My kid needs a credit card

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Hovannes
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My kid needs a credit card

Post by Hovannes » Wed Jan 09, 2019 8:02 am

He has a debit card, but that won't help much as he is spending his summer working and traveling in Europe and will need a cc for security deposits, etc...
He's 18 with no credit History.
Any ideas? Suggestions on how to get by without a cc in Europe?
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Re: My kid needs a credit card

Post by gaining_age » Wed Jan 09, 2019 8:11 am

Does he have cash enough to cover?

Debit cards work there.

Travel cards can have perks but he may or may not meet requirements: https://www.bankofamerica.com/credit-ca ... edit-card/

No annual fee. No foreign transaction fee. May be worth applying for -- see if can qualify.

Scary alternate scenario:
It could be possible for you to get the travel card and for him to be an allowed card user. That means it is all your credit and responsibility. That would be scary.
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Re: My kid needs a credit card

Post by Hovannes » Wed Jan 09, 2019 9:21 am

Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
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Re: My kid needs a credit card

Post by gaining_age » Wed Jan 09, 2019 9:37 am

Hovannes wrote:
Wed Jan 09, 2019 9:21 am
Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
If Visa is on his debit card he would be ok-- but he would be better off (likely) to withdraw cash (do have a four digit pin rather than something longer) and face a transaction fee once vs. each time he might buy something.
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Re: My kid needs a credit card

Post by hugodrax » Wed Jan 09, 2019 9:54 am

gaining_age wrote:
Wed Jan 09, 2019 9:37 am
Hovannes wrote:
Wed Jan 09, 2019 9:21 am
Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
If Visa is on his debit card he would be ok-- but he would be better off (likely) to withdraw cash (do have a four digit pin rather than something longer) and face a transaction fee once vs. each time he might buy something.
Are you telling an impecunious youth, gallivanting around the seedier portions of England and Germany, to carry a large sum of cash about his person? You’re taking the piss, mate.
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Re: My kid needs a credit card

Post by gaining_age » Wed Jan 09, 2019 11:30 am

hugodrax wrote:
Wed Jan 09, 2019 9:54 am
gaining_age wrote:
Wed Jan 09, 2019 9:37 am
Hovannes wrote:
Wed Jan 09, 2019 9:21 am
Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
If Visa is on his debit card he would be ok-- but he would be better off (likely) to withdraw cash (do have a four digit pin rather than something longer) and face a transaction fee once vs. each time he might buy something.
Are you telling an impecunious youth, gallivanting around the seedier portions of England and Germany, to carry a large sum of cash about his person? You’re taking the piss, mate.
Frequency and quantity would be up to the lad. If he's to have a job then perhaps he'll have a local banking establishment then the distance "large sum" would be from ATM (or even at counter) to bank teller for deposit to open an account and get a local debit card.

Buying via many small purchases when there is a foreign transaction fee as well as possibly a card usage fee would be insane (per my budget minded self).

https://www.nerdwallet.com/blog/banking ... -atm-fees/

If I were the lad, I'd be looking at the safest and most reasonable method (against costs) for gaining access to the funds.

Large for the lad may be $100 ==> or 100 Euros. I don't know his situation-- but a card transaction for a single Euro bottle of water could end up costing more than $5.00. Who's robbing him in this situation?
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Re: My kid needs a credit card

Post by hugodrax » Wed Jan 09, 2019 11:45 am

gaining_age wrote:
Wed Jan 09, 2019 11:30 am
hugodrax wrote:
Wed Jan 09, 2019 9:54 am
gaining_age wrote:
Wed Jan 09, 2019 9:37 am
Hovannes wrote:
Wed Jan 09, 2019 9:21 am
Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
If Visa is on his debit card he would be ok-- but he would be better off (likely) to withdraw cash (do have a four digit pin rather than something longer) and face a transaction fee once vs. each time he might buy something.
Are you telling an impecunious youth, gallivanting around the seedier portions of England and Germany, to carry a large sum of cash about his person? You’re taking the piss, mate.
Frequency and quantity would be up to the lad. If he's to have a job then perhaps he'll have a local banking establishment then the distance "large sum" would be from ATM (or even at counter) to bank teller for deposit to open an account and get a local debit card.

Buying via many small purchases when there is a foreign transaction fee as well as possibly a card usage fee would be insane (per my budget minded self).

https://www.nerdwallet.com/blog/banking ... -atm-fees/

If I were the lad, I'd be looking at the safest and most reasonable method (against costs) for gaining access to the funds.

Large for the lad may be $100 ==> or 100 Euros. I don't know his situation-- but a card transaction for a single Euro bottle of water could end up costing more than $5.00. Who's robbing him in this situation?
Probably a really pissed off gang of Arabs.
Notre Dame de Paris, priez pour nous y comprise les Jesuites.

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Re: My kid needs a credit card

Post by TNLawPiper » Wed Jan 09, 2019 12:20 pm

Hovannes wrote:
Wed Jan 09, 2019 9:21 am
Ifa debit card will work, then he's good! He's been salting away his earnings & tips for the trip, has friends & relatives to stay with in the UK and Germany, and a job at a Dominos 8O waiting for him.
Do Europeans actually eat Dominos pizza? :barf2:
Alternatively, if he speaks with his bank ahead of time, they may be willing to waive his foreign transaction fees. That would likely depend on which bank he works with.

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Re: My kid needs a credit card

Post by Hovannes » Thu Jan 10, 2019 9:35 am

When our daughter went to Armenia and had to tell Visa which countries she'd be going to, or Visa would freeze her debit card.
We told him to see if Visa would the waive transaction fees.
The lad is stressing out.
Mom is stressing out.
I'm just amused.
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Re: My kid needs a credit card

Post by Jester » Thu Jan 10, 2019 10:53 am

Image
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Re: My kid needs a credit card

Post by Nature of a Man » Sat Jan 12, 2019 4:27 pm

When I was younger, credit cards were easy to come by even without credit history, maybe it's different now due to the economic recession.

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Re: My kid needs a credit card

Post by JohnnyMcPiperson » Sun Jan 13, 2019 1:21 am

Jester wrote:Image
Ha this sums up my thoughts to giving a young person a credit card, don’t ruin them for life in regards to management of personal finances. He should be living on a budget... one where he can run out of money if he’s not careful.


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Re: My kid needs a credit card

Post by sweetandsour » Sun Jan 13, 2019 1:40 am

Nature of a Man wrote:
Sat Jan 12, 2019 4:27 pm
When I was younger, credit cards were easy to come by even without credit history, maybe it's different now due to the economic recession.
You're referring to the '08-'09 economic recession?
I'm old but I'm happy. (Most of the time.)

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Re: My kid needs a credit card

Post by joegoat » Sun Jan 13, 2019 2:44 am

JohnnyMcPiperson wrote:
Sun Jan 13, 2019 1:21 am
Jester wrote:Image
Ha this sums up my thoughts to giving a young person a credit card, don’t ruin them for life in regards to management of personal finances. He should be living on a budget... one where he can run out of money if he’s not careful.


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I'm a Dave Ramsey fan. My wife and are on baby steps 4 and 6. That will only make sense to other junkies.
It's my understanding that a Visa debit card through a major bank will function the same as a Visa credit card.
Sending a youngster off on their own with a credit card to fund their trip sounds like a bad idea to me.
Sorry to add negativity rather than help. I can offer the following piece of advice when traveling. Walk loudly and carry a small bag.
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Re: My kid needs a credit card

Post by Nature of a Man » Sun Jan 13, 2019 12:53 pm

sweetandsour wrote:
Sun Jan 13, 2019 1:40 am
Nature of a Man wrote:
Sat Jan 12, 2019 4:27 pm
When I was younger, credit cards were easy to come by even without credit history, maybe it's different now due to the economic recession.
You're referring to the '08-'09 economic recession?
Yes, that's right.

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Re: My kid needs a credit card

Post by AFRS » Sun Jan 13, 2019 2:42 pm

As others have implied: credit is debt. Debt is slavery.

Can confirm - debit cards work in Europe. Transaction, exchange fees depend on the bank.

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