Prepaid Debit Cards are a great way for you to teach your teenage son or daughter how to be responsible with money. One of the best lessons that you can teach your child is how to be financially responsible, which is something that they can take with them for the rest of their lives. With a prepaid debit card, you can never spend more money than you put on the card.
A prepaid card essentially acts just like a debit card but you will never be forced to pay overdraft fees. Your teenager can even login to their own account, view all past transactions and budget their money so that they can make the purchases that they want. These cards are also great for emergencies, if there is ever a situation where they need more money for a car repair or other emergency you can login to your account and transfer more funds. They are available from all of your favorite processors like Visa, MasterCard and American Express.
Top Rated Prepaid Cards for Teenagers
1.) Mango Money Card – the Mango Money card has the best user interface that we have ever seen. You can login and manage your account from your smartphone or from their website. It’s a very hip and cool prepaid card that you teen will definitely be thanking you for. Mango Money was also named one of the 10 most innovative companies in finance by Fast Company.
2.) AccountNow Prepaid MasterCard – the AccountNow MasterCard has been serving prepaid customers since 2004. They are one of the best and most respected companies in the entire prepaid card industry. Your teen can enjoy online shopping with their AccountNow MasterCard.
3.) Walmart MoneyCard – with the Walmart MoneyCard you are able to enjoy the strength of the Walmart network. If you have any issues with the card or need customer service, all you need to do is visit your local Walmart financial center for help. This also makes it very easy to load additional funds onto it or check your Walmart MoneyCard Balance.
4.) Prepaid Visa RushCard – The RushCard was introduced in 2003 by Russell Simmons and has been very popular in the teen market. With a RushCard your teen will be able to control their financial future, establish credit, and enjoy the safety of FDIC insurance.
5.) READYdebit Visa Prepaid Card – With a READYdebit Prepaid Visa card you can withdrawal cash at ATM’s and use the card just like a regular credit card. This card is very popular among teenagers because of the different design choices that you have.