In order to help them spend their money more securely, teenagers on a social networking site have been offered pre-paid credit cards.

Reports said the offer of ANZ Visa card via MySpace was the first of its kind in Australia.

With a maximum balance of $1,000 (about £618) the card is being offered to teens aged 13 and above who have a MySpace account.

The credit card provider said the plastic will enable teens make purchases for concert tickets and phone credit (airtime) responsibly.

According to MySpace spokesman, Nick Love, the card will give under 18s that are not eligible for a credit card more freedom and security to make purchases on the internet.

In the same vein ANZ spokesman, John Harries, said customer research revealed parents were looking for simple, convenient and secure alternative to cash for young people.

He explained that the card is not linked to a deposit account and that users do not need to be ANZ customers.