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#71833 - 01/12/06 04:22 AM Re: credit cards
chatty lady Offline

Registered: 02/24/04
Posts: 20267
Loc: Nevada
If anyone ever really studied the inner workings of these banks they would run far and fast when offered these cards...this is the worst way for a kids to begin his/her life with credit card debt....emphasize that to them repeatedly [Roll Eyes] and then practice what you preach. Unless however you don't overextend and your able to pay off the entire balance every month.

[ February 09, 2006, 08:33 PM: Message edited by: chatty lady ]

#71834 - 01/23/06 03:05 AM Re: credit cards
ladybug Offline

Registered: 09/22/05
Posts: 1402
I use only one credit card and use it for everything. It gets paid off in full every month and has never carried a balance. We also opened a credit card for our son. He uses it for books and tuition and occasionally a meal or computer stuff.
My husband feels it's important to help our children become established with credit. Our 18 year old will be getting one soon.
Debit cards are risky for the exact reasons Daisygirl mentioned.

#71835 - 02/09/06 06:57 PM Re: credit cards
Patty Gale Offline

Registered: 02/01/06
Posts: 25
Loc: near Milwaukee, WI
My oldest son started getting credit card offers from Capital One when he was 14 years old. I was livid and spent probably 6 months in the runaround at that company trying to get my sons name off their mailing list.

It wasn't a mistake, either... they were specifically targeting teens because if we had decided to apply, it would have need a parental co-signer on the application.

This makes me so mad. I called them one day and gave them my "thoughts."


#71836 - 02/09/06 07:10 PM Re: credit cards
Dotsie Offline

Registered: 07/09/08
Posts: 23647
Loc: Maryland
Ladybug, our son away at college also has one. He sends me the receipts so I can be certain of the charges when the bill arrives.

He'll get the credit card when he graduates. Woohoo! Then he can pay the bill.

Next year I'll be doing this for two more kids. Egads.

Do you ladies charge tuitions? Instead of paying the college, we charge their tuition with our US Air credit card, then pay the bank at the end of the month. We really rack up the air miles. Then we fly free. Our son is 9-10 miles from home so the free air fare helps tremendously.

Patty, my 20 year-old received two credit card applications in the mail yesterday. I ripped them in half like I do with all the rest.

#71837 - 02/10/06 12:33 AM Re: credit cards
AvalonBlondi Offline

Registered: 11/07/05
Posts: 1096
Loc: West Chester ,PA
We did the same thing with our kids when they went away to college...opened a credit card to establish their son to this day...and he is now 29...thanks me for doing that for him..he had a very nice credit history 2 years ago when he went to apply for a mortgage for his first house...I still have one in college...and thanks to all of this computer technology I can check her account very easily...even everyday if it was necessary...same way with's so easy to just be able to jump online and put $20 in her account when she needs extra money for a prescription or the like...I love computer banking!!!!

Dotsie...we did the same thing as you with tuitions...paid them on our card and racked up lots of air husband even has me use the airline card to pay for groceries now...he thinks every dollar we spend might as well convert into air miles...sounds great to's really a pretty nice incentive....of course we pay it off every month....he doesn't like carrying credit card balances....

#71838 - 02/10/06 07:27 PM Re: credit cards
ladybug Offline

Registered: 09/22/05
Posts: 1402
Dotsie, because my credit card also has enticing "perks" we also pay college tuition on it. Like you, we pay it off in full every month when it comes due.

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