Visa Cards for School Kids?

PROLIANT

!!!!!!? wrote: »

The problem is that a credit card company/bank has approached a minor, without parents permission, with a product that looks very much like it was designed to be a 'leader' for a credit card when said minor grows old enough to hold one.

I would expect any responsible parent would have something to say about that.....

But it is not a credit card nor any other borrowing tool, if you are old enough to hold a bank account in your name then you should be entitled to decide what you want, not your parents, I have two boys and when they are old enough to hold their own account they will given the benefit of the doubt, education is the key here and not dictation, just because there were more constraints on us when we were younger does not mean we have to apply the same "Modus Operandi" with our children, times and technology have moved on so have kids.

wyebird

I am currently in the process of getting my 15 year old to open a card account so that I can give him a monthly allowance for dinner money etc, now that he is allowed to leave school at lunchtime. Once it is gone that is it, he will be forced to be hungry or commit social suicide by taking sarnies (don't ask me!). I am hoping this will teach him some budgetting skills as cash seems to just get frittered away.
However, I have absolutely no intention of giving him access to the whole of his savings accounts until he is much older and wiser :eek:

Almost_In_The_Black

wyebird wrote: »

I am currently in the process of getting my 15 year old to open a card account so that I can give him a monthly allowance for dinner money etc, now that he is allowed to leave school at lunchtime. Once it is gone that is it, he will be forced to be hungry or commit social suicide by taking sarnies (don't ask me!). I am hoping this will teach him some budgetting skills as cash seems to just get frittered away.
However, I have absolutely no intention of giving him access to the whole of his savings accounts until he is much older and wiser :eek:

Agreed all the way - when I was younger my parents gave me a monthly allowance that worked in much the same way, only difference was I had to use cash as Electron and Solo were in their infancy at the time. I think it was a great idea as it gave me an idea of the value of money as it related to me - but then again my parents also let me *shock horror* drink a glass of wine occasionally at the age of 15. So they should be locked up by today's government standards instead of being thanked for bringing me up to see that all things (money and booze included) should be handled in careful moderation

sinky666

I am a little shocked to find myself agreeing with a lot of the posts on this subject - I am still unsettled about the banks approach - I would rather have let Dan arrive at the need for a Visa in his own time than have had it forced upon him. But I now have food for thought about the whole aspect of "kids with visa cards"

I'm embarressed to say I may be doing a Gordon Brown U turn on the subject!!:rolleyes: