Aug 8, 2023
New: Teens build credit before 18 with Greenlight’s Family Cash Card
Picture this: you’re catching up with your recent college grad, on their patio — in their first apartment. They’re telling you all about their new project at work, and you look out at the new car they purchased on their own, parked outside. They financed it, at a competitive market rate. You celebrate their hard work and they share their gratitude with you — because you made it possible, by helping them build credit as a teen. And it made a difference in their life.
Starting today, your teens can build credit before 18, while your family earns up to 3% cash back¹ on purchases with Greenlight’s credit card. Building good credit may unlock a world of opportunities for your family, from better interest rates to lower monthly payments and ultimately, more money for your teen’s future². Let’s dig in.
Teens build credit — and learn to manage it responsibly
Just like budgeting and setting savings goals, Greenlight teens can learn how to manage credit responsibly — and build credit confidence for life. They can track their spending and remaining balance, so they know where they stand at all times.
Plus, they’ll learn about credit with Level Up™, our game-changing money game. Bite-sized challenges take them beyond K-12 national standards for personal financial education. They’ll learn, play, and level up on credit confidence.
Building credit fundamentals early on may make for an easier application for their first job. And when they land it — and you know they will — their steady paycheck may unlock the door to their dream car and eventually, their first home. All on their own.
Parents have flexible controls
While your teen hones their credit skills, use Greenlight’s flexible controls to keep their balances in check. Set monthly spending limits, receive real-time purchase alerts, and track balances in the app.
Lost card? You can protect their identity and credit by using the Greenlight app to turn their card off in an instant. And when it turns up in the sock drawer (whew), turn it back on in one tap.
These controls mean you won’t get hit with surprise statements. Just peace of mind and credit history for your teens. How? With the Family Cash Card, your teens build credit when your credit activity is reported to the credit bureaus.
The whole family earns up to 3% cash back on purchases
Greenlight’s Family Cash Card pays off for your entire family — because as a family, you earn up to 3% cash back on every purchase. No categories, no limits on rewards, and no need to fumble with multiple credit cards, ever again. You can auto-invest cash back to propel your family’s college plans, put that money toward their first apartment — you name it. They grow so fast, and with up to 3% cash back on purchases and auto-investing, their money can grow too.
Help them build their credit confidence
When teens build credit, it’s a big score for everyone. Ready to get started? If you already have Greenlight, just head into the app, and add your teen as an authorized user. Once they receive their card, it’s game-on for building credit.
Don’t have Greenlight? Sign up for a subscription today, apply for the Family Cash Card, and once approved, add your teen. They’ll thank you for helping them learn about credit before they make important money decision of their own. Cheers to that.
Sign up for Greenlight to get started.
Scan the QR code to download the Greenlight app and sign up, then tap on the Family Cash Card tile on your Parent Dashboard to apply.
¹Earn 3% when you spend at least $4,000 in a billing cycle, 2% when you spend at least $1,000 but less than $4,000 in a billing cycle and 1% when you spend <$1,000 in a billing cycle. See the Credit Card Rewards Terms and Conditions for details, including earning, redemption, expiration or forfeiture.
²Read more about how good credit can help teens secure the best terms and interest rates on financial products on Experian.
© 2022 Greenlight Investment Advisors, LLC (GIA), an SEC Registered Investment Advisor provides investment advisory services to its clients. Investing involves risk and may include the loss of capital. The reference to SEC registration does not imply that the SEC has endorsed or approved the qualifications of GIA or its respective representatives to provide any investment services described on this site or that GIA has attained a level of skill or training.
The Greenlight Family Cash Card is issued by First National Bank of Omaha (FNBO®) pursuant to license by Mastercard International.
Familial relationship not required to obtain benefits.
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