Slovakia: Over half of children actively use payment cards

A representative survey conducted by Ipsos for Home Credit reveals that 53 percent of children in Slovakia actively use a payment card. The age at which children receive their first card varies widely, ranging from preschoolers to older teenagers.

According to analyst Jaroslav Ondrušek, the largest group of users (38 percent) began using a card between the ages of 14 and 16. Approximately 25 percent started between ages 11 and 13, while 18 percent began between ages 8 and 10. Notably, 4 percent of children had access to a card as early as 6 or 7 years old.

Experts suggest that a payment card can serve as a practical tool for teaching financial management. Miroslav Zborovský, an ombudsman for the company, noted that providing a card may be appropriate starting around ages 8 to 10, provided the child understands the value of money. He recommends setting low daily limits and ensuring parents receive transaction notifications to monitor spending, including digital purchases like games and subscriptions.