Teens will get credit offers soon after they turn 18. Talking about credit before then helps.
What to explain
- A credit card is a loan you must repay, often with high interest
- Paying in full each month avoids interest
- A credit history affects renting, borrowing and sometimes jobs
- Under federal law, people under 21 generally need independent income or a cosigner for a card
General educational information for parents and caregivers. Bright Buck Club isn't paid by any bank, card company or kids' app.