Do you agree that kids should be allowed to own credit cards?
It depends on the age and maturity of the child as well as the credit limit of the credit card. I didn't have a credit card until I was 18 because my parents wanted it to be my own responsibility to pay the bill. At 18, I was technically an adult.
But, my sister has given my 14 year old nephew a debit card that is connected to an account that she adds money to for him every month and this has taught him how to budget his own money. Once the money in the account is gone, it's gone. And he has to wait until the next month to get more money if he spends it all too soon. It took about 3 months for him to figure out how to check his balance consistently and keep track of what he was spending.
Hey there, to add images tap on image button above the message box and insert your image URL and hit add.
Brilliant!
My first reaction to the question was:
No
NO!
And no again
But when you said "this has taught him how to budget his own money" in your second paragraphI saw that this is smart parenting
Teaching the child an important blife lesson when the spending has to stop
I can agree with where you are coming from, completely. I don't think giving a kid a credit card is a good option but allowing them to have a debit card may be a good idea. Debit cards are less risk and once the money is gone, it's gone.