(c) Can Stock Photo / sidelnikov
The issue of having credit cards for teens is definitely very debated and controversial issue. The thing is that there are quite many risks for the use of credit cards by teens as well. This is a very heated topic just because many parents have extremely different views on this topic, so later in this article we will discuss does it make sense to let the teen use credit cards or it does not, and you should ban the child from the use of credit cards. So now let’s examine the issue deeper.
Many parents think that the sooner the teenager gets the credit card, the higher he or she will score. In fact the good score does not have to do that much with how early the card began. However, this is not a fact because only 15 percent of early credit card uses reach a good score. That is the reason why you should make sure that you child is responsible enough to start its own credit card.
The next good thing about having the credit cards for teens is that you can teach the teen how to avoid the unnecessary purchases monthly. This is a good way to teach the teen how to balance the expenses. This means that technically you can just sit with the teen and discuss about each purchase, discuss whether it was necessary or not and this is how you will teach your teen how to balance the expenses very well even from teenager years.
Besides this you can also teach about the debt and show that it is very easy to get out of control and make troubles. That is the reason why they should always know their limits and spend the money extremely rationally and wise. Make them be able to differentiate between the expenses that we really need and the ones that we want.
The use of credit card is a great chance for the teen to understand how to manage the money and how to control the budget. It is a way to make the teen be responsible on their own expenses and this can really be useful for the teen in order to get more mature.
However, the use of credit cards by teenagers can be really dangerous. The reason is that many teenagers just love to go for fun games and they just end up spending all their money on things that are not useful at all. Another reason why this can be really dangerous is that gills love to spend lots of money on clothes and shoes, but not always they need them. So the way they make their expenses is very wrong very often. In this case if the teen is someone who is not so responsible and who can easily spend all the money on fun and exciting things, then you should not let the teen make her or his own expenses because it is extremely dangerous. Besides this, do not even let that kind of teenager have access to your own credit card, because you may lose all your money and end up with nothing.
In any case we do think that letting your teenager have credit card have some big risks. Sometimes the teenagers can even use of for downloading absolutely unnecessary things. They may pay for pornography or something of that sort. So think many times before you let your teenager have her or his own credit card. Make sure that the money which is there will last long enough and that you will not lose all the money just in one day.
Actually as we already said the use of credit cards by teenagers has both its advantages and disadvantages. In order to avoid all the disadvantages you have to show how to balance the expenses and how to manage all the purchases in the right way. If you are sure that you trust your teenager all the money, and if you are sure that the teenager will use the credit card wisely and rationally then the risks are almost not there. Besides, during the first period you can also do all the purchases with the teen and can easily control the situation until he or she learns how to do it right.
