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Released: November 20, 2012
When, and how, to give your teen a credit card
Source: Scott J. Wilson, L.A.Times (Free Registration)
Is your teenager ready for a credit card? If so, how can you keep the spending from spiraling out of control? Some advice from the National Foundation for Credit Counseling: • Consider giving your child a credit card linked to yours. "Not only will your teen inherit your good credit rating, but it will also allow you to see how much they are spending," the foundation said. A good plan is to tell teens at first to use the card only for emergencies. If they show they can handle that limitation, allow spending that they can fully pay off with the first bill.Read Full Article: When, and how, to give your teen a credit card
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