What are the Best Credit Cards for Kids?

Credit cards are a powerful tool for building credit and teaching kids about money. But with all the worries of credit and the responsibility that comes with it, diving straight into credit cards for kids can present a lot of stress. After all, abusing credit can quickly dig a deep hole for yourself.

What is a Credit Card for Kids?

Why would you give a minor a credit card? Having a credit card for kids may assist them by developing healthy money habits from an early age, allowing these financial literacy skills to compound from the start.

How Old Do You Need to Be to Have a Credit Card in Your Name?

As a minor, you don’t meet the eligibility requirements to receive a credit card under your own name. Once you reach the age of majority (18 in most states), you still face a hurdle to obtain a card by yourself.

Best Credit Cards for Kids and Teens

Though, instead of credit cards for kids, start them off with debit cards for kids and teens that withdraw money directly from the prepaid card balance or from the associated bank account.

What are the Best Debit Cards for Kids and Teens?

We’ve compiled a list of the best debit cards for kids and teens that should work for your needs below. Look at each and compare which one makes the most sense for your needs.

1. Best Rated Overall: Greenlight

Greenlight provides parents control over where their kids can spend money by limiting the stores where their cards work. Parents can get alerts when money is spent on the Greenlight debit card for kids and for how much.

2. Best Free Debit Card for Teens: Axos Bank First Checking

The account works as a joint account between a parent or guardian and their teen, allowing for easy-to-set, customizable parental controls with a debit card dashboard.

3. Chase First Banking: Best Free Debit Card for Kids and Teens

Teach your kids to spend, save and earn with Chase First Banking. The account helps parents teach teens and kids about money by giving parents the control they want and kids the freedom they need to learn.

Swipe up TO KNOW MORE ABOUT THE What are the Best Credit Cards for Kids?