Credit Card Offers for Teens
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Every day, I throw out “invitations” addressed to my son. I’m not antisocial, just practical. He can’t possibly manage all the savings attached to them. These kind “invitations” are from credit card companies offering “freedom, flexibility and exceptional levels of customer service.”
Admittedly, I am jealous. When I was his age, no one invited me to “share the rewards.” I worked two jobs and took the bus. Yep, public transportation. I even asked for a transfer, which entitled me to two rides for the price of one. I’m not complaining; most of us functioned on a pay-as-you-go basis. We didn’t receive letters offering us “peace of mind” even though we were the “Give-peace-a-chance” generation.
For one month, I saved all the offers my son shouldn’t refuse. Instead of shredding the credit card applications, I collected them on the dining room table. At the end of the month I had 35 pieces of mail and, with my son’s permission, opened each one.
I was giddy to know how many financial institutions wanted my unemployed son, and I pray that this interest translates to future job offers. American Express wrote to him several times. The first offer waived the annual fee – a $125 savings. They also offered “choice seats at select events” – an appealing perk for a teen seeking to impress. Their next letter offered savings on car rentals – even though he’s not old enough to rent a car. They again offered to waive the annual fee– now $150.
By the fourth letter, American Express ramped up its offer to join their “Blue Sky” with unlimited travel choices and zero travel restrictions. “See the world the way it was meant to be seen – free.” This generous offer was based on my son’s “exceptional financial responsibility,” (Obviously, they hadn’t spoken to me) and he was encouraged to get rewards “even faster” by sharing the benefits of Blue with someone at least 15 years old.
The Discover Card offered “No worries,” followed by pre-approval for the Discover More card. Maybe next week he’ll get an offer for the Discover Even More card. Capital One VISA offered the “power of platinum” with design choices to personalize his card and a response in “as little as 60 seconds.”
The next batch of invitations came from Chase. Chase VISA Platinum wanted him to get his card “as quickly as possible” by visiting “sendmethecard.com.” After mailing him five invitations to get the Freedom “Visa Signature Card,” they sent him a letter pre-approving him for the Chase Freedom “World MasterCard.”
Chase Continental OnePass was the next company to extend multiple offers. Their oversized envelopes were imprinted with the words “eligibility notification update” and “Do not discard.” Due to his “current status” with Continental Airlines, they wanted to reward him “with one of the most generous offers available to frequent flyers” –Continental Airlines World MasterCard.
WaMu wrote to offer special cardholder discounts to popular restaurants and retailers, quick sign up at getmyvisa.com and free online access to his FICO credit score – which he’ll need if he uses credit cards since he has no income.
The last letter came from Education Finance Partners. They wanted him to get the money he needed for all his college expenses in three easy steps. All he had to do was to 1) complete the application, 2) sign the loan documents, and 3) get the money he needed “in as little as a week.”
Next month, I plan to save the letters offering to refinance our home.
By Margaret Simon
When I was a teenager, my dad opened a credit card for me in my name. It was for emergency use only, and then later when I went to college I was allowed to use it for books at the campus bookstore. So the card got used a bit, and my dad managed the payments. Naturally, if there was anything other than stuff he approved beforehand, I had to give him the money. It was actually really great for him to do this because after college when I went out on my own, I already had an established, positive credit history. I learned the importance of this early on, and still reap the benefits of it today.