Prepaid Credit Card–Child’s Play,Catch them young, inculcate good spending habits early. These days the young ones are in a great hurry to grow up, but sometimes growing up is a grueling process. Its time to catch up with the grown-up’s point of view about life. The rebellious spirit makes them uncontrollable and pocket money is no exception. The parents find it embarrassing to hand over money, and awkward enough to question their irresponsible spending habits. Some parents have found a better way to teach a lesson these kids. A Prepaid credit card!
This is a no-risk card and doesn’t create card debit, as the cardholder is permitted to spend what is preloaded to the card account. A built-in safety system-no money no spending. Kid will be kids! After all, at that age young people fall prey to impulsive spending, which is highly habit-forming. A prepaid credit card curbs this habit; the parents deposit a certain amount (budgeted) at a beginning of a month and hands over a prepaid card to the kids with an advice on values of money etc. until the next reloading the kids have to manage with the money. That’s how it teaches them the art of money management the street-wise way. Both parties mutually decide on limits, reloading period the rules are set. And the training begins freedom comes with responsibility! Kid!
Prepaid credit card for kids comes with no annual fee and absolutely no charges on direct deposits. Choose from features like free email alerts, free online billing, there is no risk of incurring a bad credit report to credit bureaus. The students spending are limited to the preloaded amount, thus the parents are able to control to some extent the spending behaviour. Prepaid card is designed keeping the parent’s expectation in mind and the spending habit of the kids.
Advantages of a prepaid credit card.
• No credit checks required, anyone qualifies.
• No debt as only the credited amount is accessible.
• If stolen only the outstanding is lost, it can be blocked as well.
• The ATM feature helps the student to draw cash instantly, and add the amount as and when possible. There are ATM fees in some circumstances.
• No charges, or interest no worry of late payments, no paybacks.
It is still advisable to read the fine print before committing to any prepaid credit card. The terms and conditions need special attention. Compare the features and advantages of card issuers, and the card. Prepaid credit card is trouble-free and the young find it easy to operate as well. The students plan their monthly budgets and accordingly spend out of the prepaid credit card, the frequent pocket-money issues are dissolved between the parents and children. The young are at the mercy of their parents as they do not have a source of earning and have all expenses to make. It needs some good money sense make both ends meet. Most kids learn to do that with time.
Prepaid credit card is an exercise in good practicality.
*See the online application for details about terms and conditions Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. When you click on the offer you desire you will have an opportunity to review the credit card terms and conditions on the credit card issuer's web site.