Exit this survey Back to School Survey 1. Back to School Survey Question Title * 1. Does your child have a credit card? Yes No Question Title * 2. If you answered yes to question #1, why? To start building credit To learn how to be financially responsible For safety So you can see what they’re spending All of the above Other Question Title * 3. If you answered no to question #1, please tell us why. You are worried they may over-spend and be in debt You do not want them to damage their credit score early They’re too young for that kind of responsibility You’re afraid you will have to pay their debts Question Title * 4. Have you had any conversations with your children about the importance of credit and explained exactly how it can affect their adult lives? Yes No Question Title * 5. Are you aware that the recently passed Credit CARD Act of 2009 prevents a credit card from being issued to someone under age 21 unless they have a co-signer (who is 21 or over), or can provide proof of a means to repay? Yes No Question Title * 6. How involved are you with their spending? I check their monthly banking and credit card statements I placed a monthly maximum on their spending I monitor for unapproved charges – their card is for certain use only, i.e. emergencies, gas, groceries, etc. I check in on random occurrences I do not monitor their spending, I trust they will spend wisely Not applicable Question Title * 7. If your son or daughter has a credit card, who pays their credit card bills? I/we (parents) pay the bills They pay their bills with their savings They pay their bills with their job earnings I’m not sure/haven’t thought about it Not applicable Question Title * 8. If your son or daughter has a credit card, have you ever had to bail them out from a big bill? Yes No Not applicable Question Title * 9. If you had to bail them out from a big bill and were unaware of the charges made, were there consequences from their irresponsible spending? Yes – their card was taken away for a certain amount of time Yes – they are not allowed to have a card again, until they can pay us (me) back No – they learned their lesson No – they’ll have to figure it out on their own Not applicable Question Title * 10. Of the following financial pressures and challenges, which one do you see as the most troublesome for college students today? Helping pay for tuition, books and housing Keeping up with technology, i.e. computer, iPhone, etc. Traveling home for the holidays Partying/socializing – joining a fraternal organization Done