Greensboro, NC -- A lot of parents help their children get a credit card to help them build their own credit. They can ruin their own if they don't keep a close eye on their kids. Johnny Vineyard with Family Service of the Piedmont's Consumer Credit Counseling has seen it happen.
Vineyard says wait until your child is ready for a credit card, and make sure he or she understands how it works. He suggests starting your child with a card with a very low limit or even a prepaid card.
He says parents need to keep tabs on their children, making sure they make the payments and make them on time.
If your child gets into trouble and can't pay the bill or forgets to pay the bill, Vineyard says it's important to address it fast. Call the credit card company and work out a plan to lower your child's credit limit and pay the balance.
If your child's credit starts to affect your own credit, Vineyard says it's time to talk to a credit counselor. In Greensboro, you can reach Consumer Credit Counseling, a Division of Family Service of the Piedmont at 336-373-8882.
WFMY News 2