Education of children is very important, especially financial education. Every day my younger daughter can see this magic little plastic card in my hands, which pays for everything me buy. She doesn't know yet about APR or cash back or that mommy goes to work 5 days a week to pay off the credit card bills or we all are going to be in trouble.

To my mind, the financial education should start from the early age. Kids have to learn about the value of money and especially about credit card offers that they will use in a little while. It is very important as their financial future will depend on the basis of financial education they were given.

I am a mother of 2 children: one of my daughters, Missy, is 6, another, Laura, is 16. I think that it is very important for my children to know all about credit card offers and its wise usage.

It is hard to explain all the financial terminology to Missy, but I try my best to make it fun for her. I take her to the mall with me, she looks at all prices and I explain her which one is the best. Every time we stop by the cash register I explain to her that the computer is counting the money we are spending.

It is very hard, but I try to explain her that we should buy all the things we really need, not all the things we want. Missy has no clue but that's the way it works with credit cards! I really want my little daughter to be educated enough to have good credit history and not to make financial mistakes that can ruin her life.

Laura is already sixteen; she is planning to go to college, that's why it is very important to tell her all about credit cards. In 2 years she will be a credit card owner herself!

I've seen to many college students, who were abusing their student credit cards simply to impress their friends. I try my best to explain that credit card - is not free money; you always have to pay back.

She knows the credit card basis: that credit cards have higher interest rate that practically any kind of borrowing, credit card terminology, etc. Laura is well aware of the fact that by making only minimum payments she will never pay off the debt and will end up with bad credit history.

Now Laura is an authorized user of my credit card. It really helps to teach responsibility, because she knows very well that she is responsible for my credit history too. I think credit cards for minors can help to teach your kid to use credit cards correctly.

I think it is very important for all parents of young Americans to educate their kids about credit cards. We live in the 21st century in the United States where each family now has about $10000 in credit card debt! I want my children to be debt free, I am sure you want yours too. Remember the best time to start helping your children to build stable financial future - is their childhood.

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