<p>We set up a student BoA checking account for our D the summer before her first year. She knew we’d put X amount in per month, and once it was gone – it was gone. This was her first exposure to budgeting. The summer after her first year, she applied for a CC at BoA. She did not need for us to co-sign. Her limit is relatively low. She uses her CC almost exclusively now so that she can get the points back and build her credit history. We get the monthly statements and pay it off each month. (Boy, can my child go to some place called Sweet Frogs a lot!:))</p>