Letting Your Children Borrow Your Credit Cards
Is it a Good Idea to Let Your Children Borrow Your Credit Cards?
If you have teenagers, you’ve probably been tempted at one time or another to give them temporary access to one of your credit cards. But is it really a good idea to let your kids run around town with your credit cards in their wallets? Is this increasingly common trend a good idea or a big mistake?
Is Everyone Really Doing It?
Your daughter needs some supplies for school and she’s old enough to drive, the problem is, you need to pay for the supplies. Why not just give her one of your credit cards? After all, according to her, everyone’s doing it. The problem is, is your child really mature enough to handle the responsibility of one of your credit cards in his or her pocket?
Be Careful
If you do decide to give your child one of your credit cards to use, make sure that you give them a credit card with a very low spending limit. Make sure that your child also knows that showing the credit card to friends or letting others hang on to the card for them is not acceptable. Credit cards are a big responsibility so you want to make sure that your child understands the magnitude of the privilege.