This particular bank offers the card under the parent’s name and allows them to let the child use it. (Also, it is a debit card which limits what you can spend to what you have loaded onto the card.) Those who received pocket money as a child will also exercise more control over their spending than those who didn’t. The only difference then in giving a child a credit card is that they are spending money electronically. What is interesting is the contrast between the benefits of pocket money for children and the argument about something similar for adults.

Source: The Star April 06, 2021 01:01 UTC