Vault’s Viewpoint on Debit Cards for Kids vs. Credit Cards for Kids The best prepaid debit cards allow you to monitor your child’s spending, set limits as necessary and link allowance money to ...

By the time they’re a teenager, set them up with a simple bank account. Teach them the difference between a credit and debit card. One study showed 32% of teens don’t know the difference.

Key Points Adding kids to your credit card as authorized users can help them build credit. As they get older, make sure to set ground rules. Teach your kids how to use credit cards wisely so they ...