• Striker@lemmy.worldM
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    1 year ago

    What if someone is starting off getting their first credit card as a teen? Wouldn’t the credit score be zero?

    • ryathal@sh.itjust.works
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      1 year ago

      There’s a difference between bad credit and no credit. Some places refuse both, but you can find places that will deal with no credit.

    • bobs_monkey@lemm.ee
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      1 year ago

      Basically, but they call it a thin file (aka no credit history). If you don’t have someone to cosign, they’ll start you off with a secure card, where you pony up a couple hundred bucks and borrow against yourself until you establish good history.

    • JusticeForPorygon@lemmy.sdf.org
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      1 year ago

      No teenager should be given a credit card under any circumstances. That’s a great way to find yourself bankrupt.

      Edit: Guys are we talking about credit cards or debit cards? There’s a significant difference between the two and there’s a lot of people telling me they had credit cards as teenagers, which seems unthinkable to me.

      • Treatyoself@lemmy.world
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        1 year ago

        Not when teens have access to finance 101 classes in high school. It was an elective in my HS and you better believe I took it. I learned how to do my taxes, balance a budget. It was great. I wish this was a hard requirement for all HS students.

        But I will agree, teenagers are pretty stupid. but at least I was a knowledgeable stupid teenager.

      • dingus@lemmy.world
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        1 year ago

        I got my credit card as a teen and never used it like a dumbass. Teaching people about money goes a long way.

    • spacecadet@lemm.ee
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      1 year ago

      In my case, it was with the bank I already had a checking account with and the credit limit was like $500. They normally start you off with a super low limit and a high interest rate.