3 tips for parents who let their children use credit cards

For many parents, it is a familiar, sinking feeling: Adding your kid as an authorised user to your debit or credit card – and then seeing a surprise purchase pop up on your statement.

If it is any consolation, you are not alone. In fact, 59 per cent of parents in the United States gave a child permission to use their credit or debit card, according to a survey by online lending marketplace LendingTree.