Managing Balances
Tracking and managing your child's card balance is a key part of the Parent.credit experience. This guide explains how to monitor balances, track payment progress, and help your child develop good repayment habits.
Understanding Card Balances
Viewing balances on the dashboard
The Parent dashboard provides a quick overview of each child's card, including current balance, credit limit, and available credit. You can see all your children's cards at a glance.
Key Balance Terms
- Current balance: The amount your child currently owes
- Credit limit: The maximum amount your child can borrow
- Available credit: How much more your child can borrow (Credit limit minus Current balance)
Detailed balance information
Click on "Manage" for any card to see more detailed information, including the credit usage percentage and payment progress. This view also allows you to access the Task payments and Transaction history tabs.
Tracking Payment Progress
View task payment progress
In the "Task payments" tab, you can see how much of your child's balance has been paid off through completed tasks. This includes a visual progress bar and percentage indicator.
Pro Tip
Celebrate payment milestones with your child! When they reach 50% or 100% repayment, take a moment to recognize their achievement and discuss the importance of responsible borrowing and timely repayment.
Review transaction history
The "Payment history" tab shows a chronological record of all credit approvals and task payments. This helps you track how your child is building credit and repaying it over time.
Note
The transaction history provides a great teaching opportunity. Review it with your child regularly to help them understand how their spending and task completion affect their balance over time.
Child's Perspective: Payment Process
Viewing available tasks
From their dashboard, children can see tasks that are available for them to complete. They can select tasks based on the amount they need to repay and their ability to complete the task.
