College Parents of America has an idea that can help. They're offering two types of credit cards that help parents teach their children about using and building good credit. One card is pre-paid. Parents set the limit and control spending. The other is a regular credit account but with a saftey net.
Daily use is posted on-line, so parents can monitor spending activity and step in if necessary.
College Parents of America also offers a booklet to help educate young people about using credit. It explains things like interest and the consequences of making only minimum payments. Copyright 2000 by TheBostonChannel. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.