Prepaid Money Cards for Teens

Sometimes teenagers cannot be trusted with credit cards. Impulsive shopping sprees can deplete the funds of a credit card and dip into other funds that are used through overdraft protection. Unfortunately, parents often suffer the consequences of their children’s improper use of credit cards. Thankfully, there are some better alternatives for giving teenagers money to spend in a format of a card.

prepaid

A smart card is a simple solution that can be loaded with money. There are no fees involved with such a refillable card. When the funds are completely used up, a teenager simply cannot make any more purchases. This means that there are no expensive penalty fees to pay for overdraft use such as with credit cards.

Parents can easily refill smart cards at any time through online electronic funds that are linked to bank accounts, credit cards and other accounts. Mobile apps make it easy for parents to manage the cards that their teenage children are using on a daily basis. For example, text message alerts can be sent to parents when a smart card has low funds.

There are no interest rates or any other fees associated with a refillable card. Such a card can also be used at any ATM or location that accepts standard credit cards. Reviewing a refillable card overview is an example of smart financial management for teenagers. Some prepaid cards can also be used to instantly exchange funds with other smart card account holders. Teens can give each other gift this way.

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