Give Your Kids the Gift of a Good Credit Score
My son, a tween, asked me for a credit card. I was super suspicious or as he would say “Sus” because he spends a LOT of time online gaming and this is a mine field of scams. Ok, what do you want this credit card for? He said that just wants some independence to know he can make purchases. He has a small savings account with some chore money in it that he wanted to access. I vetoed that, afraid he would quickly run through that on garbage. So I did some research. There are few cards out there for kids that build credit and also act a debit cards. Of course, these charge fees. So what is free? You can add a user to your credit card. They get their own credit card in the mail with their name on it. Their credit starts building from that point based on your spending, usage, and payments. Obviously, you really have to trust your kid to not run up a bill on crazy things. Here were my rules: This is for emergencies This can also be used when you are out with y