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Stepdaughter wants a credit card

dadbro's picture

Submitted by dadbro on Wed, 10/19/2016 - 6:13am

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Teenage Stepchildren

I am concerned about my stepdaughter. I got married to her mother 5 years back. She was 11 then. Now she is 16. I tried to be the good father figure for her and gave her anything she asked for. But, her current need is little daunting.
She is asking for a credit card. She is working part time in a boutique and has learned to stitch and designing dresses. She says a credit card could help her work at home and earn designing apparels. I am not against her wishes, but how can I trust a teenager?
I read that giving them cards while monitoring can help them learn about spending and budgeting. ( http://www.northwoodmortgage.com/mortage-questions/give-teenager-credit-... ) The blog has also mentioned the underlying concerns. Since she has a vision, perhaps, it wouldn't be a trouble. But I am worried only about her boyfriend. What if he makes use of the card.
I am in confusion. Her mother doesn't want to give her the card. But part of my mind says hse is grown enough to learn how to use the cards. I need your suggestions. Is it common? What are your thoughts?

Thanks!

Acratopotes's picture

Submitted by Acratopotes on Wed, 10/19/2016 - 6:56am

You are the SF - not the bio dad, you have no say. If Mum says it's no then it's no.....

How ever why not look into a debit card, with no overdrawn facility.... then SD can put her savings and wages in there and if it's all used up there's nothing and no debt.... maybe you should suggest this to the mother...

yes 16 is old enough to have swipe card, Deigma had one since 13..... but it's a debit card and you can not swipe/withdraw more money then what's in there..

CANYOUHELP's picture

Submitted by CANYOUHELP on Wed, 10/19/2016 - 7:38am

Hey, I want a credit card too....think you can help me out?

I guess a prepaid credit card is workable, but I think it is up to her to established her own personal line of credit; credit card companies do not give cards out for a reason--for example if there is not a reasonable income. Let the credit card company be the judge, life is not always easy.

islandhell's picture

Submitted by islandhell on Wed, 10/19/2016 - 8:18am

I agree with everything that has been said here. She should get secured that reports to all three credit bureaus with no annual fee. She puts up the deposit equal to her limit if she defaults. Also, if she defaults and there is interest she will then have to pay it all off or it will go to collections. Make sure it is a card for building credit, for good credit or to help bad credit as you need to make sure the card reports all on time payments not just the late ones. The only other way she could get a card without putting money up is for one of you to cosign...(NO NO NO WAY NO HOW NO MATTER WHAT DON'T DO IT!!!!!!!) And I don't think it is unreasonable to help educate her as she is 16 and has no clue about credit most likely. Tell her what to search for and have her do all the work. Tell her ONCE. If she does it and comes back to you guys for the next step, awesome...if not too bad. MY SD who is 16 should have taken her PSATs. she did not. she asked about her SATsnand we told her to find a prep class...Kaplan is always good. well nothing has been said since. she is a lazy spoiled brat and this is her life, not mine. Her education, not mine. I have a business degree, engineering degree and an MBA from. One of the nation's best Universities and I worked my ass off to do it. ju st remember, you are there to guide her if she is interested, other than that and if she screw up just remoind her that if she's going to be dumb, she has to be tough.

Thumper's picture

Submitted by Thumper on Wed, 10/19/2016 - 9:58am

"When you are 18 you can apply for all the credit cards you THINK you should have".

OMG I just cant believe parents would go down this road. But then again I see parents buying their kids cell phones (paying for the plant to boot), I see kids being tossed BMW keys for their 16th Bday...or trucks just because it's their bday.

So, hey am not surprised.

Check your state laws on marital debt. IF your wife agrees to this, and her 16 year old defaults well, figure this into marital debt and your responsibility.

I SAY no way absolutely no way would I be willing to allow a minor (16 or 17) have a credit card.

It has nothing to do with love, or trust.

uofarkchick's picture

Submitted by uofarkchick on Wed, 10/19/2016 - 10:33am

I think this was SPAM. I've seen links to this company's website before on here. And he's been a member for 2 days.

Rags's picture

Submitted by Rags on Wed, 10/19/2016 - 5:16pm

Get her a prepaid credit card and tell her when it is gone it is gone until she presents you with budget for each project. If she is responsible keep funding her projects (within reason) if she is not responsible with the card... don't recharge it.

dadbro's picture

Submitted by dadbro on Wed, 10/19/2016 - 10:18pm

Thanks for all your inputs.

Like many of you said, giving her a prepaid credit card would be the best idea.
And, I can also assure her that when she turns 18, I can get her a bank account and a debit card. She is earning and it will help her to grow into a responsible woman.