Comments on: Should Teens Be Allowed to Have Debit/Credit Cards? http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/ Wed, 21 Dec 2011 04:03:26 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Leslie Smith http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/comment-page-1/#comment-237 Leslie Smith Thu, 23 Apr 2009 20:36:36 +0000 http://econ4u.org/blog/?p=334#comment-237 I agree with the majority of comments above. I think <a href="https://www.netspend.com/prepaid-debit-card/applyNow.m?AID=corporate&SITEID=corporate&r=" rel="nofollow">Prepaid Debit Cards</a> are a great way to show your teen the type of responsibility they will need to start developing. The prepaid aspect is what makes it so inciting, and useful. Teens can learn to check how much money is on their cards and regulate their spending, buy things online safely, and you can cancel a card at anytime. Furthermore, at some point in their lives, they will have to manage a credit card or debit cards and a bank account (that's just the way the world works) and cash won't teach them the fundamentals they need to survive. I agree with the majority of comments above. I think Prepaid Debit Cards are a great way to show your teen the type of responsibility they will need to start developing. The prepaid aspect is what makes it so inciting, and useful. Teens can learn to check how much money is on their cards and regulate their spending, buy things online safely, and you can cancel a card at anytime. Furthermore, at some point in their lives, they will have to manage a credit card or debit cards and a bank account (that’s just the way the world works) and cash won’t teach them the fundamentals they need to survive.

]]> By: PaleoPat http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/comment-page-1/#comment-98 PaleoPat Sun, 22 Mar 2009 19:41:19 +0000 http://econ4u.org/blog/?p=334#comment-98 No, they should not. I filed for bankruptcy, because I got one when I was 19. Stupid mistake. ended up 18K in the hole. Never again... They should not be allowed to own one, unless they're at least 21 and have a good job. Just my Opinion. -Pat No, they should not. I filed for bankruptcy, because I got one when I was 19. Stupid mistake. ended up 18K in the hole. Never again…

They should not be allowed to own one, unless they’re at least 21 and have a good job.

Just my Opinion.

-Pat

]]> By: Frank http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/comment-page-1/#comment-89 Frank Fri, 20 Mar 2009 22:12:34 +0000 http://econ4u.org/blog/?p=334#comment-89 A prepaid card might not be a bad idea. They would learn that they cannot purchase more than they have or it will decline. The pretense would be that they would have to earn the money put on the card. Not too bad a solution and a little harder to spend than cash that disappears pretty fast as well. Plus, most cards allow you to cancel if it gets lost vs cash that will be gone permanently. A prepaid card might not be a bad idea. They would learn that they cannot purchase more than they have or it will decline. The pretense would be that they would have to earn the money put on the card. Not too bad a solution and a little harder to spend than cash that disappears pretty fast as well. Plus, most cards allow you to cancel if it gets lost vs cash that will be gone permanently.

]]> By: Tim http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/comment-page-1/#comment-87 Tim Fri, 20 Mar 2009 15:04:34 +0000 http://econ4u.org/blog/?p=334#comment-87 Depending on what you mean by "kids" I think teenagers should get a low limit credit card to help them build credit and learn responsibility. Depending on what you mean by “kids” I think teenagers should get a low limit credit card to help them build credit and learn responsibility.

]]> By: Joel Weberham http://econ4u.org/blog/2009/03/19/should-teens-be-allowed-to-have-debitcredit-cards/comment-page-1/#comment-86 Joel Weberham Fri, 20 Mar 2009 12:42:50 +0000 http://econ4u.org/blog/?p=334#comment-86 I think that prepaid cards might be a good compromise. They have the convenience of a credit card, but don't allow the kids to go into debt. From the kid perspective, there is no purchase that is worth going into debt for. I think that prepaid cards might be a good compromise. They have the convenience of a credit card, but don’t allow the kids to go into debt. From the kid perspective, there is no purchase that is worth going into debt for.

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