Credit cards for teens and advantages are aimed at minors are not without their advantages. Parents, card companies, and teen themselves point out that credit cards aimed specifically at high-school aged children offer:
Many parents like the idea of teens having cards that can be used in an emergency. Teens can easily use the cards to get a taxi home or to get help if a car breaks down
Teens can use the card anywhere credit cards are used, meaning that they can enjoy the same spending experience as adults.
Credit cards leave a paper trail that can help teens – and their parents – review purchases and spending habits. This can help teens learn about budgeting.
Credit cards designed for teens can be a fairly low-risk way for teens to learn about online banking, credit cards, and money management – tools that will be very handy when they need to do these things on their own and with no parental guidance.
Easy to use and apply for
To apply for a teen card, teenagers need parental consent and some cash to place on the card. Applications are generally approved quite quickly and card transactions can be viewed online, helping teens to manage their accounts via secure web pages.
Shopping experiences that mirror real-life expectations
Most teens today shop over the phone and online. Credit cards allow them to do this rather than to rely on the mall for traditional shopping.
Safety features that help control spending and debt
Most teen cards are stored-value credit cards that work just like phone cards. Parents add money to the cards and teens can spend the money that is on the card. Also, even though credit card theft is a real possibility, teens can always call in a lost or stolen card and so safeguard their money. Cash is far easier to steal.