Do Kids Need Credit Cards?Danielle
It is no secret that the Kardashian sister’s are everywhere you turn today, but now they are reaching out with a new product specifically aimed at our children – a prepaid credit card, that parents can track on their cell phone.
The product, a credit card made for, and marketed to children is causing a lot of discussion on the product – now parents are chiming in with their thoughts.
On twitter one mother described it as a waste of money. “One more money making scheme by the Kardashian clan.” referring to the sizable cost of the product. $10 for the card itself, and an additional $7.95 a month in usage fees.
Some parents have discussed this as an opportunity to help teach their children, and teens about being responsible with money. Budgeting, working hard for what they have, and watching the finances closely.
A lesson that all of our young people are in serious need of today. Many are graduating high school unable to count back proper change without a cash register of calculator telling them correct amount to distribute. Or better yet, not a clue of how interest and credit cards really work. In turn leaving many young adults with unrealistic notions of credit and debt.
On the other hand of this growing debate are the celebrities marketing this prepaid MasterCard. The Kardashian sisters are certainly not new to the spotlight, and in a recent interview about this prepaid product the claws came out on which sister wastes money, or spends foolishly. Nothing new to anyone who tunes in to their E! reality series.
When asked which one of the trio spends the most, Kourtney said, “No question, it’s Kim.” Kim, who once admitted to spending $2,500 on a pair of lace-and-python Christian Louboutin booties, nodded her head in agreement.
Something that may not be giving our children the lesson they truly need while trying to follow in the foot steps of the celebrities marketing Queens.
The company the Kardashian’s are working with on this project, Mobile Resources said in a statement with ABC news :
“It is clear that the Kardashian’s are very wealthy, Kim also just spent $30,000 on a purse. They can well afford their expenditures. They wanted to take state of the art technology to their fan base, providing them with a vehicle to protect their money and control and track their spending with all instant alerts to their cell phone.”
As a parent the idea of a prepaid credit card that can be easily tracked via cell phone service is certainly an attractive product, but may be better suited without the celebrity endorsement.
photo credit : Steal Their Style
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