By CBS3 Staff
PHILADELPHIA (CBS) — Did you have a credit card when you were a kid? Probably not, but that’s not the case with today’s children. It looks like more parents are trusting their children with plastic at an early age, according to a new report from creditcards.com.
Experts say there are some pros and cons to the trend.
READ MORE: Confounding Error Costs Phillies In 8-4 Loss To BravesUnderage children can’t apply for their own credit cards.
READ MORE: Philadelphia Weather: Severe Storm, Flooding Threat Kicks Off Memorial Day WeekendSo parents add them as authorized users to their accounts — which means kids could make unauthorized purchases and therefore ruin their parents’ credit.
MORE NEWS: South Jersey Elementary School Provides Walkthrough Of Security Measures In Wake Of Texas School ShootingOn the plus side, experts say it gives kids a head start building their credit and learning how to manage their finances.