What debit/credit card do your kids use?

[Anonymous]

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

Yes really. Statistical fact. Banks/Gov love you using plastic for various nefarious reasons.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

Yes really. Statistical fact. Banks/Gov love you using plastic for various nefarious reasons.

I don’t disagree that people are more disciplined with cash, but the reality is that kids will mostly be using cards or digital payments as they get older. They need to learn how to be responsible with those. Learning how to be responsible with cash doesn’t equal learning how to be responsible with cash or digital payments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

Yes really. Statistical fact. Banks/Gov love you using plastic for various nefarious reasons.

I don’t disagree that people are more disciplined with cash, but the reality is that kids will mostly be using cards or digital payments as they get older. They need to learn how to be responsible with those. Learning how to be responsible with cash doesn’t equal learning how to be responsible with cash or digital payments.

Point taken. Good point also about learning how to use credit.

Good also to teach them to stay within their means and only use cash for many other reasons than just fiscal responsibility.

[Anonymous]

Capital one teen card for sure! It’s so easy if you already have capital one. We got each of my kids one when they got to middle school. It’s very user friendly

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

Yes really. Statistical fact. Banks/Gov love you using plastic for various nefarious reasons.

I don’t disagree that people are more disciplined with cash, but the reality is that kids will mostly be using cards or digital payments as they get older. They need to learn how to be responsible with those. Learning how to be responsible with cash doesn’t equal learning how to be responsible with cash or digital payments.

+1 to this. It’s kind of like riding a bike vs driving — there is some overlap in terms of things like road rules and dealing with traffic, but even the best biker isn’t automatically prepared to drive a car. Almost everyone will have a credit card someday, and being responsible with cash won’t necessarily prepare someone for the extra temptations.

I figure better for a kid to get practice with using a card responsibly now, when we’re looking over her shoulder and covering payments, as opposed to later when she’s all on her own. It also helps to build their credit history.

When I was in college, I had a card in my name that my mother paid. Anything that she was willing to buy for me, she’d say “go ahead and put it on the card.” It was an easy way to manage things and, even though I wasn’t making my own decisions on use, it still felt like I knew what I was doing once I was off on my own.

(That was long enough ago that my own non-parent purchases were by check. But that meant keeping track of my checking account, so like with cash that’s a whole different thing.)

FWIW, our family just went through the process of researching authorized user cards for teens. We found out that most cards will let you do it, though some (like my Citi card) charge a fee to do it. With authorized user cards you’re allowing them access to your own credit and promising to pay off their charges, so you have to trust your kid! We decided that authorized user on a parent’s Capital One credit card was the best choice for our family.

[Anonymous]

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Cash teaches them better. Responsiblity, spending habits, etc.

Not really.

We use a mix of apple pay, cash and prepaid credit card. When he gets his license we'll get a separate visa where we can have a low credit limit.

Yes really. Statistical fact. Banks/Gov love you using plastic for various nefarious reasons.

I don’t disagree that people are more disciplined with cash, but the reality is that kids will mostly be using cards or digital payments as they get older. They need to learn how to be responsible with those. Learning how to be responsible with cash doesn’t equal learning how to be responsible with cash or digital payments.

+1 to this. It’s kind of like riding a bike vs driving — there is some overlap in terms of things like road rules and dealing with traffic, but even the best biker isn’t automatically prepared to drive a car. Almost everyone will have a credit card someday, and being responsible with cash won’t necessarily prepare someone for the extra temptations.

I figure better for a kid to get practice with using a card responsibly now, when we’re looking over her shoulder and covering payments, as opposed to later when she’s all on her own. It also helps to build their credit history.

When I was in college, I had a card in my name that my mother paid. Anything that she was willing to buy for me, she’d say “go ahead and put it on the card.” It was an easy way to manage things and, even though I wasn’t making my own decisions on use, it still felt like I knew what I was doing once I was off on my own.

(That was long enough ago that my own non-parent purchases were by check. But that meant keeping track of my checking account, so like with cash that’s a whole different thing.)

FWIW, our family just went through the process of researching authorized user cards for teens. We found out that most cards will let you do it, though some (like my Citi card) charge a fee to do it. With authorized user cards you’re allowing them access to your own credit and promising to pay off their charges, so you have to trust your kid! We decided that authorized user on a parent’s Capital One credit card was the best choice for our family.

So you’re arguing to skip the bike and give them a car as soon as they can walk?

[Anonymous]

Mine has his own debit card tied to his checking account. He is an authorized user on my CC and has that card in his wallet. He asks me before he uses it and he's only needed it a few times in an emergency. He has excellent credit now that he's 20.

[Anonymous]

Capital One teen debit card.

[Anonymous]

Anonymous wrote:Greenlight

No need to pay extra fees for Greenlight. My tween and teen each have kid debit cards linked to their accounts.

[Anonymous]

My kids have a debit card through a company called till. (It only has whatever money I transfer to it, they can’t spend an unlimited amount.) they mostly use Apple Pay for electronic transactions though.

We got the till cards when one was traveling overseas in a country that has age restrictions around using Apple Pay.

[Anonymous]

They use cash.

[Anonymous]

18-year old was an authorized user on my citidouble card. I had lowered the credit limit to $1500 just for that occasion. He just got his own Capital One credit card and I took him off as AU. He does have my card though as a college kid. The card sends text message ofcourse as it is charged. I did have to lock it a few times and check with the kid or 360 to make sure it's the kid using it.
I put 12-year old as authorized user on that card now. He has the physical card and it's also in apple wallet.
We have never really used debit card or checking account myself even. Both have cash somewhere in the bottom of backpacks.
We do have investment accounts though, because they need to know about stocks, crypto, Roth IRA. One has inheritance waiting for them to turn 18, which sits in cash right now unfortunately.
They are not spenders, so we don't need to do this cash versus card thing at all.

[Anonymous]

Anonymous wrote:Mine has his own debit card tied to his checking account. He is an authorized user on my CC and has that card in his wallet. He asks me before he uses it and he's only needed it a few times in an emergency. He has excellent credit now that he's 20.

Same. All my kids became authorized users on our cards around 13. The two over 18 now have excellent credit.