High School Student Credit Cards

Parents who want to encourage their children to build good credit can begin by helping them to get a credit card while they are still in high school. In order to get a credit card in the student's name, the student must be at least eighteen years of age and should have at least a part-time job. Credit card companies are targeting high school students, and the decision to go forward with a credit card for young students should be carefully considered.

Teaching Students About Credit

Many youngsters see credit simply as a way to "get things." Having their own credit card not only allows them the buy what they want, it is also a status symbol and one that many students abuse early on. Here's where parents can really make a difference.

One of the primary reasons why students and adults alike get into trouble with credit cards is that they see the card as representing additional available money. The expectation seems to be that the money can be spent in large chunks or on a lot of small purchases and that the bill can be paid off some time in the future. Unfortunately, what really happens in many cases is that credit cards are often used to make unnecessary purchases and card holders do not make payments on time.

Parents who talk to their children about credit and how and when to use it can have a positive impact on their children's chances of really learning how to manage credit. For parents, having one or more serious discussions about the dangers and benefits of having a credit card can help the student to stay out of trouble. It's important for parents to help the student to select an appropriate card with the lowest possible interest rate and no annual fee. Before parents encourage a high school student to obtain a credit card, they should make a pact with the student to discuss spending and repayment on a regular basis.