Getting a debit card is a dream for many kids as young as 6 years old. They often ask their parents when they can get a debit card. How old do you have to be to get a debit card?

Some banks allow you to open a debit card for kids when they are only 6 years old. Other banks require kids to be teenagers and require you to be at least 13 years old. In all cases parents have to have an account at the bank and a child should have an SSN.

For example, Chase bank has a Debit Card for Kids and Teens that is called “Chase First Banking”. Chase charges no monthly or annual fee if you are older than 6 and up to 17. In addition Chase has teen savings account. The debit card gives you access to Chase ATMs, so you can withdraw cash as needed.

Capital One in its turn has a fee-free MONEY Teen Checking account. Kids age 6 to 17 can get the debit card that allows them to make purchases. Additionally, kids can have a savings account with high interest. The debit card looks exactly like the one that adults have.

Fidelity also offers checking and brokerage accounts for teenagers above 13 years old.

Copper debit card requires kids to be at least 13 years old, but it has no monthly fees. It also allows kids to deposit cash at retail locations, but it can cost up to $5.

Other debit cards for kids often have an annual or monthly fee. Greenlight, for example, has a minimum $5 monthly fee and if you want more features and benefits you can pay $10. In my opinion it is a great opportunity to teach kids to calculate net benefits. Paying even $5 out of your own money every month may not be as attractive for savvy kids.

On the other hand credit cards for kids don’t exist. So you can apply for a secured credit card only when you are 18 years old. Parents, however, can add their adult kids as authorized users to a credit card that they already have. This way kids will inherit the credit history of their parents and should have higher chances of being approved for a better credit card.