Should Teens Have Credit Cards? |


Should Teens Have Credit Cards?

Credit cards give you convenience, with an aim to build a positive credit history so that your teen can qualify for a car loan or mortgages when the time comes. It may also help to rent an apartment or pay some educational expenses. So, consider getting low-interest rates on all forms of loans if you meet the requirements. That is one of the best things about credit cards.

Is it worthwhile to know more about whether teens should have credit cards? Let us find out.

1. Teach Them About Its Lows

Many young people end up in debt and have a poor credit score for using credit cards without fully understanding the consequences. It may take years for them to pay off and rectify the credit card history.

In order to avoid such disasters, better you may explain to them how it works and what are better ways to use it. Fully elaborate them its low and high points. Make them realize how the misuse of credit cards can affect their credit scores.

2. How to Build Positive Credit History

It may take time to build a decent and positive credit history. It becomes more complex for teenagers living with a thin credit line. Instead, parents allow teenagers to use their credit line.

That means:

  • Every timely payment will reflect in payment history
  • Minimal use of a credit card will teach your teenagers how to spend wisely
  • Your credit age will increase with your teenager’s credit file and accounts for a long history which is a good credit score

This may be a good way for teaching your teen to use the credit line, the way it should be.

3. Observe Credit Card Usage During an Emergency

You may hope your teenager doesn’t use a credit card during an emergency.

There are situations where it becomes inevitable to use a credit card. Like your young adults or teenagers vehicle breaks down or they find themselves in an immediate need for cash. A credit card will make their life easier at that point. If they use it appropriately, this will give you peace of mind that your teenager is ready to face an emergency and come of it as well.

4. Monitor Credit Card History

Mostly you will able to see your teen’s credit card purchasing history. You should look carefully to observe the nature of his spending. You can explain it’s a bad idea to spend every penny they earn. Save something by the end of each month.

You should do this with a diplomatic approach without letting your teen feel you are micro-managing.

5. Convenient and Secure

Credit cards are good for payment methods. Many credit cards offer protection on every purchase you make. In the meantime, if you lose your credit card you inform the bank and get it cancelled and wait for its replacement. This is a safer option than your teenager carrying cash around.

Make your teenager realize this significant point.


It may be a tough and daunting task for parents to hand over additional responsibilities to their children, particularly teenagers. It covers all aspects of giving them your car, access to the internet or letting them use your credit card.

For you, it may be a big step but it’s a smart way to prepare your teenagers for taking on adulthood responsibilities.