Citing a survey result, Greenlight says 84% of teenagers between the ages of 18 and 19 have zero credit history, limiting their opportunities to get their first job, or buy a car and a home.
Additionally, Greenlight’s research suggests that parents want their kids to learn about credit, but don’t have access to tools and resources, while teens are “stressed” about money and want more financial education.
Using the Greenlight Family Cash Card, a credit card which offers up to 3% cashback, Greenlight says parents can add their teenagers as authorised users of the card to start building and managing credit. The card is available with all of Greenlight’s subscription plans, which start at $4.99 a month.
