Credit Cards And Kids: Should You Let Your High Schooler Have A Credit Card?
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Your 16-year-old wants a credit card for essential shopping trips and school excursions. That way, she explains ever so reasonably, she doesn’t have to carry wads of cash or drag you along to the mall, and she’s covered in case of an emergency.

Meanwhile, you envision wild spending sprees and whopping credit card bills. Should parents ever add teens as secondary card holders to their accounts? The answer depends on a variety of factors, and there is no correct answer for everyone. Here’s what you should consider:

Financial experience before credit card

Children who have handled a savings account, earned money from household chores or a part-time job, and saved money for special purchases are better prepared for handling financial responsibility than those who haven’t had any experience with making and saving money. Make sure your child is grounded in some basic money know-how before handing over a credit card. Have you taught your child about interest rates and how credit cards work?

Your kid’s maturity

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