Teach Your Kids About Credit Cards
Inform About Pros and Cons
Having to manage one's own finances is never easy. On having a credit card in hand, the kid shouldn't rely on credit cards for everything and anything. Before you get the credit card, be sure your teen understands the pros and cons of a credit card. Discuss late payments, interest, and the impact of credit reports. In addition, teach your teen that future housing, insurance premiums, and job offers may benefit from an established credit history.
