How You Can Know They Are (or are not) Ready for a Debit/Credit Card

SUMMARY

How do you know if your child is ready for a debit or credit card (plastic money)?

 

Money.  Parents.  Kids.  Tension.  Maturity.  Focus.  Responsibility.  Nightmare.

You pick which words to assign to a parent and which to assign to a young adult.  You'll probably select "all of the above" for both.  Much has been written about establishing credit, debit cards, credit cards, and more. 

Even reviewing the contract involved in any financial card of any kind is like someone handing you a Webster’s Dictionary and saying “you are responsible for all of it”. 

Today, having a 'plastic' debit/credit card is a status symbol.  Remember seeing photos of James Dean in his cowboy hat leaning on that car....with that cigarette?  Yes, the status symbols may have changed, but the concept fit even us, our parents, and grandparents.  

Statistic:  Reports say over 50% of college freshman have a...

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