3. How to Protect Your Teenager from Credit Card Debt? 02 Tips on how to guide your teenager from their credit cards and avoid debt. Teenagers when growing up want to access their money faster and make more considered decisions. In most cases the card is just a safety net for the service provider although critical for the teenager to use the service. Without a credit card they feel less independent and need to lean back on their parents.
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5. Restrict card limit to $300, $400 or $500. Westpac provides a student credit card for this.
6. Use a low interest card incase of over spending.
7. Review card usage after 3 months or particularly around key spending times like Christmas to determine if card is being used appropriately.
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9. Having a part-time or full-time job is not considered a prerequisite, as very often children ask their parents to pay their bills whenever they fall behind on payments or have oversized balances.
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12. Get good in the good books of the banks by paying finance charges at least once every year.
![Student Credit Cards 01 The main points you should know about student credit cards. Key Points ,[object Object],Have a brief knowledge about the student credit cards. ,[object Object],Tips on how to guide your teenager from their credit cards and avoid debt. ,[object Object],Guidelines on how to apply for student credit cards for your children. ,[object Object],Tips on how to get a higher credit card limit for a student.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)