Teens and credit cards

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto the
card, so she can only spend so much, but from a merchant's point of view it
looks just like a Visa credit card. Well, B of A is discontinuing Visa Buxx
in November. (coincedently, the same day she get's her driver's license...)
So, for you parents of teens, how do you supply your kids with credit cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card, would
mean she has limited options when looking for gas, so I was thinking that
wouldn't work all that well.

Any ideas?

In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto the
card, so she can only spend so much, but from a merchant's point of view it
looks just like a Visa credit card. Well, B of A is discontinuing Visa Buxx
in November. (coincedently, the same day she get's her driver's license...)
So, for you parents of teens, how do you supply your kids with credit cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card, would
mean she has limited options when looking for gas, so I was thinking that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

The other option is just a regular checking account. Same problem, but
it keeps her from having to carry cash.

My kids have managed to have problems with overdrafts with both, but I
don't cover the charges, so they're learning to handle their money
better.
--
Children won't care how much you know until they know how much you care

"dragonlady" wrote in message
...
In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the
past
few years as a credit card. This is a card where we transfer money onto
the
card, so she can only spend so much, but from a merchant's point of view
it
looks just like a Visa credit card. Well, B of A is discontinuing Visa
Buxx
in November. (coincedently, the same day she get's her driver's
license...)
So, for you parents of teens, how do you supply your kids with credit
cards?
Are there similar programs to Visa Buxx out there? Or do you have
another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card,
would
mean she has limited options when looking for gas, so I was thinking
that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

Which bank? CitiBank says we can't get her a bank account with an Visa/ATM
until she is 18. They claim it's federal law, but we aren't sure we believe
that.

In article , Cathy Kearns says...

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto the
card, so she can only spend so much, but from a merchant's point of view it
looks just like a Visa credit card. Well, B of A is discontinuing Visa Buxx
in November. (coincedently, the same day she get's her driver's license...)
So, for you parents of teens, how do you supply your kids with credit cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card, would
mean she has limited options when looking for gas, so I was thinking that
wouldn't work all that well.

Any ideas?



How about having her open a bank account, and getting a PIN protected debit card
for the account? There are also old-fashioned checks.

Banty

In article ,
dragonlady says...

In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto the
card, so she can only spend so much, but from a merchant's point of view it
looks just like a Visa credit card. Well, B of A is discontinuing Visa Buxx
in November. (coincedently, the same day she get's her driver's license...)
So, for you parents of teens, how do you supply your kids with credit cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card, would
mean she has limited options when looking for gas, so I was thinking that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

This isn't a disadvantage of a PIN protected debit card.

Banty

In article , Cathy Kearns
says...


"dragonlady" wrote in message
...
In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the
past
few years as a credit card. This is a card where we transfer money onto
the
card, so she can only spend so much, but from a merchant's point of view
it
looks just like a Visa credit card. Well, B of A is discontinuing Visa
Buxx
in November. (coincedently, the same day she get's her driver's
license...)
So, for you parents of teens, how do you supply your kids with credit
cards?
Are there similar programs to Visa Buxx out there? Or do you have
another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card,
would
mean she has limited options when looking for gas, so I was thinking
that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

Which bank? CitiBank says we can't get her a bank account with an Visa/ATM
until she is 18. They claim it's federal law, but we aren't sure we believe
that.



It can't be a federal law - my son at 11 got a checking account with USAA, with
a debit card.

Banty

In article ,
Banty wrote:

In article ,
dragonlady says...

In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto
the
card, so she can only spend so much, but from a merchant's point of view
it
looks just like a Visa credit card. Well, B of A is discontinuing Visa
Buxx
in November. (coincedently, the same day she get's her driver's
license...)
So, for you parents of teens, how do you supply your kids with credit
cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card, would
mean she has limited options when looking for gas, so I was thinking that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

This isn't a disadvantage of a PIN protected debit card.

Banty


Unfortunately, I'm finding more and more places that will only accept
so-called debit cards that have a Visa or Mastercard logo. It's
frustrating, because, until recently, I only carried a debit card.

And my bank no longer offers straight debit cards -- they all have a
Mastercard logo. The good part is that I can use it more places.
However, it is no where NEAR as safe! I can use it at a gas pump
without a PIN number and without anyone ever seeing it, and it's my
experience that sales clerks typically do NOT check the signature
against the back of the card -- I had written "please check photo ID" on
my card, but only had one clerk who bothered!
--
Children won't care how much you know until they know how much you care

In article ,
"Cathy Kearns" wrote:

"dragonlady" wrote in message
...
In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the
past
few years as a credit card. This is a card where we transfer money onto
the
card, so she can only spend so much, but from a merchant's point of view
it
looks just like a Visa credit card. Well, B of A is discontinuing Visa
Buxx
in November. (coincedently, the same day she get's her driver's
license...)
So, for you parents of teens, how do you supply your kids with credit
cards?
Are there similar programs to Visa Buxx out there? Or do you have
another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card,
would
mean she has limited options when looking for gas, so I was thinking
that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

Which bank? CitiBank says we can't get her a bank account with an Visa/ATM
until she is 18. They claim it's federal law, but we aren't sure we believe
that.



It may be, but that doesn't mean you can't get an account in YOUR name,
and give HER the ATM, or get a second card. There are ways around it --
check with other banks in your area.
--
Children won't care how much you know until they know how much you care

In article ,
Banty wrote:

In article , Cathy Kearns
says...


"dragonlady" wrote in message
...
In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the
past
few years as a credit card. This is a card where we transfer money onto
the
card, so she can only spend so much, but from a merchant's point of view
it
looks just like a Visa credit card. Well, B of A is discontinuing Visa
Buxx
in November. (coincedently, the same day she get's her driver's
license...)
So, for you parents of teens, how do you supply your kids with credit
cards?
Are there similar programs to Visa Buxx out there? Or do you have
another
way of getting the kids credit cards they can sign for?

The reason I like the credit card is so she doesn't have to carry large
amounts of cash. A specialized credit card, like a Shell gas card,
would
mean she has limited options when looking for gas, so I was thinking
that
wouldn't work all that well.

Any ideas?



Why not a bank account with an ATM with Visa or Mastercard?

It isn't as good, because, at least in my experience, it WILL approve
charges that go over what is available in the bank (and then charge
really high overdraft fees), but it's a start.

Which bank? CitiBank says we can't get her a bank account with an Visa/ATM
until she is 18. They claim it's federal law, but we aren't sure we believe
that.



It can't be a federal law - my son at 11 got a checking account with USAA,
with
a debit card.

Banty


Come to think of it, so did mine! USAA may have a special situation.

However, it's a great insurance company. They have really come through
for us, both after car accidents (I have had 3 kids learn to drive . .
..) and after a house fire.

OT -- just wanted to publically sing the praises of a great insurance
company.
--
Children won't care how much you know until they know how much you care

In article ,
"Cathy Kearns" wrote:

My just 16 year old daughter has been using a Visa Buxx card for the past
few years as a credit card. This is a card where we transfer money onto the
card, so she can only spend so much, but from a merchant's point of view it
looks just like a Visa credit card. Well, B of A is discontinuing Visa Buxx
in November. (coincedently, the same day she get's her driver's license...)
So, for you parents of teens, how do you supply your kids with credit cards?
Are there similar programs to Visa Buxx out there? Or do you have another
way of getting the kids credit cards they can sign for?


When I went to college my parents gave me a credit card that was
attached to their account. That way I had emergency money (as well as
for things they agreed to pay for, like books), but they could keep an
eye on my spending. I was 17 when they got the card, so they might be
available for 16 year-olds as well.
--
Sara
accompanied by TK, number two, due in April of 2006