Credit Cards for Kids' Financial Responsibility

This is a news story, published by Upworthy, that relates primarily to CreditCards.com news.

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Business

Business & Economics

Teaching financial responsibility: the smart case for giving your child a credit card

Summary

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69% Informative

Six million American parents have at least one minor child with a credit card, according to a 2019 CreditCards.com poll.

Debit cards offer a more flexible yet tangible way for children to understand how to manage money.

Early financial education is essential for navigating today 's digital economy.

With debit cards, kids are limited to the amount of money available in the account.

There are even modern debit cards specifically designed for kids, such as Greenlight , which offers a range of features that make parents and children feel secure and in control.

Of course, the main drawback of debit cards is that they don’t help establish or build a credit history.

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informal

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English

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