Credit Cards Go After Youth Market

[jeffrey]

Credit card companies are trying to hook young users by plastering prepaid cards with their favorite icons. Last week, MasterCard introduced a prepaid debit card featuring R&B crooner Usher. Later this month, MasterCard will unveil a card with cartoon character Hello Kitty.

Critics say the cards promote spending and keep users from building credit history. "It's inexcusable they are being marketed to teens, especially younger teens," says Ken McEldowney, executive director of watchdog group Consumer Action. The cards teach kids to "beg your parents to put money on your card so you can shop until you drop"... [read more at usatoday.com]

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