Benefits of Giving Prepaid Visa Credit Card to the Teenagers

Most of the time, parents have apprehensions when it comes to trusting a teenager with a credit card. They feel it like giving free money to the teenager. But the facility of making the card prepaid solves this issue effectively..

The best benefit of a prepaid card is that the parents have control over the availability of money to the teenagers. One very good benefit that a prepaid VISA credit card provides is that it is helpful in teaching a teenager financial responsibility even as still giving them the liberty to choose how to use their money. Parents are able to supervise the expenditure that is related with these types of card simply by examining the statement online or by calling the company to check what all is being purchased. When the card has run out of money, parents are able to reload it either over the phone or online. This provides a parent a lot more relief as they are able to track the expenses of their teenagers.

Many times prepaid visa credit cards are considered a lot safer than cash, reason being if the card gets stolen or lost then various companies reverse the unauthorized purchases. And in case, if the parents are concerned about the card being stolen or lost will simply not deposit a lot of money on the card. Moreover, parents can even change the pin number of the card on a regular basis, and can also save the card from the unapproved charges being placed on the card.

Visa has designed a prepaid credit card for teenagers, it is known as Buxx. This sort of prepaid visa credit card is considered as an ideal way for making the teenagers learn about the value of money before they move out on their own and get surrounded with millions of credit card offers.

Usually there are hidden fees associated with a regular credit cards but in case of prepaid visa credit cards do not carry any hidden fees. But as a parent, there are few things that you are required to do so as to make the card more effective. Such few things are- allocating a strict limit for spending, teach your teenager that once the money is gone it is gone, especially until the next cycle that you have agreed that you will deposit the money. Setting up of these types of rules from the starting helps and teach them to plan their expenses more effectively in the future.

Also do not forget to make your teenager learn the value of money by asking them to work for it. In place of giving them free money, ask them to perform some little jobs. This will help them to realize that they are required to work for their money. Prepaid visa credit cards can be an excellent way for teaching to the teens the worth of money.

So, do not hesitate in giving a prepaid visa credit card to your teenager. Learn more about these cards at http://www.cobrandedprepaid.com/.

About The Author

Tanya Asperson is an expert in personal finance and recommends prepaid visa debit cards, credit cards and other similar transaction platforms to be the perfect way to manage one’s expenditure and payment concerns. She recommends CoBrandedPrepaid.com as the best place to get all the support, information as well as solutions to your needs in this area.