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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LendingTree Inc | NASDAQ:TREE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.08 | 0.16% | 49.41 | 48.46 | 50.36 | 51.72 | 48.893 | 51.00 | 238,595 | 21:04:16 |
CHARLOTTE, N.C., March 3, 2022 /PRNewswire/ -- Nearly half of parents (46%) say that they've caught their kids secretly spending with their credit or debit cards without asking, according to a recent survey by LendingTree®, the nation's leading online financial services marketplace. That's up from 29% of parents who said the same in 2018, when a similar survey was conducted. The ease of mobile payments, in-app purchases and one-click ordering can cause even the youngest children to create a dent in a family's financial well-being.
Key findings
"Between in-app purchases and one-click ordering — especially in households where family members share devices and passwords — it's become much easier to use someone's card without permission nowadays," says Matt Schulz, chief credit analyst at LendingTree. "Then, you factor in that many of us have spent far more time than usual inside, staring at screens over the past two years, and it makes sense that kids might have used cards without permission a bit more than before."
Kids and Credit Cards: Quick Tips
Building credit from a young age can be a smart move, as long as the card accounts are handled responsibly. Not every kid under 18 is mature enough to have a card in their name, notes Schulz, but there are some steps that you can take to ease them into the world of credit.
To view the full report, visit: https://www.lendingtree.com/credit-cards/study/kids-and-credit-cards-survey/.
Methodology
LendingTree commissioned Qualtrics to conduct an online survey of 1,051 parents with children younger than 18, fielded Jan. 11-14, 2022. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree
MEDIA CONTACT:
Morgan Lanier
morgan@lendingtreenews.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/46-of-parents-say-their-child-used-their-credit-or-debit-card-without-permission-racking-up-500-301494802.html
SOURCE LendingTree
Copyright 2022 PR Newswire
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