I used my Amex's to teach partner's daughter about CC's. Amex and NFCU allow you to set limits on your AUs. Her limit is set to $500. It normally takes 6 months before they can open their own CC if no credit history.
@Anonymous wrote:
That's the dilemma. His mom ( he's my stepson) has great credit. Her cards range from 9k-30k. So she is probably more suited to getting it to report (same last name)
Being an AU he's probably get a good card to start at 18. I want to take away temptation and have him earn it so to speak.
We've both earned everything and I feel our kids should earn stuff too. This day and age most kids feel entitled to it and don't want to earn it. I'm not saying he will but the temptation can be overwhelming. I'd feel more comfortable with a 300-500 SL. But I think I can do an AU with a custom SL. and when dad n mom are knocking on his door to collect a debt it's going to be a different out come than the mail mail delivering a letter. That will also give us access to the account.
The parents are the problem there. I don't know why parents nowadays think that they were so deprived and just want the world for their children. I read a local newspaper article a year or two back and the writer was talking about her Christmas shopping for her children. She bought her 10 year old a Macbook Pro. A ten year old. When I was 10, I used my family's computer (and even then, my time on it was very limited since I didn't need it for school then). I got my first electronic device when I was 13; it was a Discman that I mowed the lawn for (took me 5-6 hours on a push mower, would've cost $50+ professionally at the time) $20 a week and saved up for it. Meant the world to me and I'm glad my parents made me earn it.
But anyway, if you would like to go that route, when he turns 18, have him get a secured card (have him use his own funds). It's his money on the line and it'll teach him responsbility while building credit. That will help him earn it instead of making him an AU and letting him get huge approvals off the bat.
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@Callandra wrote:
@Anonymous wrote:
That's the dilemma. His mom ( he's my stepson) has great credit. Her cards range from 9k-30k. So she is probably more suited to getting it to report (same last name)
Being an AU he's probably get a good card to start at 18. I want to take away temptation and have him earn it so to speak.
We've both earned everything and I feel our kids should earn stuff too. This day and age most kids feel entitled to it and don't want to earn it. I'm not saying he will but the temptation can be overwhelming. I'd feel more comfortable with a 300-500 SL. But I think I can do an AU with a custom SL. and when dad n mom are knocking on his door to collect a debt it's going to be a different out come than the mail mail delivering a letter. That will also give us access to the account.The parents are the problem there. I don't know why parents nowadays think that they were so deprived and just want the world for their children. I read a local newspaper article a year or two back and the writer was talking about her Christmas shopping for her children. She bought her 10 year old a Macbook Pro. A ten year old. When I was 10, I used my family's computer (and even then, my time on it was very limited since I didn't need it for school then). I got my first electronic device when I was 13; it was a Discman that I mowed the lawn for (took me 5-6 hours on a push mower, would've cost $50+ professionally at the time) $20 a week and saved up for it. Meant the world to me and I'm glad my parents made me earn it.
But anyway, if you would like to go that route, when he turns 18, have him get a secured card (have him use his own funds). It's his money on the line and it'll teach him responsbility while building credit. That will help him earn it instead of making him an AU and letting him get huge approvals off the bat.
I just think its society as a whole. disipline has gone to the way side, I can say I don't blame the parents on that. I was actually in court to get my ex wife to start paying me child support. There was a couple at the judges bench. The mother made an alligation the father (who had custody) spanked the child. So he asked the father. did you spank the child. The father said yes I did. "I won't spare the rod and spoil the child" The judge filed a complaint with child protective servces against the father. And considered spanking your child military style disapline. I was like WTH!!! This is what we're becoming. I got my A$$ beat when i was a kid, but it made me a respectful young man, It wasnt "abuse" like these kids claim now a days. I've been at my job for over 20 years now. And about 90% of the kids come though there making 18hr, topping out at 26hr and its never enoough, they complain about how the deserve what I have. I'm like dude you've been here 6 months and you EXPECT 40hr? weekends off? WTH. i started at 8 bucks an hr, worked night, weekends, swing shifts, odd days off. I didnt complain once. It is what it is. I spank my kids IDGAD.
back on track here lol. We are going to go the AMEX route, put a SL of 300, stipulation PIF end of the month. then at 18 in 11 months see what hes learned. Im sure he'll make mistakes but he's a smart kid. So first time he owes us 300 bucks it will sting and he wont do that again, cause his momma shows no mercy LOL. heck I pay her rent on the first when my shoes hit the front door...
j/k
@Anonymous wrote:
@Callandra wrote:
@Anonymous wrote:
That's the dilemma. His mom ( he's my stepson) has great credit. Her cards range from 9k-30k. So she is probably more suited to getting it to report (same last name)
Being an AU he's probably get a good card to start at 18. I want to take away temptation and have him earn it so to speak.
We've both earned everything and I feel our kids should earn stuff too. This day and age most kids feel entitled to it and don't want to earn it. I'm not saying he will but the temptation can be overwhelming. I'd feel more comfortable with a 300-500 SL. But I think I can do an AU with a custom SL. and when dad n mom are knocking on his door to collect a debt it's going to be a different out come than the mail mail delivering a letter. That will also give us access to the account.The parents are the problem there. I don't know why parents nowadays think that they were so deprived and just want the world for their children. I read a local newspaper article a year or two back and the writer was talking about her Christmas shopping for her children. She bought her 10 year old a Macbook Pro. A ten year old. When I was 10, I used my family's computer (and even then, my time on it was very limited since I didn't need it for school then). I got my first electronic device when I was 13; it was a Discman that I mowed the lawn for (took me 5-6 hours on a push mower, would've cost $50+ professionally at the time) $20 a week and saved up for it. Meant the world to me and I'm glad my parents made me earn it.
But anyway, if you would like to go that route, when he turns 18, have him get a secured card (have him use his own funds). It's his money on the line and it'll teach him responsbility while building credit. That will help him earn it instead of making him an AU and letting him get huge approvals off the bat.
I just think its society as a whole. disipline has gone to the way side, I can say I don't blame the parents on that. I was actually in court to get my ex wife to start paying me child support. There was a couple at the judges bench. The mother made an alligation the father (who had custody) spanked the child. So he asked the father. did you spank the child. The father said yes I did. "I won't spare the rod and spoil the child" The judge filed a complaint with child protective servces against the father. And considered spanking your child military style disapline. I was like WTH!!! This is what we're becoming. I got my A$$ beat when i was a kid, but it made me a respectful young man, It wasnt "abuse" like these kids claim now a days. I've been at my job for over 20 years now. And about 90% of the kids come though there making 18hr, topping out at 26hr and its never enoough, they complain about how the deserve what I have. I'm like dude you've been here 6 months and you EXPECT 40hr? weekends off? WTH. i started at 8 bucks an hr, worked night, weekends, swing shifts, odd days off. I didnt complain once. It is what it is. I spank my kids IDGAD.
back on track here lol. We are going to go the AMEX route, put a SL of 300, stipulation PIF end of the month. then at 18 in 11 months see what hes learned. Im sure he'll make mistakes but he's a smart kid. So first time he owes us 300 bucks it will sting and he wont do that again, cause his momma shows no mercy LOL. heck I pay her rent on the first when my shoes hit the front door...
+1 with the idea of adding him as an AU and then putting a limit on it. When I was an AU on my parent's Amex as a teenager, I had a limit imposed as well. As I got older, the limit was raised. This way you as the parent can see how your child handles responsibility and then adjust accordingly.