What debit card can i get that has high monthly interest rates available to 16 year olds?

Question

i want to be able to shop on the internet with it

and take out money from minibanks

Answer 1

First off: Debit cards don't have interest rates. Because they draw from your own bank account, it only lets you spend money you have. If you try to use it for a purchase and it costs more than you have in the bank, it'll either be declined or you'll overdraw your account and have to pay the bank a fee in addition to the overage. All you should need for a debit is to go to a bank in your area, open an account, and tell them you want a debit card. They may want a parent to sign on the account with you since you're under 18, but it should be a fairly easy process.

Second: If what you want is a credit card (where you spend money you don't have because you've promised to pay it back in monthly installments), you'll definitely want a LOW interest rate. Every time you use a credit card, you not only have to pay back the cost of what you bought, but also an additional percentage of interest. The rate for purchases is usually lower than the rate for taking out cash. As far as I know, most credit card companies will not give you a credit card at the age of 16. Since you're technically a minor, they can't start a contract with you because it could be voided in court. Again, you might try asking your parents if you can have a credit card and see if they'll get you your own card to use on one of their accounts.

Good luck

Answer 2

Debit cards don't charge interest, you are thinking of credit cards. With a debit card the money comes straight our of your bank account. You can shop till you drop with it as long as you have the money in your account.

You can also take out money from cash dispensers again as long as you have the money in your account.  

Answer 3

Surely you want low interest rate. High interest rate means you pay back more.

If you are 16 and judging by your question, might I suggesting waiting until you are either older, or, understand how thee cards work.

Answer 4

Like others have said, a debit card is attached to your bank account (either checking or savings) and do not have interest rates.  You will not be able to get a credit card without an adult co-signer because you are a minor.    

Answer 5

debit cards don;t have interest rates at all - never mind high - if you want "high interest rates (3% if you're lucky), you have to put your money in a bank cd for 6 months or more and then you can't spend it for 6 months - a debit card is for spending - any money stored on it isn;t invested anywhere - so there is no interest income