It’s pretty upsetting when you find out someone has somehow gotten ahold of your credit card and racked up unauthorized charges. Now, imagine how you’d feel if that someone was your kid. Well, apparently a lot parents don’t have to imagine it at all.
A new LendingTree survey finds:
- 46% of parents say they’ve caught their kids making purchases with their credit or debit cards without their okay.
- Kids who have used their parents' cards without permission have spent, on average $500.
- The highest amount charged without permission was $524.
- The most common unauthorized expenses include:
- On-app or in-game purchases (28%)
- Ordering food delivery (16%)
- Purchases made through voice-activated speakers (15%)
- Purchase through streaming service (15%)
- Bought clothes (14%)
- Bought toys or games (13%)
- 60% of parents with kids under 18 have let their kids use their credit or debit card.
- And almost half, 48%, have regretted it.
- Fathers are more likely than mothers to let their kids use their credit card.
- Fathers are also more likely to regret that decision.