Survey: Many parents regret letting children use credit cards

Survey: Many parents regret letting children use credit cards

RICHMOND, VA (WWBT) - Of the 52 percent of Americans that let their kids use their plastic for an online purchase, 48 percent say they shouldn’t have.

A new survey from CompareCards shows that dads are far more likely to give up their card, but they’re also three times more likely to regret that choice compared to moms.

Almost one-third of parents say their child has used their card without their permission.

So what can you do about it?

Experts say the best thing is just simple communication. Talk about expectations, boundaries and consequences.

It’s much easier to have that conversation in advance when all is well rather than do it after disaster has already struck. The survey also asked parents what they think is the best age to give your child a credit card of their own.

Parents who responded said the perfect age is 21, when your “kid” isn’t really a “kid” anymore.

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