Whether you are for or against the concept, there's no escaping the fact that it is becoming increasingly acceptable for younger adults to flash the plastic. Is this a step forwards, a progression in the way that we perceive our finances and financial responsibility? Or is it a step too far, pushing a generation of 13-18 year olds into facing some very adult responsibilities?

Anyone venturing to take part in the debate must first be made aware of the differences between the average credit/debit card and the increasingly popular prepaid card. Bank accounts, credit checks, and high interest borrowing all belong under the umbrella of credit/debit. Prepaid cards are not linked to a bank account, there is no overdraft facility and no credit check needs to be performed. Best compared to a gift card, but re-loadable with a chip and PIN function.

The new prepaid MeCard is a MasterCard offering, thoughtfully marketed towards parents and teenagers. It is the latest example in a trickle of prepaid cards for youngsters, which have begun to infiltrate the market. Parents must sign up for a primary card and then a teen card for each of their 13-18 year olds. Online accounts are used to manage the money and these are cleverly linked, with parent able to view balances and transactions of the younger family members' cards.