In observance of Thanksgiving, all Island Federal branches will be closed on Thursday, November 24, 2022
Teen Counting Money

At what age can you get a debit card? While at one time most people didn’t get their first debit card until adulthood, today, there are cards specifically designed for minors. If you’re interested in a debit card for your teen or tween, now’s the perfect time to learn more about these cards and how they work.

Of course, you’ll need to be confident that your teen is mature enough to handle the responsibilities of managing a debit card in their own name. But that’s one of the great things about teen debit cards – you’ll be there to help them navigate their newfound freedom (and the responsibility that comes with it). 

What is a Debit Card for Teens?

A teenager debit card functions virtually exactly the same way a debit card for adults does. It’s a card linked to a bank account that can be used to make electronic purchases. The key difference between teen and adult debit cards is that the cards for teens allow parents to control and monitor spending, balances, and where money is spent. 

Once a teen has a debit card in their name, they can use it to make online and in-person purchases for gas, food, groceries, self-care products, entertainment, or anything else anywhere debit cards are accepted. 

How Old Do You Have to Be to Get a Debit Card?

At what age can you get debit cards? The minimum age for a debit card may vary, but these cards are typically available to children that are 10 or older. In order to obtain a debit card, a parent or guardian must open a joint account with their child.

Teen Debit Card Features to Consider

Debit cards can be a fantastic way to teach teens healthy financial habits. In addition to looking at debit card age requirements, you’ll want to look for these features when you choose a card for your teen. 

  • No monthly fees: It’s important to look at costs before you get your teen a debit card.  Ideally, the card shouldn’t have any monthly fees or minimums. 
  • Cash-back checking: Some debit cards will let your teen earn money when they spend. Cash-back benefits can offer cash back and other rewards, like gift cards. 
  • Easy monitoring: It should be simple for both you and your teen to monitor their bank account. You may want to look for a card with a mobile app so that you can track spending on the go.
  • Card protection features: The right debit card will help you keep your teen’s finances secure. Look for cards that allow you to set monthly spending limits or turn the card on and off. 

Benefits of a Teen Debit Card

Your teen won’t be a teen forever. Getting a debit card can be fun, but it can also be a way to prepare your teen for the future. These are a few of the ways the Island Federal Debit Mastercard for Teens can benefit both you and your teen. 

1: It can teach your teen money management skills 

If your teen has expressed interest or asked you things like “what age can you get a debit card?,” now may be the perfect time to start teaching them about financial responsibility. Many people struggle to manage their finances when they reach adulthood. When you give your teen a debit card, you’re giving them a chance to learn healthy financial habits.

2: You’ll get access to card perks 

Having a debit card means your teen might have access to lucrative card perks. Many teen debit cards, like the Island Federal Debit Mastercard for teens, allow you to earn cash back rewards. Getting rewards can be fun for teens, and it’s a great way for them to learn to stretch their allowance or those first-job earning’s a little bit further.

3: You can keep track of your teen’s spending 

Most teens have a lot to learn about saving and spending. But when your teen has a debit card, you can monitor their spending and see where their money is going. If your teen is making irresponsible purchases, you’ll be able to address their behavior immediately, before the stakes are really high. 

Not only can a debit card give your teen financial independence, but it gives you the opportunity to set and model what healthy limits look like when it comes to spending habits. Island Federal’s teen debit card lets you set a budget for your teen. It also allows you to decide where the card can (or can’t!) be used.

4: It can make your teen more responsible 

Children depend on their parents for their wants and needs. With a debit card, you can transfer some of that responsibility over to your teen. While you’ll still be able to track your child’s purchases, your teen can start learning to be accountable for their own money. 

With a debit card, your teen will get a taste of what it’s like to manage money as an adult. They’ll be able to see where their money is going and see how small purchases can add up. Over time, teens can learn to set a budget, save for a rainy day, and use their money wisely. 

Open a Teen Checking Account Today

If your teen has been asking questions like “How old do you have to be to get a debit card?” it might be the right time to open an account. Youth Savings accounts are also great options for tweens and younger children. 

Open an account online or reach out to Island Federal if your teen is ready for their first debit card!