re: Adding children to a credit card account

quote:

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My parents are big if you don't have cash you don't need it people. They just got credit cards in the last year when I explained to them how rewards work

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My parents were the same.

In addition, they are close to retirement and I have been working on them for years they shouldn't have months and months of cash in their banking accounts at current rates. Invest it, or put it in intermediate term bonds at least. With a solid investment income stream, and good LOCs to cover emergency blips until you cut a check to pay it off, you really don't need more than a month or so in the checking account at a time.

Luckily the investment adviser they hired agreed with I've been telling them and they started to draw down that balance.