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Ackdugdegwendo | Can i get a debit or credit card at the age of 16? |
i have a bank account at lloyds tsb and i have a cash card already. but i would like to set up a credit or debit card to buy and sell online |
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babybear330682000
|
credit card=no, not until you are 18
debit card=yes, with a parents signature (had to do this for my 17 year old step son) |
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wizjp
|
No way for a credit card without a co-signer. YOur bank may offer a debit card; call them |
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BIG A
 |
yh can get a debit card |
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Ian M
 |
In the UK the Consumer Credit Act prohibits the provision of consumer credit of any form to persons under 18.
You can get a debit card BUT if you are using debit or credit cards for business purposes you DO NOT get the same level of protection that the ordinary consumer does.
Check www.bllondon.co.uk for advice on trading also
http://www.businesslink.gov.uk/bdotg/action/prgl?r.li=1079818866&r.l1=1073861197 |
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alatoruk
 |
you might be able to get a visa electron card.
you cannot have a credit card because you have to be over 18 to legally have credit.
the visa debit card uses the same system, it is possible for you to go overdrawn using it, which would be illegl, so they wont let you have one of them either.
the electron card uses a different system that effectively debits your account immediately so you cannot go overdrawn |
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Matomi
|
Generally, NO, unless you have a parent sign with you as you might have income, but are not of legal age to enter into a contract.
In my house, my wife is on my daughter's checking account (opened at 16, now 17) and we have a credit card we never used and added her name. We don't use it at all, but she must pay the bill IN FULL every month or she loses it. Why? So, she is in the habit, she never pays interest and she is trained to dislike debt, which is what kills most people financially and personally.
My advice, save 1/3 of what you make, 1/3 live on and pay your bills with the last 1/3 have fun. You will then learn to live within your means and not paycheck to paycheck. |
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phil b
|
you wont be allowed a credit card till your 18 but they will let you have a debit card on a current account with them
go see them and ask you might need to change accounts but that shouldn't be a problem |
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misspriss070807
 |
you can get a debit card, just ask your bank. but you can not get a credit card until you are 18. |
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Haza
|
You cannot get a credit card until you are 18. Best thing to do is speak to your bank they might give you a debit card, usually you'll get a solo card as you're quite young, or you maybe lucky and they'll give you a maestro (switch) card. |
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Rat
|
Yes, I think you can, but you'll have to check with your parents, the bank/company, and state laws first.
It would probably be easiest to get a debit card, which really isn't that difficult since you've already got a bank account. You will probably need a parent to co-sign, but that should be ok.
I wouldn't advise a credit card just yet. The interest is greater on them, and it's a lot easier to overspend and get screwed. If you spend too much with a debit card, then you have no money left and you'll be prevented from withdrawing more. If you spend too much with a credit card, then you'll be in debt and interest will build.
Make sure you're ready for the responsibility. I don't mean to nag, but a lot of people our age (that is, older teens and twenty-somethings) get into big financial trouble because they aren't credit savvy. Also, make sure that you're safe with your credit/debit card, since identity theft can strike anyone.
As long as you've got a good head about you, I think you should be ok with having a card of sorts. It just depends on what the bank and state say. |
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TopSavings.Net
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You will need your parents credit card to do that. They can add you to their credit card and have one shipped, but you won't be able to get your own until you are 18. |
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guesswho?
 |
Until you are 18, you'll need to use a debit card.
Your bank should give you one attached to an ordinary current account. |
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gill c
|
what on earth is a 16 yr old going to buy and sell on line plus a credit card is not the way to do business transactions as any profit would be gobbled up in interest charges. i really think you should re think your business plan. |
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