InvestorQ : I have been thinking of giving my teenage son an add-on card. Is this a good idea?
Manish Mehta made post

I have been thinking of giving my teenage son an add-on card. Is this a good idea?

Answer
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Nitin Shah answered.
2 years ago


This is a very good idea. They say, “well begun is half done” and this couldn’t be truer than in the world of finance.

By giving your teenage son an add-on credit card, you can teach him numerous lessons in credit without the text book knowledge. It is one of the best ways you can introduce him to the world of credit.

By asking him to monitor his expenses; keeping a reminder of the due date and the amount payable; explaining how reward points are earned and redeemed, you are imparting practical knowledge that most of us end up learning very late in life.

I applaud your thought and believe you should go ahead and get him one. If you are worried about it getting stolen or being misused, you can easily contact the bank and ask them to keep a credit limit on the add-on card that you are comfortable with.


user profile image
Nitin Shah answered.
2 years ago


This is a very good idea. They say, “well begun is half done” and this couldn’t be truer than in the world of finance.

By giving your teenage son an add-on credit card, you can teach him numerous lessons in credit without the text book knowledge. It is one of the best ways you can introduce him to the world of credit.

By asking him to monitor his expenses; keeping a reminder of the due date and the amount payable; explaining how reward points are earned and redeemed, you are imparting practical knowledge that most of us end up learning very late in life.

I applaud your thought and believe you should go ahead and get him one. If you are worried about it getting stolen or being misused, you can easily contact the bank and ask them to keep a credit limit on the add-on card that you are comfortable with.


user profile image
Nitin Shah answered.
2 years ago


This is a very good idea. They say, “well begun is half done” and this couldn’t be truer than in the world of finance.

By giving your teenage son an add-on credit card, you can teach him numerous lessons in credit without the text book knowledge. It is one of the best ways you can introduce him to the world of credit.

By asking him to monitor his expenses; keeping a reminder of the due date and the amount payable; explaining how reward points are earned and redeemed, you are imparting practical knowledge that most of us end up learning very late in life.

I applaud your thought and believe you should go ahead and get him one. If you are worried about it getting stolen or being misused, you can easily contact the bank and ask them to keep a credit limit on the add-on card that you are comfortable with.