How can I set up different profiles (accounts??) using the credit card?

Each member of my family would like to have there own itunes profile (or account??), but we'd like to use the same credit card. Is this possible? Does each family member need a unique email address for log in.
Thanks
Markoman

So my sister and I have our own separate iTunes accounts, and she has her set up with her credit card. She let me use her credit card on mine but it keeps saying the security code is invalid. Then the credit card company called about her credit card activity. Are you sure it's not impossible to use the same credit card on our different accounts?

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