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I'm curious does your 12 year old have their own debit card which is only linked to their checking or savings account? Or is it linked to your account/accounts?
What does your 12 year old usually buy with the debit card? Do you do this because you don't like them to carry cash or is the card just for "emergencies"?
It's linked to her checking account. I am able to monitor purchases online, and it is generally kept at a low-ish balance (~$50) so we do not risk her blowing the bank on junk.
Money from her savings account is not linked to the debit card.
She buys the typical 12-year-old girl stuff: movie tickets, ice cream treat, a hot chocolate, accessories, etc.
Maybe it is different in big cities, or in places where 12 year olds do a lot of shopping on their own, but I don't know anyone who gives their middle school age child a debit card or a credit card. Do many credit card companies even issue cards to 12 year olds? Ditto with debit cards?
Personally, my children had credit cards and checking accounts, in their own names, just before they went away to college, which is/was common among my friends.
Now, I can see where HS students who do a lot of out-of-town traveling by themselves or do all of their shopping for clothes & other things by themselves could benefit with their own credit or debit card, especially if they have jobs and use their own money. In some ways it may be easier for a parent to monitor their spending when they are living at home than when they are legally adults, living many miles, even thousands of miles away at college.
I used to work retail in the 2000s. We were not allowed to take cards from minors. I don't know if it's a store or chain policy. I know part of the reason where I worked didn't do it was because in the past minor children of frequent customers would buy stuff this way and claim they were making the purchase for the parent. "Like my dad/mom wanted X, but sent me". Only for us to get a call, or visit, stating they (the parent) didn't authorization the purchase. Why not call the bank? (Or cut them off?) I also know minors wouldn't have ids unless they were 16 (drivers licences). I don't know why any store would take debit/credit cards from a minor? Just doesn't seem worth the risk, even if legit.
Yep, our kids got debit cards when they were 13 (that is as soon as our bank would let them have their own). They were separate accounts, in their name, but I had to be an authorized user on the account. I could transfer money as needed, they would deposit money they made babysitting or whatever too. It was great when they went shopping with friends or whatever. I could load however much money on their accounts and didn't have to worry about having cash for them, etc. As they got older and were driving, it was so nice to be able to text them "pick up some milk on the way home from school" and then just load some money on their accounts.
I used to work retail in the 2000s. We were not allowed to take cards from minors. I don't know if it's a store or chain policy. I know part of the reason where I worked didn't do it was because in the past minor children of frequent customers would buy stuff this way and claim they were making the purchase for the parent. "Like my dad/mom wanted X, but sent me". Only for us to get a call, or visit, stating they (the parent) didn't authorization the purchase. Why not call the bank? (Or cut them off?) I also know minors wouldn't have ids unless they were 16 (drivers licences). I don't know why any store would take debit/credit cards from a minor? Just doesn't seem worth the risk, even if legit.
We never had an issue with our kids using their cards but their cards were in their names and before they were driving, had a school id with photo they could use if needed.
I used to work retail in the 2000s. We were not allowed to take cards from minors. I don't know if it's a store or chain policy. I know part of the reason where I worked didn't do it was because in the past minor children of frequent customers would buy stuff this way and claim they were making the purchase for the parent. "Like my dad/mom wanted X, but sent me". Only for us to get a call, or visit, stating they (the parent) didn't authorization the purchase. Why not call the bank? (Or cut them off?) I also know minors wouldn't have ids unless they were 16 (drivers licences). I don't know why any store would take debit/credit cards from a minor? Just doesn't seem worth the risk, even if legit.
I'm surprised by this. I bet you got more calls from angry parents on why their kid couldn't buy something that they had asked them too. I worked a part time job for a few months at Target. We had quite a few teens come in and purchase stuff with debit cards. Most states you can get a non driver ID (New Jersey gives one to kids 14 and over) and my state also gives non driver ID's. A lot of schools also have school ID's these days.
I'm surprised by this. I bet you got more calls from angry parents on why their kid couldn't buy something that they had asked them too. I worked a part time job for a few months at Target. We had quite a few teens come in and purchase stuff with debit cards. Most states you can get a non driver ID (New Jersey gives one to kids 14 and over) and my state also gives non driver ID's. A lot of schools also have school ID's these days.
Yes, I also worked retail late 90's, early 2000's and we would not accept a credit card from a minor. Things have changed I guess, but my kids will not be getting one until they are at least 16 or 17 with their own account. I will also teach them how to use the account and to be responsible. I will NOT be adding them as an authorized user on my credit card; however, when they turn 18 I MIGHT get a secured one with a low limit of say $500 to teach them and help build credit. Using credit cards at such a young age could really set them up for a financial disaster when they are older. Credit is a powerful tool and shouldn't be taken lightly by parents IMO. I also think the basics of checking and savings accounts balancing a checkbook, along with credit cards, loans and mortgages should be a mandatory class for kids in high school. Sadly it's not.
My kids will get them when they get jobs. My son is almost 16, so that is coming up quickly. There's no way I'd give either of my teens a debit card attached to my account.
My sister (who doesn't have kids) seemed really surprised by the fact that my 12 year old has a debit card. (As do my 16 and 17 year olds.)
I don't know where your sister lives, but here in Canada it is standard practice to receive a debit card when you open a bank account, regardless of your age. How else are you supposed to use an ATM?
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Why not call the bank? (Or cut them off?) I also know minors wouldn't have ids unless they were 16 (drivers licences). I don't know why any store would take debit/credit cards from a minor? Just doesn't seem worth the risk, even if legit.
