Does your Teenager need a credit card

Does your child need a credit card

This article talks about benefits and disadvantages of giving a credit card to a child. I have to say that I didn't understand this text when I read it for the first time. I had to ask my parents to explain some parts for me. I am still 13 years old and to be honest, never got more than $50 to spend (and even that was when I went to NY with jazz choir). I am probably not even going to get a credit card soon so most of the things described in the article was for ..... future reference??

The decision that the parents made was a good one, because at that age (16-18), parents can decide if they can trust their kids or not. If children  are given cars to drive and get their driving licence, that means parents already trust them far more than overspending money through credit card. The dangers of driving a car are much much greater than the dangers of a credit card.

Starting credit history can make banks trust you with their money. It is important to know how to use money, because your credit history is for life. In cases of emergency, credit cards are not the best to use. They would cost you more than a banking card. In some places, credit cards are not accepted and they would only accept cash.

The different options for credit card described are a good way to slowly give more and more responsibility to your child - first with prepaid card, then with a card with a limit. It feels like learning to ride a bike; you first have a toddler one, then you go to riding one with four wheels, then you learn how to bike on your own.

It is a difficult task to give opinion about subject we don't fully understand like this one. I had very little experience with money and banks until now.  On the other hand  this article might be a good start for my future learning.