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Credit Cards

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

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20 Comments

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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.

General In The Forums

Tennis123
Tennis123 posted in Debating:
anyone who honestly believes the earth is flat, please add me so we can have a private 1 on 1 conversation about this.
reply 27 minutes
Tennis123
Tennis123 posted in Debating:
a college degree means literally nothing. and lets see the moons shadows, timezones, the horizon, the fact that you can see farther when you are higher up, hurricanes (because of the earth spinning), need i go on?
reply 36 minutes
unicornsrule626
"Tennis123" wrote: then that kinda proves your aren't logical. do you honestly think some youtube video with a conspiracy theory nut holds more merit than scientific fact and evidence? What if that ' conspiracy theory nut' holds a college degree? Would that make you believe them? AND WHAT EVIDENCE DO YOU HAVE THAT THE EARTH IS ROUND? You can't see it with your own eyes! Unless CGI pictures count....
reply about 1 hour
Tennis123
Tennis123 posted in Debating:
then that kinda proves your aren't logical. do you honestly think some youtube video with a conspiracy theory nut holds more merit than scientific fact and evidence?
reply about 1 hour
CaptJolee
CaptJolee posted in Debating:
"Tennis123" wrote: "CaptJolee" wrote: "Tennis123" wrote: i would like to point out that theres a difference between having an open mind and believing crazy stuff because of willful or unintentional scientific and factual ignorance. youtube videos made by conspiracy theorists are not a very good source of information. I honestly think that if you believe the earth is flat, there is something fundamentally wrong with your way of thinking and how you decide whats true and whats not. so what your saying is that if we believe in the flat earth we have some kind of mental problem??? what I'm saying is that you're not a logical person and are easily manipulated if you do.   well im quite the opposite since i research both side of the theory by looking at even the debunks
reply about 2 hours