9 year old got preapproval

[Creditaddict]

Just use the free annual credit report to check on your sons credit not being used... or I feel like I have heard on Suze talk about a kids credit report and options for parents.

As for the pre-approval, forget that... just go directly on the Discover website and do the pre-approval link that way... I have not seen one get denied yet from friends that have used it.

[Anonymous]

I would get the card for Rover, just to put the paw print on the back and take him/her to Petsmart.

[crunching_numbers]

My kids get offers from Citi all the time because they have American Airlines FF numbers.  To make it easier for my kids (teens) to fill up the gas tanks or stop at the store for me, they both have BCP's cards as AU's on my account.  They will be AMEX members since 2012.  In a few months my 16 year old will have a FICO score.

[wmcodywilson]

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@crunching_numbers wrote:

My kids get offers from Citi all the time because they have American Airlines FF numbers.  To make it easier for my kids (teens) to fill up the gas tanks or stop at the store for me, they both have BCP's cards as AU's on my account.  They will be AMEX members since 2012.  In a few months my 16 year old will have a FICO score.

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I wish my mom had tought me better money managment skills and the importance of credit. She also had an amex but after a few years and when the economy collapsed she had closed her business becuase she was too afraid she was going to lose her clients. Since then, has defaulted on everything

Congrats though on getting your kids prepared. Im doing this now with my younger sister now that I realize how important it is.

[rckstrscott]

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@Anonymous wrote:

I would get the card for Rover, just to put the paw print on the back and take him/her to Petsmart.

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Like the Simpsons episode where Bart applied for the credit card under Santa's Little Helper and the card came for 'Santos L Halper' haha

-scott

[orl22]

Last week, my 14 year old got an actual card in the mail. It's a Netspend card. I guess it's a prepaid card that you card load through direct deposit and can be used just like a credit card. Supposedly helps build your credit but the fees are terrible. He can activate it by calling to number one the sticker. I'm surprised he got this.

[Crashem]

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@orl22 wrote:
Last week, my 14 year old got an actual card in the mail. It's a Netspend card. I guess it's a prepaid card that you card load through direct deposit and can be used just like a credit card. Supposedly helps build your credit but the fees are terrible. He can activate it by calling to number one the sticker. I'm surprised he got this.

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It's not credit card but pretty sure illegal for them to issue card to him without your permission. He is underage and can't sign contracts.

[Link2k]

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@Crashem wrote:

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@orl22 wrote:
Last week, my 14 year old got an actual card in the mail. It's a Netspend card. I guess it's a prepaid card that you card load through direct deposit and can be used just like a credit card. Supposedly helps build your credit but the fees are terrible. He can activate it by calling to number one the sticker. I'm surprised he got this.

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It's not credit card but pretty sure illegal for them to issue card to him without your permission. He is underage and can't sign contracts.

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Huh?

You do know any kid can take money to the local store and buy a prepaid card no questions asked. I highly doubt the prepaid card will actually help credit. Suze has a prepaid card and claims the same thing. Prepaid cards don't help unless they show up on your CR. 

[Crashem]

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@Link2k wrote:

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@Crashem wrote:

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@orl22 wrote:
Last week, my 14 year old got an actual card in the mail. It's a Netspend card. I guess it's a prepaid card that you card load through direct deposit and can be used just like a credit card. Supposedly helps build your credit but the fees are terrible. He can activate it by calling to number one the sticker. I'm surprised he got this.

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It's not credit card but pretty sure illegal for them to issue card to him without your permission. He is underage and can't sign contracts.

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Huh?

You do know any kid can take money to the local store and buy a prepaid card no questions asked. I highly doubt the prepaid card will actually help credit. Suze has a prepaid card and claims the same thing. Prepaid cards don't help unless they show up on your CR. 

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Pre paid cards do nothing for credit because they aren't credit. As for kids buying pre paid cards, I am not talking about gift cards, but pre paid cards like net spend that have a cardholder agreement that needs to be signed. Underage kids cant do it legally. But there is difference between what is legal and what is possible.

[Link2k]

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@Crashem wrote:

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@Link2k wrote:

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@Crashem wrote:

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@orl22 wrote:
Last week, my 14 year old got an actual card in the mail. It's a Netspend card. I guess it's a prepaid card that you card load through direct deposit and can be used just like a credit card. Supposedly helps build your credit but the fees are terrible. He can activate it by calling to number one the sticker. I'm surprised he got this.

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It's not credit card but pretty sure illegal for them to issue card to him without your permission. He is underage and can't sign contracts.

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Huh?

You do know any kid can take money to the local store and buy a prepaid card no questions asked. I highly doubt the prepaid card will actually help credit. Suze has a prepaid card and claims the same thing. Prepaid cards don't help unless they show up on your CR. 

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Pre paid cards do nothing for credit because they aren't credit. As for kids buying pre paid cards, I am not talking about gift cards, but pre paid cards like net spend that have a cardholder agreement that needs to be signed. Underage kids cant do it legally. But there is difference between what is legal and what is possible.

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Ah ok. I'm sure its possible but if he took the offer then they complained about it I would assume they would point to the fine print that likely says "must be 18" and ask why you signed up under false pretenses, even though they sent the offer to him.