College credit

Using credit and debit cards to educate university-bound children about financial management

30 Aug 2017

College. It's a rite of passage. Importantly, it's a stepping stone to the real world. For parents, seeing a child off to college can be a time of immense pride. But there's also some amount of trepidation. Have we done all we can to prepare our child to be independent and responsible? What if there's an emergency? How will they manage for cash?

Finances can especially weigh heavily on the minds of parents as well as their college-bound children. Making them an authorized user of your credit card can ease the concerns of children's day-to-day financial needs on campus or while traveling on their own. Most importantly your children will have access to cash in case of an emergency. However, many parents worry about giving a credit or debit card to their children. They're simply not sure if they're ready for it.

By taking some astute steps, parents can teach children important financial lessons including how to be independent and responsible. Most credit cards today, offer parents the ability to curtail spending by setting maximum limits on a child's card. You can also set alerts when preset limits are reached. You're not only aware when a child uses the card but also have the ability to view detailed transactions anytime by going online.

Depending on the card, you can also help your children build their credit history by the time they graduate and are ready for their first job. Most cards also offer points for every dollar spent, so you can take advantage of travel rewards and discounts for the many trips children are bound to make during college.

Key facts

Finances can weigh heavily on the minds of parents as well as their college-bound children.

  • Make your child an authorized user of your credit or debit card
  • Teach your children about credit, debit and budgeting and help instill financial prudence during and after college
  • Maintain control by setting and receiving text and e-mail alerts with every transaction
  • Provide access to emergency cash

Should you make your child an authorized user on your UBS credit or debit card? Visit to see the benefits UBS credit and debit cards offer.

Can you be doing more for your college bound children? Together we can find an answer. Connect with your UBS Financial Advisor or find one.