The importance of helping your children build credit

Every father wants to prepare his child for a future and comfortable life. If he still needs to provide his children with his property, the children may get into debt if he teaches them how to get money easily. From buying a car to their first home, kids need to know how to get and use credit. The best way to do this is by giving them a child credit card.

There are a few things to consider before giving your child a credit card. One of the most critical factors is the age of your child. You wouldn’t want to give a small child a credit card, but a teenager could benefit from having one.

Another factor is whether or not your child has any income. If they have no income, they may not be able to take responsibility for paying their monthly debts. It would be better if you just gave them a credit limit that they can realistically handle.

It is also important to consider the type of credit card you will give them. There are secured and unsecured credit cards for children. A secured credit card requires a deposit, which acts as collateral if your child doesn’t pay the bill. This is a good option if you are concerned about your child’s ability to manage credit.

An unsecured credit card does not require a deposit, but has a higher interest rate. This is because there is a higher risk for the lender. The lender could lose money if your child doesn’t make payments on time.

Credit cards for childrenthey offer the possibility to invest, save, earn and donate money within the application. Everything is somewhat reminiscent of the world of adults, but in this case, parents have their children’s backs and cannot go into the red.

There are several ways that your children can learn to be socially aware and balanced with their use of money.

Money Does Not Come From Magic Boxes (ATMs)

You have to explain to children how the world works and that parents have obligations to fulfill to allow them a day to day. 

And that there is a difference between what is most necessary to spend money on, such as rent, bills, food and drink, clothes and shoes. This does not come from the magic trees but from the parents’ effort and hard work.

Other expenses include eating at a restaurant, buying a new toy, or going to the movies. Children should know that this expense is not considered essential and that it is not always possible to do so.

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Cards as a tool for learning financial education

What prepaid debit cards offer is the ability for parents to open an account for their children over which they have full control. Children have chores and responsibilities that they must complete within a set time limit. 

Each task table can be individually tailored to each family. Children can learn through this card how to save money, invest in stocks, donate money and earn through various bonuses and payouts. 

Parents can establish prohibitions on companies, brands and sites that they consider unsuitable for their children.

Savings and Put It On Payroll

Encourage your children to save, teachales to be patient and wait for a certain moment. 

Older kids always need more money, so why not use this app to put your kids on the payroll to pay them extra bonuses, pocket money, and third party payments? 

Encourage small business owners to help their neighbors, mow the lawn, take out the trash, go shopping, etc. The children sell lemonade in summer and in winter they clean the neighborhood and collect it with their owl friends. 

BusyKid’s innovation, for example, is that a third party can deposit money into the account with a QR code, which is the perfect way to send a gift for birthdays, holidays and other occasions.

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Busy child

BusyKid is one of the leaders in this industry and has won numerous awards. They offer more than a job application and assignment. They offer a savings plan, the ability to invest in global stocks, make and receive payments, and charitable donations.

Thanks to BusyPay, it offers the option of bonus payments, third party payments with a QR code, pocket money payments and donations to various charities. 

Parents control the child’s account and create particular tabs with tasks the child wants to complete. 

There is no minimum age for this option. With the option of 5 cards for $3.99 per month, the annual price is $38.99, where you will save 20% of your money. 

It is one of the first choices of parents and has ensured the financial independence of many children and has prepared them for the future.


GoHenry is also a prepaid debit card for users ages 6-18. This is a slightly more expensive option; the price per child is $3.99 per month. 

The application is designed to monitor the performance of tasks and obligations within the given time limit and to maintain the limit of how much the child can spend on the account. 

Kids can spend, save and donate within a dedicated club within this app. Here is a method of locking savings, not the ability to access the money.


Copper debit cards are one of the newer on the market, but they are slowly rising towards the top. The age limit is from 13 to 19 years old, and it is totally free. It is one of the most downloaded apps of recent times.

This is one of the reasons why its demand has increased because it is available to everyone. Here you sign up for a digital account, you can monitor your activity in real time and send and receive money between linked accounts.

You can use it to shop online and in stores and get cash at ATMs. There is a spending limit set by the parent and they have control over the account. 


In summary, these are just some of the advantages that parents have when giving their children a credit card. It is important to consider all factors before making a decision. Give your teen a credit limit they can realistically manage, and make sure they understand the responsibility of using a credit card. With the right guidance, your child can learn to use the crédito responsibly and develop good financial habits that will last a lifetime.

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PostingThe importance of helping your children build creditfirst appeared inLove Happens Magazine.