can a ten year old get a debit or credit card

Can a Ten Year Old Get a Debit Card or Credit Card?

Can a Ten Year Old Get a Debit Card or Credit Card?

Plastic: we love it, we hate it, but it’s just that convenient! Now days, physical money just isn’t used as much as it once was. We have made the switch over to plastic cards, which magically transfer the owed balance to those we are indebted to. Well, not really; that magnetic strip sends everything the computer needs to know within a nanosecond, giving you the ability to pay quickly and easily. However, it can be tricky for kids to get these handy dandy cards, and with good reason: legal consent age is 18. Therefore, your parents might have to lend you a hand.

Can a 10 Year Old Get a Credit Card By Themselves?

can a ten year old get a debit card or credit card
Unfortunately, a ten year old is not able to get their own shiny credit card. At 10, you’re not of legal age to sign paperwork for the credit.

Unfortunately, kids cannot open their own credit card accounts. The reason is because credit cards don’t operate on your money; they operate with borrowed money. You use it to pay for something immediately, then you pay the company back later. In order for a credit company, such as Capital One, Chase, or American Express to give you access to money, you have to sign a contract saying that you are responsible. If you aren’t 18, you can’t sign a legal document. So no, a 10 year old cannot get their own credit card.

Although, your parents’ account MAY allow them to issue a credit card in your name! You will need to ask your mother or father about this. However, a parent will not even consider this if you’re not aware of money management or how a credit card works.

Can a Ten Year Old Get a Debit Card?

Can a ten year old get a debit card
If a 10 or 11 year old wants a debit card, he or she is going to have to ask his or her parents. They will have to create the kid’s bank account if possible.

Usually, anyone under the age of 18 cannot open banking accounts. However, there are some that will with a parent’s signature. They can open the accounts for their children, but they are held liable for charges or overdrafts. If your parents’ banking institution allows this, then yes! A ten year old can get a debit card!

You should ask your mother or father to call or visit their banking institution. Then, they can ask a teller or manager whether or not they offer special kid’s banking accounts. If nothing else, most banks offer savings accounts for children. While this might mean you will not be getting a debit card, it means you will have a safe place to store your money until it is needed!

Can a 10 Year Old Get a Prepaid Debit or Credit Card?

Debit cards for kidsFor starters, there is no such thing as a prepaid credit card; the reason being that a credit card operates as a loan. A prepaid kids debit card has to have money added to the account before the card can be used. Fortunately, there are tons of places to reload these cards! They usually have small monthly charges, but that’s only a tiny price to pay to keep your spending money safe.

visa prepaid cardSome of these cards may involve paperwork and social security numbers so make sure that your parents are there to help you just in case you need help with that. Other ones, such as prepaid visa re-loadable gift cards, don’t usually ask for all of that additional information. The cool thing about those cards is they are re-loadable, and they can be used anywhere that Visa cards are accepted.

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