[Bella]

I saw a segment on the news the other day about this. The so-called expert was recommending that kids should get a credit card with a very low balance at 16 to help teach them how to manage credit. I thought this kind of makes sense. My parents didn't teach me squat about credit so I learned the hard way by getting myself in trouble when I was in college. Do your kids have credit cards?

[JennyP]

I think this is a good idea, if your 16 year old has a job and can pay for what they spend on the credit card. Otherwise, what would it really be teaching them? They have to learn that with credit, if they spend now, they will have to pay more later.

[craftymama]

I think this is a good idea as well, as long as the child has a job and it is within his/her budget. I think you should sit them down with the statements and teach them that they should be paying most of it off every month and if they can't they don't need to buy it.

[webhouse]

While it is a good idea, I wonder if is it not to early to teach 16 year old kid using credit cards. I worry the only thing he learns is that he can purchase things now and pay later.

[cero]

I can answer my thoughts on this in three words: Not gonna happen.

My kids are kids and the last thing I want is to teach them with repercussions of what credit is and why you need to keep it in check.

[homemaker]

No way absolutely not. If you want to help your kids learn financial responsibility teach them how to save for the things they want and pay for them with cold hard cash.

[homeworker]

I don't think so. It's so liquid, and I can't control how he would use it. I'd like to teach him how to be debt free instead.