There is no hard and fast rule on when you should introduce your child to the wonderful world of plastic money. Only you know how well your own child will respond to the creative possibilities of buying on credit, but as a rule of thumb, most money experts think you should wait until his or her late teens.
Our oldest daughter applied for her first credit card just before her sophomore year in college. By that point, she had been living on her own for a year and sticking to her budget, so we felt confident that she would handle the new financial obligation with care and seriousness. Read more…
