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You know your child. You should know how young adults can be. Instead of adding your young adult to your card, let them go to the bank and establish a secured card. Add something like $1k to the card (that could cover many emergencies) and then she could start to establish her credit based off her savings.
I never had a problem renting a hotel room at 18. I've never been asked what my age is when I have checked in.
I provide a card (it is a CC with rewards program) and my ID. Pretty simple.
Before I did CC, I would always use my debit with the visa logo. Pretty simple. Deposit was always a freeze on a certain amount of money.
Although 19 is "adult," hotels and car rental companies still have different rules for them. If this parent were treating the 19-year-old as a kid, the girl wouldn't be going on the trip to begin with. It is wise to think ahead on this.
And yet she is calling her a child and she has no credit. At 19.
The hotel will have you fax in an authorization if you book it under your card. Just call them, it's no big deal. If she uses her debit, realize that the hotel will put an extra hold on funds for incidentals and it won't drop off for 48-72 hours after checkout so if her money is tight, that mouse a problem.
Old Trader, you're basic advice may be a good plan for you, but let's be real: most people don't have "thousands of dollars" in their checking accounts like you do. They don't have resources to credit lines of $200k+ like you do. The bankers don't know them personally, let alone know their voice over the phone.
I am NOT advocating abusing credit cards. But I'd bet the majority of people would have to pay for "thousands of dollars of Red Oak flooring" by spreading the payments over several months - using cc, a line of credit on their house, or skipping those important 401k contributions.
Furthermore, if some bad guy gets his/her hands on a debit card, you are NOT as protected as you are with a credit card. https://www.consumeraffairs.com/news...er-061416.html I know that most banks have fraud protection IF YOU REPORT THE FRAUD WITHIN TWO DAYS. That's an important distinction.
And if a checking account gets cleaned out, it can take WEEKS or longer to get that money back into your account. You know what happens to everybody else who doesn't have the resources that you do? They miss rent payments and risk eviction. They miss mortgage payments and screw up their credit.
I'm lucky enough to not have to worry about this stuff. I have resources to cover my risks. But, dude, your advice is way off the mark for most people in reality land. It's unrealistic and flat out BAD ADVICE.
AGREED! Most credit card has fraud protection. Your bank account can be cleaned out with debit card.
And yet she is calling her a child and she has no credit. At 19.
Parents call their children children, no matter how old they are. It's a relationship term, not an age term. If someone asks my parents how many children they have, they'll say 5. Yet the youngest is 50 - hardly a child.
Many 19-year-olds are still in high school. Most still are financially dependent on their parents. Those who are on their own generally still can benefit the advice and guidance of their parents and other older family members.
At 19 I had completed my B.A. and was completely on my own. However, I never even applied for credit until I was 30. Not everyone follows the same path, and not everyone should. Maybe OP's daughter will realize the benefits of having a credit card due to this trip. Or maybe she has seen friends get into financial difficulty with credit cards. We don't know. Either way, there's nothing in OP's posts to suggest that this young woman is irresponsible or immature, just as there is nothing to suggest OP is a mother, rather than a father.
And yet she is calling her a child and she has no credit. At 19.
And this is bad?
What if she's a 19 year old Senior in high school or Freshman in college who only works part time or not at all and isn't CREDIT WORTHY yet?
Or are we still pretending it's cool for the credit card companies to suck in young college students with loads of debt by sponsoring beer volleyball during Freshman Week at school?
Whoops.
You'd be incorrect.
The CARD Act of 2009—signed into law last May, with many provisions going into effect today—will offer protections for college-age consumers who are coveted by card issuers. Anyone under 21 must either have a cosigner or be able to prove a means of repayment—steady income, assets, or a sturdy credit rating—in order to obtain a card. While card issuers are still allowed to solicit students on campus, they can no longer do so without informing regulators. The days of hungry students signing up for a credit card in exchange for free pizza are gone as well, as issuers are forbidden from offering giveaways or freebies to lure students into card agreements
I pay cash for everything, and have booked numerous rooms using my debit card. Your daughter should be able to do the same thing. Whenever I make a reservation they simply ask and I say it is a Visa, card number XXXXXXXXXXXXXXXXXX. No questions.
We use our debit cards for everything without issue.
There is no reason to get a credit card, use cash only, stay out of debt.
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