Everything You Need To Know About Teaching Kids About Credit Cards | Teach Kids Money TV

Should you be adding your child as an authorized user on your credit card?🤔

This video dives into pros & cons of adding kids as authorized credit card users.

Here is the timeline of our discussion in case you would like to skip to a particular topic. 👇

0:00 Introduction
1:50 Risks of credit cards
3:30 Introducing kids to credit cards
4:14 Adding kids as authorized credit card users
4:40 US credit card benefits
6:19 Canadian credit card benefits
7:50 Setting credit limits
9:25 Teaching kids how credit cards work
9:57 Credit card rewards
10:25 Disadvantage of adding kids as authorized users
11:28 Right age for adding kids as authorized users
13:20 Purchase guidelines for kids
14:11 Parental approval for purchases
14:51 Additional considerations
17:35 Social security numbers vs. names for kids' cards
20:40 Niece and nephews as authorized users

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