About.com is conducting a fascinating little poll that you might be interested in participating in. The poll is asking parents to weigh in on a topic that has been discussed on this blog as well: should teens have credit cards?
Many parents are also interested in allowing their teens to have a credit card for the convenience factor. After all, kids in general are heavily involved in many activities. In order to maintain your sanity while still allowing your teen to be involved in the sports and other activities he or she is interested in, a credit card can be a big help. This way, Junior can go out and purchase his own football gear and your Little Angel can pick out her own outfit for the upcoming Honor’s Banquet.
On the other hand, giving a teenager a credit card is a scary step. It used to be that handing over the car keys brought fear to every parent’s heart. The credit card, however, seems to be quickly passing this right of passage up. Although your teenager won’t be getting physically harmed by a credit card, he or she can cause a great deal of damage to his or her credit report – and at a very young age. This can make it very difficult for your young one to become financially stable. In addition, depending upon the age of the teenager and terms of the card, you may be held responsible for the expenses. If the card has a rather larger credit limit, this prospect can be truly frightening.
I have already cast my vote on this interesting poll. When I last checked it, nearly 2,000 people had weighed in and the majority of voters felt they would give their teenagers a credit card so long as they can control it. Where do you stand?
Related Posts:
- Kids, Teens and Credit Cards Are A Bad Mix - Is a credit card a rite of passage to adulthood? Some parents seem to think so. Financial experts have identified that children,...
- Deciphering the New Debit Cards for Teens - Lately, financial companies have become quite interested in selling you debit cards, hyping benefits such as ease of use, money management, and...
- Teens Steal Parents Credit Cards to Gamble Online - Online gambling is a popular pastime for many people. As such, the online gambling industry continues to grow at a rapid rate....
- Credit Cards Lose Appeal Among Teens - An article on Debtmerica.com recently explained that teens, surprisingly, have less desire for a credit card than recently thought, showcasing one of...