Finance

Children are secretly using their parents’ credit cards to rack up major charges

Answer is to teach children how to use credit responsibly, expert says

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Nearly half of parents say that they have caught their minor children secretly using their debit card or credit card without obtaining their permission at least once. Not only that, but they each racked up an average of more than $500 in charges in doing so, according to a new survey by online financial services marketplace LendingTree.

The number of parents reporting this behavior has jumped almost 60% over the past four years since a similar poll was conducted, reports LendingTree. The recent survey included more than a thousand parents who have children younger than 18.

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