Tuesday, August 24, 2010

Do you need a parent in order to get a Credit Card?

Hi, i'm 14 years old and I already have a job.Do you need a parent in order to get a Credit Card?
No, you do not need a parent. You need 4 more birthdays.Do you need a parent in order to get a Credit Card?
Yes. You can't legally have a credit card until you're 18 unless a parent creates a card under their name and gives it to you. You may be able to get a debit card however, which will use money directly from your bank account, but it's still going to depend on what bank you choose.
You have to be 18 before you can get a credit card. Just because you have a job doesn't mean you should get a credit card, the second you turn 18. Credit cards are nothing but trouble, there are high interest rates and late fees if you don't pay on time. I was in debt so bad that the credit card company started garnishing 25% of my paychecks. I had such a low credit score I couldn't even get a car loan if I wanted to. I payed the balance off at least 3 times, and it still wasn't payed due to late fees and interest. I thought that by having a job, getting a credit card would be ok. It's thought that at the time, pulling out ';the card'; to pay for items would be ok, because I would tell myself that I would pay it back right away. Then the bill comes for $200+ in charges, it's hard to make a payment when the minimum due is around $80. Before you know it you're only paying half of the minimum due, and that's when all hell breaks loose, and you're suddenly in debt over your head! So take my advice, I'm 26 now, I've payed my debt off after 2 years of being on a payment plan with the company. I have a good enough credit score now, so I got a car loan to get a new car. I have 3 credit cards I still use, only department store cards that I pay off immediately to avoid penalty's and late charges. I just hope you don't make the same mistake I, and thousands of others have- don't get a credit card!!!!!

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