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[quote=Anonymous]Your daughter is old enough to handle a credit card and benefit from the protection they provide vs. a debit card. And this is a great time to teach them how to manage credit and bank accounts. When our son was 18, we opened a Wells college checking account for him which also came with a debit card, savings account and credit card option. The credit card limit starts low and then they increase it with time.  We also have a Wells account and can easily transfer money to his account (we chose his savings) as necessary. He then transfers the amount to pay his credit card every month. The nice thing about this Wells package is that it is his credit card and we are not co-signers. We also can view and send transfers to his account but he cannot access ours. There is also no annual fee for the credit card. There might have been a monthly fee if the account dips below a minimum, however. I would do this for our nanny but she prefers a petty cash arrangement because she is a self-described shopaholic. [/quote]

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