Kw-logo-smaller

Credit Cards

Hilary Duff and Visa have teamed up to bring you the Hilary Duff Visa Gift Card.
Courtesy of Disney

No matter where you get your cash - an allowance, a part-time job or the Tooth Fairy - you wanna make sure you get the most bling-bling for your buck. Kidzworld has the 411 you need to keep your finances under control.
 

What Is Credit?

When you buy something on credit, it means that someone loaned you the money for it - usually a store or a bank. Credit cards (Visa, MasterCard, whatever) are cards you use to buy stuff with, instead of using cash. Credit cards are totally convenient and they help out in a financial emergency (no, wanting a new L.A.M.B. purse doesn't count as an emergency) but they aren't perfect. If you don't pay off your whole credit card bill when it comes at the end of the month, you'll be charged interest on the remaining balance, which means that that $50 sweater you put on your MasterCard could end up costing you a lot more than $50 in the long run. This can totally add up and you can wind up owing big money to the credit card companies if you're not careful.

Who gets Credit?

To get a credit card of your own you need to be 18 in most countries. Some kids get credit cards that are linked to their 'rents accounts. Your folks are totally responsible for all of the charges on these types of cards, so be extra careful with them! When you go to college, you'll notice tons of credit card peeps will try to convince you to sign-up for their card. If you decide to go for it, make sure you read all the fine print and get the lowest interest rate you can find. Once you've got a credit card, make sure to make all your payments are on time cuz if you don't, it will look bad on your credit rating. Your credit rating is a score that is used to decide if banks will lend you more money (for a car, house, new business, etc.).

The Hilary Duff Visa

Just cuz you're too young to have your own credit doesn't mean Visa doesn't want your business! Hilary Duff and the folks at Visa have teamed up to bring you the Hilary Duff Visa Gift Card. It's not a credit card cuz you can only spend whatever amount of cash your 'rents loaded it up with, but you can use the card anywhere Visa debit cards are accepted. These cards are cool cuz they give you the opportunity to spend your cash anywhere - you aren't limited to one store like you are with a gift certificate. Just keep in mind that getting used to buying everything on plastic is an easy way to get into bad spending habits in the future. A real Visa - or any other credit card - is not a toy!

Your Money

Related Stories

 

>
>

readers voted!

Comments

lili1234567

lili1234567 wrote:

I don't have a credit car obviously
commented: Sat Jul 19, 2014

nickguw

nickguw wrote:

I'm 10 and I have one
commented: Wed Mar 06, 2013

nickguw

nickguw wrote:

i have a credit card
commented: Wed Mar 06, 2013

there are 20 more comments

Please login or register to add comments

share with your friends


Twitter Facebook Myspace Digg


like this article?
Sign up now to get more just like!

latest videos

F1067448135562

What Do You Save Your Allowance For?

  • A big day out with your pals.
  • Video games and computer stuff.
  • Clothes, clothes and more clothes.
  • CDs or posters of my fave musicians.

related stories

Micro_micro_wallet
Do you need a new wallet? Would you like one that’s the exact pattern, size and color you’ve alwa...
Micro_supermonkeyball-article
If you are going off the rails and need some help, look no further than our Super Monkey Ball Ste...
You probably recognize names like Baltic Avenue and Park Place from your old Monopoly set, but th...

Random in the forums

YouWillRememberMe-
I do not have a creepy obsession with Rihanna.
reply 16 minutes
InternetOwl
ElephanT
reply 17 minutes
YouWillRememberMe-
I'm nearly 14 and I still play with my own food....
reply 20 minutes
eult_lacrosse37
GIRL IF YOU STILL WANT TO PLAY WITH YOUR BARBIES THEN SO BE IT! YOU SHOULDNT GAF IF PEOPLE JUDGE YOU -_-
reply 23 minutes
eult_lacrosse37
It all depends on who the person is. If they want to date a 40 year old guy disguised as a 14 year old kid then that's on them. I have a blog about why long distance relationships don't work.
reply 25 minutes

play online games

Candy-100

A great online version of the famous Candy Crush. This is the best game launched...

1515_gl_kidzworld_100x100_jpg_fz

Intriguing planets, weird and wonderful characters; challenge friends and find a...

157262_(2)

When you go back to Candyland, you’ll wonder why you ever left in the first plac...

100x100_ra_logo_girl

Uncle George has left you his farm, but unfortunately it’s in pretty bad shape. ...

_thumb_100x100

Shoot blobs with different properies to merge yellow blobs. Your blobs can be re...