The average household has more than $137,000 in debt, and a chunk of that comes from credit cards.

So handing your child a credit card might sound a bit ridiculous, but it has its pros. reported, 1 in 5 parents say they've given a credit card to their kids between 8 and 14 years old.


It can build up their credit and teach them how to be responsible with money.

The website stated that one mom signed up for email alerts each time her son used the card. His spending habits forced her to have a conversation about money. She then set boundaries on how much he could spend and what he could spend it on.

If they're old enough to have a job, it gets them thinking about income. At the end of the month, your child will need to have enough money to cover the bill.


You as the parent are ultimately responsible for making sure the bill gets paid.

Until they're 18 they're just a cardholder on your account. If you don't pay off the bill, you could hurt your credit score and theirs.

If they lose the card, it could get into the wrong hands.


If you give your child a credit card, it's important to check their credit report to make sure no one's opened a line of credit in their name.

Each bureau lets you check it for free once a year.