Debit cards for teens?

[Barb D]

DH is thinking that we should get debit cards for the older kids (12 and 14). That seems kind of young to me. He's thinking it would help teach them financial responsibility.

Do any of your (younger) teens have debit cards? Or, at what age did they get them?

 

[The Mystery Machine]

We got my dd a card last year when she went to Washington DC with her school class, she was 14.

Now it is almost a year later and we are using it to our advantage. Instead of mom whipping out her card she knows it comes out of "her allowance".

In order to use it you kids will need to get a state ID. Make sure you get that first.

 

[Nancy]

How do you get them a Debit card that young? My 16 year old could not even have a checking account or a card even with me as a co-owner of the account. All the bank would allow was a savings account until she was 18.

 

[The Mystery Machine]

Not our bank....

 

[Barb D]

I just did an "online chat" with our bank, and they say 18, too. DH is going into the branch this morning, and he'll talk to them about other options.

The more I think about it, the more I think it's a good idea. I could automatically transfer their allowances into their accounts at the beginning of the month, and they wouldn't have to worry about cash getting stolen.

 

[Tigger&Belle]

Visa Buxx used to have a program, which we had for our DD, but they discontinued it, at least through our bank (Bank if America). You might look into whether or not they still have it at through some banks. I would also be interested in that for my 12 and 15yo's, but I haven't figured out where I could get it or what my options are.

 

[Tigger&Belle]

Here's the link, but I'm heading off to the bus now and don't have time to look at the link. http://www.visabuxx.com/

 

[malibuconlee]

How do you get them a Debit card that young? My 16 year old could not even have a checking account or a card even with me as a co-owner of the account. All the bank would allow was a savings account until she was 18.

I opened a checking account in my name only when I was 16. Maybe find a smaller bank or credit union that will be happy to have the business.

 

[Galahad]

Got DS#2 a card when he was 15 - from USAA. We load it up with all of the money he earns or is otherwise given (so if he gets a gift of $$ from grandma, for example, we take the $$ and transfer it to that card). Age is not a problem as it is technically in our name. It works well though.

 

[The Mystery Machine]

DH called around and got a guy to do it at Wells Fargo. The rule was 18 but he made an exception so we would open an account there.

 

[DaisyD]

My kids got debit cards when they were 14.

 

[NCRedding]

I got DD a prepaid debit card through USAA when she was 13. I arranged to have DD's allowance transfered to the card once per month. We have had no problems with DD--she keeps track of her amounts, and I can go online and see what she has spent. She has had some difficulty in stores without an ID, but she loves it for online purchases.

 

[BeNJeNWaFFLe]

When I was 16 my mom signed me up for a credit card. It was a student credit card with a small balance. It was in my name but she could keep track of my spending. She could see the balance, cancel the card, increase the limit, all that. When I was 12 my parents set up a savings account for me. If a large bank won't allow a younger child to have one, try a smaller credit union.

Maybe you can try like a Simon Gift Card. They can be used anywhere Visa is accepted. I believe you can also add money to the card. They have the same protections as a credit card but without the huge spending limit.

 

[TEENEE]

My ds has a visabuxx card. He's had it for two years and we love it. I can check their website to see where he is spending his money. He also has a state id card. It's similar to a drivers license. Having that id card cuts don't on any hassles he would have using the visabuxx. I believe visabuxx requires the kids to be 12 to get the card. We haven't had any problems with the card and would recommend it.

 

[Sandy V.]

DD got a debit card when she was 18 through our Wells Fargo. I transfer her allowance into her account each month. Since I am on the account as well, I can check her balance and see what she's spending it on.

When she decides on a college, she can also get a credit card with a low credit limit ($300-$1200) through Wells Fargo to start establishing credit in her own name. We thought it would be good for her to have it in case of car trouble, emergency travel home, etc. NOT to buy a ticket to Cancun for spring break!! We want her to have this before she goes to school so she avoids all of the glut of credit card offers out there at most colleges.

 

[lucyanna girl]

DD also has a Visabuxx. It works great for us. We got her a state ID for use with this and for traveling. She is very responsible and it is accepted anywhere a regular Visa would be.

 

[Longsx3]

Got DS#2 a card when he was 15 - from USAA. We load it up with all of the money he earns or is otherwise given (so if he gets a gift of $$ from grandma, for example, we take the $$ and transfer it to that card). Age is not a problem as it is technically in our name. It works well though.

DD(9) also has a card from USAA it is considered a prepaid spending card with out all of the fees, it has her name on it and is loadable. We have an auto transfer from our checking account for her allowance and frequnetly family members will transfer her money for gifts...which really helps when you live in a different country! I believe it is call first start and to have a USAA bank account you do NOT need military affiliation.

BTW the way the suggested age is 13 and up but no one batted in eye in 2004 when we requested the account for DD