What should teenagers learn about credit cards?

I am planning to give my daughter her very first credit card.What should teenagers learn about credit cards?
If you are willing to take the chance that your daughter may put you in some debt then I suggest the following: First, tell her what a credit card is and explain to her how the whole thing works. Tell her, the money she uses on the card is borrowed money until the 30th or whenever the bill needs to get paid. Tell her that you work hard to be able to have the luxury of a credit card. (I know this may sound weird but they need to get it or they will abuse it). Then tell her if she goes over a certain amount, you will not be able to pay the bank back so therefore she will lose the credit card. Second, tell her what to use the money for and to use it wisely. the borrowed money is not meant to be spent on friends, boyfriends, unnecessary items such as outrageous amounts of junk food or clothes and if she wants to go out of the boundries and buy something special- she needs to ask you for permission first. If she decides not to tell you about unnecessary spending, tell her that you will find out anyway because a ';statement'; comes in every month describing everything she purchased. Third, tell her that if she handles her credit card well it can build her credit score and enable her to loan or purchase wonderful things in the future like a car and a house, but if she abuses the credit card it can scar her credit for years and it will be much more difficult to buy these precious things. Hope this helps.What should teenagers learn about credit cards?
Credit Cards are safer than debit cards because if it gets stolen or someone hacks into her computer and gets her number and password she will only be liable for $50, but with a debit card anything she has in her bank account can be taken! A reliable, safe website to get a credit card is http://www.123gocreditcards.com They even have cards there that she can earn 5% cash back on everything she purchases!
Good question... just let her know how it works. I'm in college and a friend of mine said to me, ';Oh, you have a credit card? Yeah should get one too I want to go shopping.'; and I said, ';Well I don't just spend as much as I want I only spend what I have.';


Turns out she was under the impression that a credit card was like a gift card and they just give you $500 a month to blow.


No wonder people get in debt.





Just let her know to only spend what she can put money on the side for.


If she doesn't have a job, don't do it yet. She won't have figured out the value of money and won't be able to make a realistic connection... when you don't see the physical money you're spending, it seems more like it's free.





Make sure she has a full knowledge of what comes with spending more than you can afford... including interest rates, late fees, and everything.





Good luck!
If we are having problems in the area of our finances, we need to examine God's Word as to what He says about finances and then line up with that Word. Are we handling our money wisely? True wisdom comes from God and the Bible has revelation about money problems as well as our other problems.





So many people in our day are having financial problems. Even wealthy men are concerned they will lose their riches because of inflation and the worth of the dollar dropping daily. Stock markets around the world have been unstable. People are contemplating bankruptcy and even suicide due to such heavy money pressures. Many marriages are also under extreme stress and divorce has risen due to unresolved financial difficulties.





Is there an answer to all the money problems? Yes, the Bible has the answer to this problem as well as all others that face mankind. Briefly, we are going to write down a basic financial check list based on the Word of God. On this list we are going to look at some things that can block our financial blessings. As Christians, we are promised the blessings of God, not the curses of the devil. The promise of prosperity and blessing belongs to us, not the curse of poverty and fear. Galatians 3:13-14 says, ';Christ hath redeemed us from the curse of the law, being made a curse for us: for it is written, Cursed is every one that hangeth on a tree: That the blessing of Abraham might come on the Gentiles through Jesus Christ; that we might receive the promise of the Spirit through faith.';
I'm 18 and a girl. Warn her about shopping. Make sure she really knows not to spend the money if she doesn't have it, seriously. Credit card debt is not fun.
i agree with the debit card.. it's a NO NO for credit card.





but if you think that your daughter is responsible enough to have a credit card, why not. give her some pointers on how to manage the card.
You should get her a debit card, credit cards are trouble. Depending on how old she is, I would wait until your daughter is really mature before she gets a credit card. Too many people are in credit card debt!
lol not to lie to the bank using shell corporations to give yourself 40k in credit before youre 20, im now 21 and 11k in debt.