(WSPA) — A new report released this year by financial firm T. Rowe Price finds many parents are giving their young children credit cards.
The firm says nearly one in five (18%) parents of children ages 8-14 say their child has a credit card.
That number has jumped significantly in the past few years. In 2015, 11% of parents with children in the same age group said their children have cards and in 2012, just 4%.
Card issuers do have age limits, meaning most parents are allowing their children to use cards with their names on it or adding them as an authorized user.