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Benefits of Ordering a Prepaid Card for Your Teen

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When your teenage children want to make their own purchasing decisions, perhaps it is right time to order a special credit card for them.

Of course, allowing them to borrow your credit card whenever this suits you gives you tighter control over their spending.

Yet if you want to teach your children how to shoulder a responsibility for their finances, it is perhaps better to hand them their personal credit card and let them manage their purchases on their own.

Lest your children immediately run into debts or invest money into unnecessary or even dangerous items, you can order a teenage prepaid credit card for them which will allow you to track and monitor how exactly they use their money.

Working like any other prepaid credit card, a teenage version of it will help you achieve the goal of bringing up people with strong financial acumen and deep respect for their own and others’ money.     

Any prepaid credit card is similar to bank debit or ATM cards. The major difference is that you add money to it in several ways.

You can have your paycheck or any other check directly deposited onto your prepaid credit card. Or you can add cash to it through Western Union, Visa Money Link, MoneyGram, and other cash networks usually located at banks, post offices, and supermarkets.

What is even more convenient is that you can transfer your funds from your card account onto the card account of your child whenever money is urgently needed. Part of the MasterCard or Visa networks, the prepaid credit card, like MasterCard and Visa, are accepted everywhere and easily used to withdraw money from any ATM.    

The prepaid card for teenagers is no different, though it has additional attractive features.

As mentioned, by handing the prepaid credit card to their children, parents retain the prerogative to keep an eye on their spending. At any time, you can see how and where your children use their funds.

College students probably would not feel excited about your supervision over their financial movements and might resent it, but your younger children would surely not mind your financial control.

The prepaid cards marketed for teens also permit to use one bank account for several cards thus enabling you to transfer money to your children whenever they want it. More importantly still, teenagers’ prepaid credit cards are less costly.

Some companies let each member of the family of four have a card for only 0.70 dollars a month. If you deposit at least 500 dollars on your card, it will have zero monthly fee.

And you will always be able to add more money on the card from your bank account for free. The security features of the prepaid cards for teens are as good as on other cards.

All purchases of your children will be protected by the same guarantees and anti-fraud measures that Visa, Mastercard, and American Express provide for their cards.

If your children lose their prepaid credit card, they will not be held responsible for fraudulent transactions.  

Ordering the prepaid card for your teenage children will make their lives undoubtedly more comfortable.

This comfortability, however, is what fuels some dissenting voices branding all prepaid cards as a tool to spoil children.

Teenagers, critics claim, look at their credit cards, which, let us face it, are no real credit cards, as a monetary source conveniently refilled by their parents at their first request.

Viewed as a never depleting container with funds, the prepaid cards only lure children into erroneous thinking that money in real life miraculously flow to people at will.

The cards’ defenders disagree with such negative interpretation of their pedagogical impact on teenagers.

They say that prepaid credit cards teach children to plan their spending ahead, since they know that their funds are limited.

Thanks to these limitations, teenagers also learn to prioritize their purchases, deciding what they absolutely need to buy and what can be forgone.

In so doing, children master the art of managing their finances responsibly and thus become well prepared for their future adult life.   

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