The key to avoiding debt or credit issues in one’s lifetime is knowledge. The more we know about credit, and the potential dangers out there, the better we can set ourselves up for success. And you are never too young to start worrying about credit.
If you want to start your children off on the right foot, when it comes to building credit, consider an authorized user account. By making your child an authorized user on an existing credit card, you can help them establish credit without all the risks that come with having their own card. And you can use this as a way to teach them about how credit works and the benefits and risks of using a credit card.
For more information on authorized user accounts, read the full article here.