Best Credit Cards for Kids: Building Credit & Money Habits
What to Do Before Getting Debit Cards or Credit Cards for Kids
Take these things into consideration before opening a debit card for your child:
The best debit cards for kids should not have fees associated with their online portals to review the child’s spending or educational tools that manage money.
One of the best cards for your child to use is one backed by a major credit card network. Companies like Amex, Mastercard, Visa, or Discover. This means your child can use the card as a debit or credit when needed.
Major card networks
An online account that not only lets you see where cash flows and when it changes hands, but also lets you monitor your child’s spending habits is a smart investment for both security purposes and to teach them strong money management skills.
To start, you may want to consider a prepaid debit card. You can also tie a new card to your existing accounts as another authorized user. The new card will access those accounts as your child spends.
There are various ways to load money onto a debit card for kids. For example, you could purchase convertible credit cards for kids and put the money that they want onto it.
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