You might have encountered ads regarding prepaid credit cards for kids aimed at your children and parents can keep a tab on the child’s spending and even deposit the money into the account when required. The reason behind introducing credit cards for kids stated by the card companies is that it can teach them responsible spending and budgeting too. These cards can be blocked from purchasing restricted items and parents can also manage the allowances online.
To me it seems to be dirty ploy by the credit card companies to make children a credit card addict from a young age and probably they might learn nothing but at least they may learn overspending which is one of the vice associated with credit cards. Exposing children to credit cards at such a young age could do more harm than good.
Via buffalonews
