Lloyds TSB gives Visa cards to 11-year-olds

Lloyds TSB gives Visa cards to 11-year-olds

www.telegraph.co.uk

A leading bank is giving children as young as 11 debit cards without informing their parents, it has emerged.

Lloyds TSB is sending the cards directly to children raising fears that they are being used to buy cigarettes, alcohol and pornography over the internet.

The cards are Visa-enabled and can be used any time a Visa sign is displayed.

The bank receives a fee from the retailer every time a card is used. In the past, children aged 11 to 15 with current accounts could only have debit cards that could be used only in cash machines or at bank branches.

(visit the link for the full news article)

Oh come on... for pity's sake.

Have the banks really run out of cash that they've got to get the children involved deeper and deeper into the insanity that the bankers have pushed onto us over the years?

Has this particular bank heard of the comments that were made by Fortis
www.abovetopsecret.com...

Have the UK banks lost their marbles?
Teens of that age with a visa card and internet access... What money grabbing, fat and greedy cat thought of this little stunt.

Is this some secret ploy to spread another load of debt around just before all the banks go under so the insurance claim can be quadrupled?

I am appalled.

www.telegraph.co.uk
(visit the link for the full news article)

Im not going to lie, my son has a card just like this so he can shop online my ex and I are vary careful to monitor what sites he visits. The card teaches him to be responsible with his money, and thus far it has worked well. But I am sure a 10 year old boy is not concerned with sex as of yet so I am in the clear right now I hope lol.

Originally posted by Extralien

Have the UK banks lost their marbles?
Teens of that age with a visa card and internet access... What money grabbing, fat and greedy cat thought of this little stunt.

Is this some secret ploy to spread another load of debt around just before all the banks go under so the insurance claim can be quadrupled?

I am appalled.

I couldn't agree with you more.

If ever there was an age group that should not have credit cards, it the pre-teens for God's sake!!

It's all about the profits, just like you said.

Absolutely sick and maddening!

A leading bank is giving children as young as 11 debit cards without informing their parents, it has emerged.

they are debit cards not credit cards.

there is a diffrance No preteen should have a credit card ever!

reply to post by SPC_D


My granddaughter received a pre-authorized card when she was only 3.

But that was a few years ago - back when they were stuffing mail boxes with them.

Um yay? Hopefully this will drive the big V even higher.

reply to post by SPC_D


They call it a debit card, but it is Visa enabled. A true debit card is the 'switch' variety..or solo..or whatever it was they were called. I've not been in the UK for several years now, so hope my memory stands the test of time.

And as stated in the report, it's not just online web sites that people are worried about..it's alcohol, tobacco.. heck, jump on a ferry and go buy some bangers in France or a few flick knives.

Or you could just jump on the train, head to Soho in London and do as you please I suppose.

And how many of the 'teens' are gonna be in an online chat room, chatting up a girl/boy and start splashing the cash (plastic) on inta-flora or other 'to-the-door' gifts and pleasures?

How many of these kids are gonna have bailiffs knocking on the door to seize the home and imprison the parents?

reply to post by doctormcauley


Get out of here with that! That is insane at 3 years old? Now how can this be surely they know who they are sending these cards to right? a 3 year old cant sign a legally binding contract so how do the banks intend to hold them to there debt? Or any one under the age of 18 for that matter.

I can't see the advantages of allowing a child to buy anything online. I guess it might keep them safe by not wandering around the shops. But back in my day (I'm 23 ) I'd only ever either save pocket money to buy something I really wanted or spend it on lollies and junk.

Visa would gladly offer these kids debit cards. Sure they're not credit cards, but it's always a good idea to introduce the upcoming consumer generation to get used to the idea of buying something with plastic. Generation X and gen Y are already so debt-laden and are a wasted cause for marketing, why not market to the tweens!

I let my son get things online because he can't get out allot because his immune system is way week so instead of subjecting him to possible infections and sickness I have him shop on line for his legos and what not. He looks forward to getting boxes it is fun for him. But that is why I got him an account with a debit card so there you have it. If the boy was not sick like he is I would not have gotten him one.

reply to post by SPC_D


Remember about five years ago during the housing boom when credit was abundant?

Well credit cards were a staple of junk mail, especially in the poorer areas (of all places) and with the college students.

Usury, plain and simple.

reply to post by doctormcauley


Indeed I got one like every day lol yet none of my children got any. Still thou I mean come on now they need a regulation on who should resave an application.

reply to post by SPC_D


One of the first things Bush did was deregulate the industry.

Same thing happened when Martin took over in Canada.

[edit on 30-6-2008 by doctormcauley]

reply to post by SPC_D


Ahh no problem, that's a perfectly good idea

It wasn't aimed to you, but kids in general. Best of luck with your son.

reply to post by Extralien


Some people aught to read up on things properly. Just because it is VISA enabled, doesn't mean it is a credit card. Just means you can use it wherever the VISA sign is seen. VISA is just a system to enable the processing of payments, not an indication of credit.

I have a Solo/Maestro debit card and for many sites on the web, it is useless as they don't accept Maestro.

Now, my friend has a VISA debit card and can pay for his online registrations for games and the like, whereas I have to use my actual credit card.

His VISA debit card takes money out of his current account. If he doesn't have it, he cannot spend it.

Honestly, this world is far to full of people with opinions about stuff they obviously know nothing about.

This story is a non-issue as the kids cannot spend money the don't have. In the UK, you need to be 18 to obtain credit otherwise it is highly illegal.

[edit on 30/6/08 by stumason]

Originally posted by SPC_D

so how do the banks intend to hold them to there debt? Or any one under the age of 18 for that matter.

You've hit the nail on the head there.

These banks are sending out these cards without the parents knowledge. The banks aresupposedly informing these teens to make their parents aware of what it is they've got.

How can the banks get away with supplying Visa capable cards to under 18's.

I'm glad someone finally picked up on that, albeit slightly subliminally.

[edit on 30-6-2008 by Extralien]

reply to post by mattguy404


Please don’t misconstrue what it is that I was saying I was just giving a reason why I gave my son a debit card that’s all. Believe me I felt no attack from you, I am sorry if I had made it seam that way.

reply to post by stumason


Thank you Stu, for pointing that out to me and to others who may make the same mistake.

I stand corrected on any assumptions I seem to have made. It may have been the sensational reporting of this issue that the MSM has decided to give the issue that got me slightly confused there, especially in combination with everything else that's going on.

None the less, this does seem to be another tactic to get people involved with eventual debt and spending money. I still think it's not a good thing to do. The majority haven't left school yet.

I was working part time at the age of fifteen to earn some cash for myself. just as many others have done.
I had a paper round at 13.. so what's stopping the kids of today doing the same thing..oh yeah, parents giving higher rates of pocket money and kids with bank accounts and visa enabled debit cards

In the UK we have not left the insanity of political correctness behind and we have an absoloute madwoman in a position of power called Harriet Harman, who is just about the most extreme purveyor of "equality" you could find

She is proposing a new law which would sanction discrimination in the workplace based on gender, age, sex, race etc (that is the blurb, she has admitted it is primarly aimed at discrminating against males, specifically those of a white variety).

Under such extremists, we will soon not be able to prevent kids from the same invented "rights" as adults, in pursuit of the modern debased notion of "equality"