Whats the pro's and con's of giving a teenager a debit card???

Question

Whats the pro's and con's of giving a teenager a debit card???

Answer 1

a teenager will go on a spending spree and essentially take it all from your bank account unless you trust the teenager. Better thing is to open a credit card in your name and give them a fixed limit ($300) so they learn how to manage money. Debit card is tied to your bank. Do you really want to take the chance of risking your bank account? Teenagers should be taught how to handle plastic. Best way is to get them a credit card with a fixed small limit so they dont get too over their heads. Learn to walk before run.