Credit card extension to the teenage child

Discussion in 'Parenting' started by Alexandoy, Apr 19, 2020.

  1. Alexandoy

    Alexandoy Well-Known Member

    Nov 21, 2016
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    Some parents I know have given their teenage child a credit card - extension only but it is valid and can be used to purchase in any store that accepts credit cards. Do you think it is right? One parent said that their child using the credit card is easier to audit if he is overspending since transactions are recorded. Maybe I can agree with that but you know some children who has the urge to spend foolishly.
  2. Jason

    Jason Member

    Mar 9, 2020
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    This is a Catch 22 situation. But the good outweigh the bad, I think. On the positive side, the teenage will learn how to budget and how to spend wisely. But on the other hand, a naughty teenager will plan to be refunded 50% of money at some rouge store in exchange for cash. That way, you will never notice until it's too late.

    I know of a neighbour whose boy agreed with a convinient store teller to buy things and be given cash instead of the item. This went on for over 2 years undetected. But one day, he was caught with a huge sum and it was discovered.
  3. tyche

    tyche Active Member

    Dec 27, 2016
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    I never had that kind of privilege, and I think it would be a bit risky to give a child one. If I had a child I would rather give him money instead of a credit card.

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