It’s a slippery slope. Credit cards, that is. Some people don’t realize that credit is not a magical tree where there is an endless supply of funds. You charge, you pay. And if you don’t pay it off, there’s interest accruing.
We didn’t have a credit card until we were in college, but it seems parents are handing their children credit cards for the school year. And according to WalletHub, dads are three times more likely to be the purveyors of plastic.
Here are some interesting discoveries:
42% of moms think kids should get their first credit card at the age of 21. The same percentage of dads say it should be age 18.
Dads are more likely than moms (65% vs 58%) to think their kids’ education is worth going into debt.
48% of parents say students should be paid for good grades.
Nearly 3X more parents say Walmart is the best place to do back-to-school shopping than Amazon.com.
Plastic’s cool, if one is educated on how to use it responsibly. Doh!