The last time I got this message I played along to see what they were up to.
They claim they will give you a private peep show for free but you have to go to a certain web site and enter your credit card info.
“It’s important to agree on what is acceptable spending ahead of time, and then use the card to have more conversations about debt, budgeting and being responsible.” Have you communicated the pros and cons?
It’s important that children understand both the risks of credit cards — and the rewards.
So the "College Girl" started to cringe and get annoyed.
Instead, many parents are adding their children to their card as an authorized user, which means their child is allowed to use their card, explains Kimberly Palmer, Nerd Wallet’s credit card expert. Just because other parents are giving their kids credit cards at age eight, doesn’t mean you should.
Or they may just be handing their own cards to their kids. “It’s hard to imagine a scenario” where it makes sense to give an 8 or 9-year-old a credit card, says Credit Cards.com’s senior industry analyst Matt Schulz.
In May 2011, La Tisha Styles’ credit score hit an all-time low of 462. Track your spending carefully over the next 30 days.
Having seven credit cards, she freely bought clothes, took vacations and purchased textbooks for school – all on credit. “Plastic equals temptation, so remove the credit cards from your wallet. “If you’re going to create a strategy to pay down one or two specific credit card accounts, you need to see the entire picture first,” says Christopher Viale, president and CEO of Cambridge Credit Counseling. Then she went in for the kill – slicing and dicing the wants and impulse buying.