Friday, March 6, 2009

Current by Discover Card

So how do you respond when your tweens and teens try to convience you that they are ready for their first credit card? To help us balance the desire of our kids with the balance in our checking accounts, Discover Card came up with a truly innovative debit card called Current by Discover Card, designed especially for kids ages 13 to 18.
Only a parent or guardian can sign up a teenager (who's under the age of 18) for Current by Discover Card. Here’s a quick summary of what it offers:
What it is:
Current by Discover Card is a new debit card meant especially for teenagers
Teens don’t have to carry cash around, and if they lose the card, the money is still safe
Parents stay in control—they decide how much teens can spend,
and can even restrict where they can shop
Parents can keep track of what teens buy via online statement,
e-mail or text message alerts at anytime
How it works:
Parents deposit money from a credit card or transfer from a bank account
Teens can even direct deposit their paychecks
Parents set spending limits and restrict where teens shop
Deactivate the card if lost, and reactivate when found
The $0 Fraud Liability Guarantee means that if someone else uses the card without your authority, you’re not responsible
It’s only $5 a month per card. There are no minimum balances or loading fees
Why parents and teens love it:
Teens like it because they don’t have to worry about losing cash
Parents like it because it helps teens learn smart spending skills
Teens like it because it comes with discounts at the places they like to shop
Parents like it because they can send teens money at the click of a mouse
Get started at:
As parents, we have the responsibility to discuss wise spending habits as a family. Discover Card created an online resource, to help us talk with our kids about managing and spending money, and the importance of setting limits.

Experience often serves as the best teacher. The Current by Discover Card provides kids with access to money in the way they want it while still giving us Moms what we need - independent spending by our kids without debt or incurring hidden fees.

Thanks so much to Mom Central for letting us know abou this great resource!


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