Credit Card for under 18 son
Jun 3, 2007, 11:39 am
#1
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Credit Card for under 18 son
Hi,
I have heard stories of people getting cc's for their dogs (maybe they were over 18) but I am trying to figure out if there is any way to get a cc (inparticular Chase Visa-UA) for my 16 year old.
Any one have any success. I know I can get him as a secondary on my card but I'd like to get him his own to get the full mileage bonus.
Cheers
I have heard stories of people getting cc's for their dogs (maybe they were over 18) but I am trying to figure out if there is any way to get a cc (inparticular Chase Visa-UA) for my 16 year old.
Any one have any success. I know I can get him as a secondary on my card but I'd like to get him his own to get the full mileage bonus.
Cheers
Jun 3, 2007, 12:10 pm
#2
Join Date: Jul 2001
Location: DTW
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Posts: 5,040
I don't believe it is legal for a minor to have a credit card of their own. I'm not a lawyer, but I believe it has to do with those under 18 not being able to legally enter into a contract agreement. I doubt getting one for your dog is legal too, but I wish mine had social security numbers so I could get more tax deductions.
You can add him to one of your accounts. This would also give him the benefit, assuming your credit is good, of extending his credit history based on when you opened your card. According to Experian I've got credit history from three years before I was born since my parents put me on one of their CCs many years ago.
You can add him to one of your accounts. This would also give him the benefit, assuming your credit is good, of extending his credit history based on when you opened your card. According to Experian I've got credit history from three years before I was born since my parents put me on one of their CCs many years ago.
Jun 3, 2007, 1:27 pm
#3
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National Public Radio report from February 2005 asserts that it is "not illegal" to issue cards to minors (listen to the story, the written synopsis says the opposite.) Nonetheless there are important legal considerations because a minor is not responsible under law for the debt.
http://www.npr.org/templates/story/s...toryId=4488488
http://www.npr.org/templates/story/s...toryId=4488488
Jun 3, 2007, 7:08 pm
#4
Join Date: Dec 2006
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I have received my Mobil Credit Card when I turn 17 and few month later received a $8000.00 credit line from Chemical Bank Visa. Still have that account from Chase now.
So it is possible. Let him apply for a gas or department store card and use it for few month. Then, may be he will be lucky as I was and will receive a pre-approved offer from a Chase bank.
GL
I have received my Mobil Credit Card when I turn 17 and few month later received a $8000.00 credit line from Chemical Bank Visa. Still have that account from Chase now.
So it is possible. Let him apply for a gas or department store card and use it for few month. Then, may be he will be lucky as I was and will receive a pre-approved offer from a Chase bank.
GL
Jun 3, 2007, 7:11 pm
#5
Join Date: Jan 2005
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RBC explained that I was not allowed to get my own when I was 17. However, I was added as a secondary member on my dad's card. As soon as I turned 18 I was able to get my own, seperate card.
Cheers
Cheers
Jun 4, 2007, 11:24 am
#7
Join Date: Jan 2007
Posts: 5,679
I was added to my folks Amex card when I was 16. At the time I'd never had a job, nor had ever been issued a SSN. To this day on some credit reports a warning appears at the top stating that my credit history pre-dates my SSN. As long as someone over 18 who's going to be responcible for the debts they'll issue just about anyone a card. In fact there are some programs targeted for kids under 12.
This bankrate article sums of the pros and cons of the various options:
http://www.bankrate.com/brm/news/cc/...it_card_a4.asp
This bankrate article sums of the pros and cons of the various options:
http://www.bankrate.com/brm/news/cc/...it_card_a4.asp