. My kids had bank accounts that they weren’t allowed to touch. We gradually saved on their behalf. They did not have credit cards or even a debit card. We gave them a weekly allowance that they earned by doing jobs at home. Dog walking, emptying the dishwasher, ironing etc. Nothing major.

    The two grandkids that live here with me have an allowance that is paid into their own current accounts. The accounts are special one’s for kids. They each have a debit card that allows them to spend only the amount that is in their accounts. They can save up and buy something online, they can earn extra by doing jobs around the house, the money is paid is paid into their accounts unless they ask for cash.

    The eldest has a part-time after school job, his wage is paid into his account. Neither of them have a credit card.

    The idea of giving a credit card to a kid is ludicrous. I never even use my own, I dislike debt and only ever spend money that I actually have in my accounts. 🙂

    Like

  2. It’s crazy what children have nowadays, Gerry. I know I date myself, but computers, cell phones, credit cards…..for a 9-year old?! I work with people who provide all this to their kids. If you don’t, then what kind of parent are you?! Pressure is on for both kids and parents alike.

    Liked by 1 person

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