 TITLE: When Should My Child Get a Credit Card? CONTENT: When It's Smart to Get a Credit Card for a Child Under 18\n---------------------------------------------------------\nBefore you imagine the potential pitfalls of an adolescent running amok armed with your credit card account at their disposal, let's take a look at the top five reasons you may want to consider letting your little one start swiping:\n1.  **Credit history**: In general, most minors don't have a credit report or score yet; starting them with one now by adding them to your account can set them up for future financial opportunities. Your responsible credit usage can pave the way for better loan rates, approval for credit cards with generous rewards or even allow them to finance their first car without you cosigning.\n2.  **Safety**: Credit cards offer more consumer protections than you can find with your typical debit card or cash. When it comes to purchase protection or defense against fraud, federal laws and credit card issuer policies make credit cards safer to use online and at the register.\n3.  **Education**: When your kids learn to ride a bike, you can probably expect more skinned knees if they don't have you around to help them steer. Likewise, parental guidance with credit cards can help kids learn to manage credit, minimize the risk of credit damage and ward off bad habits. You can teach them the importance of paying balances on time, keeping credit utilization low and how to spend within their means. It's better that they get an early start learning about credit cards' often-steep annual percentage rates (APR) than learn the hard way how quickly debt and interest charges can build up down the road. Some issuers, like American Express, let you set lower credit limits for authorized users and track their spending so you can really stay on top of your child's charges.\n4.  **Emergencies**: If your child has a cellphone, you've probably found some peace of mind knowing they can contact you in case of an emergency. With a credit card in their pocket, you can feel even more confident they won't get stranded without gas money or not have enough cash for lunch. It's wise to set rules on what exactly constitutes an emergency, and teach them to build their own emergency fund to immediately pay off any surprise expenses.\n5.  **Rewards**: Though not exactly pertinent to your kids' finances, it can be a nice perk to earn extra on a rewards card via their spending. After all, your children are gaining invaluable financial education and credit history—more travel miles or cash back just makes the arrangement more valuable for you too. END