Question of the Day (Updated): What percent of 8-14 year olds have a credit card?

Aug 24, 2020
Question of the Day, Credit Cards

Answer: 17%

"The idea of a child as young as 8-years-old having so much spending power in their pocket may seem absurd to some. But Stuart Ritter, a certified financial planner at T. Rowe Price, isn’t surprised or alarmed by the survey findings. He says it’s all about knowing your son or daughter and preparing them for the responsibility of having a card, if you believe they’re ready for one."


  • Did you know that you could get a credit card as a child?
  • What do you think "an authorized user on a parent/guardian's account" means? 
  • Do you think it is a good idea for a teen to have a credit card? Why or why not? 
  • What arguments could you make/did you make to your parents to become an authorized user on their account?

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (NBC News):

“How these kids are paying for things is less important than what parents are teaching them about making smart money decisions,” Ritter said. “You need to have a conversation with them about two things: How credit cards actually work and the priorities that drive their spending decisions.” As an authorized user, your child gets a credit card with his or her name on it, but that card is linked to your account, so you are still responsible for everything they charge on it.


Want to learn more about the ins and outs of credit cards? Check out this NGPF Podcast with NerdWallet's Sean McQuay


About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.