Everyone from Dave Ramsey to your neighbor down the street has an opinion about whether teenagers should have credit cards.
But the fact is many already do. According to a TransUnion survey, 19% of teens have a credit card.
If you want to introduce your child to the world of credit while being mindful of its dangers, keep reading.
3 ways your teenager can access credit cards
Thanks to the Credit CARD Act of 2009, getting a credit card at 18, 19, or 20 is no piece of cake. Anyone under 21 must have a cosigner over 21 or their own financial means (savings or income) to open a credit card. The cosigner agrees to repay the debt when the borrower can’t.