If you’re a parent of a teen, this title may sound scary. But credit, especially credit
cards, are everywhere in our society - and they’re not hard to get. If you want your
teen to make financially smart decisions when they go off to college, teach them
about how to properly use a credit card before they leave home.
What should you tell them?
Talk about the long-term consequences credit cards can have if used
poorly. Don’t just talk about the bad stuff, but also include some of the good things credit cards have
to offer. For example, they will help your credit score rise when used appropriately and they can also
be good to have in case of an emergency. Show them how to pay the full credit card balance each
month and how long it would take to pay in full if they only paid the minimum payment.
SHOW THEM HOW EASY IT IS TO MAKE A PAYMENT
Explain to your teen that there is no finance charge as long as they pay
the balance in full by the due date. Show them how to make a payment
online by logging in to It’sMe247 online banking and transferring money
from checking to their credit card in one simple step.
A SAFER ONLINE PAYMENT METHOD
If your teen plans to make purchases online, a credit card
is a much safer alternative to a debit card.
