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Credit Cards and Children Under 16

Should I let my children have credit cards?

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If they're under 16, the answer is No! No! No! A credit card is practically a lethal weapon in unskilled hands. However, your kids will be bombarded with offers from card companies starting in their freshman year of college. To give them some practice for the responsibility, we suggest you let them have access to a credit card when they turn 16 with some very strict limitations. Keep the credit limit down to $500. Also, ask the credit card company to send duplicate bills: one to your teenager, so that he or she will get used to receiving the bills and paying them on time, and one to you, so that you can monitor every transaction. One of the best lessons you can teach your children is to pay within 30 days.

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I wouldn't recommend it unless there was a LOW spending limit on it and the child was pretty responsible.

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I would give my child a credit card if I absolutely know they will be responsible for with it.  I would not let my child keep the credit card in their possession.  I would lend it to them for certain things they may want.  Also, make sure they have the money to pay the balance on the credit card at the end of the month.  Teach your children that plastic money can have severe consequences if not used wisely.

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