Have you ever noticed that teenagers get to do things that kids have to wait for? They can drive a car...go out with their friends...even shop with their own credit cards. Did you know that last year, teens in the United States spent $158 billion using their credit cards?

When you're a teenager, you'll get letters from credit card companies, too. Before you use credit, you must know how it can help you or hurt you if you're not careful.

A credit card is a handy way to pay for something if you're short on cash. It's also the best way to pay for something you buy on the Internet. But a credit card is not easy money! When you use it, you're actually borrowing money from the company that sent it to you.

If you use credit and repay what you owe on time, you will build a good credit history and you will have a good credit report. You will be able to use your good credit record to get loans to buy a car or a new home later on.

If you aren't careful, and don't pay your credit bills on time, you will be considered a credit risk and it will be difficult for you to borrow money.

Credit is a special privilege. Use good credit to get what you need and want in life!

Learn more about teens and credit.

See the high cost of paying only the minimum monthly payment on your credit card bill.