Sunday 06 Feb 2011 

It’s amazing how often we blindly hand over our credit cards and numbers to so many people and businesses. Why? We trust them! The problem is, however, that sometimes we’d be better off holding back and taking a more discretionary approach. Certain individuals and companies should be off limits. To keep safeguard your credit, avoid giving the following folks unlimited access to your account.

Your darling child. Whether you have a PC, smart phone or iPad, chances are high that your kid has become quite the gaming pro. She begs for your password and soon your bill swells. It happens, and the damage can be extreme.

 

In January 2011, a 7-year old in British Columbia was on an iPod and found an app called Touch Pets – Dogs 2. An hour’s worth of play ran up $852, which was charged to the credit card her parents had on file with iTunes. “Trust can’t come without education and maturity,” says Jan Ruskin, spokeswoman for Creative Wealth International, a financial literacy product company. And clearly a child can’t be expected to read and understand fine print.

 

–Source: CNMoney