Credit and debit cards can be good ways for teens to pay without carrying cash or checks, and they can help teach kids about how to manage money. But teens and their parents need to be especially careful to avoid serious debt problems or a bad credit record at a young age. Among the alternatives: Cards with features for young cardholders, such as a low credit limit, or a pre-paid, re-loadable payment card that comes with parental controls, including spending limits.
