View Full Version : kiddie credit cards
heard about this on radio one the other day
they were asking peeps opinion on them
basically the parents top them up then the kids can use them like credit cards .. up to the amount on the cards..
was getting very mixed reviews.. pos. side parents knew what the kids were spending their money on as they recived itemised bills
cons.. getting the youth use to the idea of dept and depending on credit at a young age.. i think that mastercard is whom's doing it..
so lets have opinions folks!
Alice in Blunderland
28-Jan-06, 17:37
Not keen on this idea at all.This said my kids often owe me money but rather than paying me back financialy I make them do housework(keeps their debt low as they are not too keen on housework)Mastercard are obviously targeting them younger setting them up to find it acceptable to use one when they are older this time without mummy and daddy to come to the rescue with cash.
It's a really stupid idea .
I have not seen or ha=eard this report but I actually think that this idea has merit.
It is very easy these days for people to get credit, often too easy.
Perhaps it is time that we intorduce out children to the concept of money and credit early. If not they may well abuse the facility when they first encounter it.
Have you seen the number of adverts for credit on the TV. Far too easy to get money I think.
Let children experience credit cards then they will truley appreciate their limitations and consequences in later life.
To draw a comparison look at Europe's apporach to drinking for the underage. It is far more acceptable for youngsters to have a glass of watered down wine or shandy than in this country.
Who has the drinking problem!
I'm sure parents receive itemised bills, and so do the firms who provide the cards. As the kids get older and nearer to needing a Bank Account there is a nice ready made record of their spending habits to be sold on.
Tracked from the cradle to the grave, "we know how you spend your money".
More and more Companies and Institutions are trying to persuade people to leave a track for them to follow. They hate people using cash because they don't know what you are doing with it and therefore they can't try and get you to put it their way.
How many times have you been asked, "Have you any other accounts? Have you any other Credit Cards?" And if you say "Yes." how often has the suggestion been made to transfer it all to them? They are not bothered about your debt but only that somebody else is taking your money and not them.
Of course they want to get their grubby little hands on kids. That way they can indoctrinate them that they are nice helpful people who have let them have lots of sweeties.
Did nobody's mummy warn them about accepting sweets from strangers?
My kids have all got bank accounts and have done since they were little, dont think i would want them having credit cards though.
My daughter is 13 years old and received a leaflet in the post yesterday about applying for a credit card. Naturally it went stright in the bin, and even if she did apply there is no guarantee she would get one - but some people could lie to get one. Not a good idea financial establishments targetting the young, poor souls could be in debt before they are earning, and the banks etc deserve everything they get when people cannot repay the debt that was thrust upon them.
webmannie
29-Jan-06, 10:36
I can just see the headline '6 yr old mugged for £20 kiddie credit card'
Little joe Bloggs the son of a local businessman was pounced upon Tuesday. The notorious 'Plastic Pimps' gang stole his card and forced him to reveal his pin number so that they could buy a lifetimes supply of chuka chups.
A modern version of 'gies yer tuck money or i'll batter ye'
rich62_uk
29-Jan-06, 13:16
One thing to consider is this i recently went to a local furniture shop to buy a bed, i was paying in cash and the very pleasant young man who served me kind of struggled to find a till as he explained he had only worked there for a week and hadn't had to use it as yet as most people paid by card....
How much long is cash going to be around? Maybe children have to get used to the idea ?????
Rich.....
~~Tides~~
29-Jan-06, 13:47
If the parent or whoever tops it up then what's the problem? Its not credit is it? The money is already there. Ive had a debit card since i was about twelve.
yes the parents top it up
but then children learn to have no respect for money..
im sure you yourself know how easy it is to spend using plastic and
not think about how much you are spending..
just think the majority of kids will not be working for the money nor
really thinking about where it comes from and then not have to worry about paying it back as mom or dad will just top it up..
how does this get kids use to being responsible adults and keeping balances
and budgets?
One thing to consider is this i recently went to a local furniture shop to buy a bed, i was paying in cash and the very pleasant young man who served me kind of struggled to find a till as he explained he had only worked there for a week and hadn't had to use it as yet as most people paid by card....
How much long is cash going to be around? Maybe children have to get used to the idea ?????
Rich.....
I never use anything but cash, I don't even have a cheque book or a switch card, it's better that way as no debt can be run up! That's how I will be teaching my child about money, if you haven't got the cash you can't have it! It really encourages saving too.
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