So in this day of kids growing up too fast and the way the world is becoming more dependent on credit, some parent are looking for answers. In our day it took a long time to get a credit card and even one where you could even buy anything worth while. Mostly it is just low balances and a good year of buying and paying it off to get a decent balance. Not these days. My daughter, who is thirteen, just got a card application in the mail. This raises the question of when do I start building their credit and how.

There are a couple of solutions to this dilemma. The first thought I had was to add them onto my card. That way I can monitor their spending and make sure everything gets paid. The second thought I had was to give them a card of their own with a very low credit limit. This would allow for the credit history to build, but it then comes down to how mature the child is given the responsibility.

The end result that I chose for my daughter was to do the card with a low limit. This way I still see the bills and the card is in their name. So we will see if this works out and helps my kids down the road.