Credit card for Kids

[Neeranam]

Does anyone here have a credit card for their children?

I'd like to get my teenage kids a credit card in their names, while being able to control the limit myself. 

This will save me time and also inbred their credit rating.

[asiaexpat]

I am sure there is no Credit Card available for those underage but possibly a money card like that issued by Superrich and some banks may be available.

[Langsuan Man]

I don't know if you can do it in Thailand but US Credit Cards are easy to obtain in another persons name, but you will ultimately be responsible for the bill but is a good way to boost a young persons credit rating 

[sanmyintmaung]

Kasikorn Bank allow Supplementary Card Applicants from 15 years of age.

[asiaexpat]

6 minutes ago, sanmyintmaung said:

Kasikorn Bank allow Supplementary Card Applicants from 15 years of age.

I stand corrected. 

[FritsSikkink]

14 minutes ago, Langsuan Man said:

I don't know if you can do it in Thailand but US Credit Cards are easy to obtain in another persons name, but you will ultimately be responsible for the bill but is a good way to boost a young persons credit rating 

If you get them in another persons name, how can it boost someone else's credit rating?

[Neeranam]

10 minutes ago, FritsSikkink said:

If you get them in another persons name, how can it boost someone else's credit rating?

Because it is their card.

[Neeranam]

15 minutes ago, asiaexpat said:

 

 

 

23 minutes ago, sanmyintmaung said:

Kasikorn Bank allow Supplementary Card Applicants from 15 years of age.

Thanks, I'll check them. My kids will be traveling abroad themselves, aged 13 and 17

[FritsSikkink]

27 minutes ago, Neeranam said:

Because it is their card.

But they have no legal responsibility for the credit.

[Langsuan Man]

22 hours ago, FritsSikkink said:

But they have no legal responsibility for the credit.

Yes they do, they are the "first" debtor, since the card is in their name and social security number.  Only after they don't pay, is the "sponsor" responsible for the bill, and if paid the sponsor will not get hit with the bad credit report, but the card holder will have just tanked their credit 

[FritsSikkink]

14 minutes ago, Langsuan Man said:

Yes they do, they are the "first" debtor, since the card is in their name and social security number.  Only after they don't pay, is the "sponsor" responsible for the bill, and if paid the sponsor will not get hit with the bad credit report, but the card holder will have just tanked their credit 

It is a nice construction but because they are kids, legally they can't be forced to pay, that is why they need a sponsor.

[marin]

When I first travelled over here my Amex card was tied to my dads account. It was for "emergencies only" being young I never really was very careful with it and used it too much. I never saw a bill it went direct to my dads account. I would imagine these supplementary cards still work the same way. I had no credit rating at all from it... Also had a <deleted> off father when I got home 3 months later..

[Macthehat]

Get a starling (debit card ) for them and you can limit and see real time what has been withdrawn and where . There is no fee to pay starling only the usual atm fees unless they go into the bank and withdraw . I've read recently that going into the bank with your card and withdrawing is free . Apparently "starling" has been voted the best bank 2 or 3 years in a row , so they must be doing something right . 

Edited January 18, 2020 by Macthehat
Spelling error

[scorecard]

On 1/17/2020 at 2:46 PM, Neeranam said:

Because it is their card.

But if your talking about a card where the user / carrier of the card is a kid but payment is the responsibility of the father, mother etc., then the kid is not in control of whether the card is paid on time etc. So how can it be a valid credit score process for the kid?  

[scorecard]

2 hours ago, Macthehat said:

Get a starling (debit card ) for them and you can limit and see real time what has been withdrawn and where . There is no fee to pay starling only the usual atm fees unless they go into the bank and withdraw . I've read recently that going into the bank with your card and withdrawing is free . Apparently "starling" has been voted the best bank 2 or 3 years in a row , so they must be doing something right . 

Gogle says this bank is in the UK and it's scope is UK. Can it be used abroad?

[Muzarella]

3 hours ago, scorecard said:

Gogle says this bank is in the UK and it's scope is UK. Can it be used abroad?

Most Visa, Master Card, ATM or CC, could be used around the world, but some needs authorization from the company or bank. If the card works OK doing online shopping, also is OK to use it in any foreign ATM.

[thaiowl]

I got both my kids a card on my Thai Citibank credit card:

"Supplementary Card Applicant must be in between 15 – 80 years old"

[Max69xl]

Are your kids thai nationals? 

Every bank has a website with the info needed. In English. Much easier to get the correct info there compared to asking here at TV. 

[johndudorn]

I have added several grand children over the years to my credit card accounts, when they were young adults 18+. Less than a year later their credit score were high 700's to over 800. One just recently purchased their first home, Yes I am responsible but they do credit them as if they paid the bill as well... The credit cards have their name but my account number...