Nearly one in five (18%) parents of children ages 8-14 says that their child has one of these; what is it?
The answer: Credit Card
Nearly one in 10 parents (8%) with kids under 18 say that at least one of those children has a credit card, according to a CreditCards.com report released yesterday. And other data shows those numbers could be even higher: According to a survey released in 2017 from financial firm T. Rowe Price, nearly one in five (18%) parents of children ages 8-14says that their child has a credit card. That’s 13% of 8- to 9-year-olds; 18% of 10- to 12- year-olds and 19% of 13- to 14-year-olds do, the data shows. Other parents lend their kids the card: More than half of Americans with kids under 18 have let their kids borrow their credit or debit card to buy something online, according to research released in 2018 by CompareCards.com. Nearly half (48%) of them regret doing it.