How should I help my daughter to make the correct decision?

My daughter has started receiving credit card offers. She is studying right now. She is not working now. How should I help my daughter to make a decision? What kind of credit card should she accept?

7 Answers

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Credit card is never a good option for your daughter as she may not be able to exercise financial discipline. Therefore, you can get a secured credit card for your daughter to make her understand the importance of a credit card. You can deposit a certain amount of money in the account and it can be used as her credit limit.  


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Ideally your daughter needs to learn to manage her personal finances before she goes on to own a credit card. The card companies have nothing better to do but advertise in the race to get prospective clients. Help her choose a card only when you're absolutely sure that she's capable of managing her own finances.


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Can I give her a prepaid credit card? 


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Yes debit cards are more manageable and for a young adult, this is perhaps the best option around. She can easily manage her funds and also establish a positive credit history.


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Sounds like she is an adult college student....she should get her own debit card.

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Yes, absolutely. This isnt the ripe age to own and use credit cards. If at all you want to train your daughter to manage her finances well, then you can give her debit card for that purpose.


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This is pretty easy.  She has no income and thus should not have a card...she needs to learn to live on cash which she doesnt have.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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