Most of my posts are geared towards families with younger kids, since that's what I have, but this week I'm going to take a look at a website to help teens with financial responsibility.
I've been asked by Mom Central to review Current by Discover. This card is designed to work as a debit card, with built in parental controls. Parents can add funds to the card, and can rest securely knowing that the card will not affect their credit score or that of their children. The card is backed by the same $0 liability against fraud and theft as the credit cards are, and the card can be restricted from use in various shopping categories. The card can be disabled if it is lost, and teens can use it at ATMs to get cash as well when necessary.
The card is also tied to discounts at various online sites (Target, AMC, Sports Authority) for online discounts or printable coupons, and parents can opt to receive email or text alerts regarding its use. Unfortunately, the card is not free - it is $5 a month to be able to have a card with the parental control, or an annual membership of $50. But if that helps you with peace of mind to have the extra control of your kids' spending, it's probably worth it to many parents.
No comments:
Post a Comment