BALTIMORE—The number of kids waiting to get their first credit card until they graduate high school is declining, with a new report suggesting one of the fastest growing segment of cardholders is 8-to-14-year-olds.
The 2019 Parents, Kids, and Money Survey from T. Rowe Price shows credit card use has skyrocketed among this segment over the past seven years, from 4% in 2012 to 17% today.
“That's almost as high as the percentage of kids with checking accounts (19%),” noted CBN News.