Apacs, the UK payments association, has released 2 guides discussing payment card options for teenagers and ‘young adults’.
According to Apacs, 86% of 18-24 year olds carry some sort of plastic in their wallets, and these guides aim to help them make the right decision when choosing payment cards. And given that 16-17 year olds spent £255million online last year, there is also advice on avoiding online card fraud.
The guides, which can be downloaded from their website, are aimed at both the younger generations and their parents:
Young people are spending ever-increasing amounts of money and it is therefore vital that they make a considered decision before choosing which product they use. The guide for under 18s provides straightforward advice for young people thinking about getting their first plastic card. We’re also releasing a guide for parents, as parents are in the best position to educate young people on how to use plastic cards. It is important that they are aware of the different options available, and how to keep their children safe from fraud. Being able to manage their personal finances is one of the most important life skills a young person can acquire, and these guides give both young people and their parents a useful introduction to some of the issues that they will face.