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Independence is more becoming of teenagers these days. Technology allows them to not only be separated from their families for longer periods of time, but it allows parents to continue to monitor spending with financial tools like the Pink Kitty Prepaid Teens Card.
Reloadable prepaid debit cards are ingenious financial tools that can prove to be quite effective in teaching teenagers independence. Many young people want to be able to spend money that they might have earned—whether through an allowance or a job - on their own, without their parents looking over their shoulder.
At the same time, parents want to make sure that their teenage children are not squandering their money on too many unnecessary things. This prepaid teen card is one of a line of debit cards that aims to help alleviate this anxiety.
Responsible Teenage Spending
The Pink Kitty Prepaid Teens Card is, in essence, a prepaid debit card. Anyone who has access to the account (which is easy to do online) can make a deposit which can then be used anywhere in the world where MasterCard is accepted. The application is easy to complete using the simple online interface but there is a great deal of information that they will ask for. Still, for parents who want to give their responsible teenager some freedom, it is well worth the work.
One of the reasons why the Pink Kitty Prepaid Teens Card is so goof for parents is because aside from limiting the amount of money your teenager spends, you can also monitor their spending habits by observing the sales records on the website. For example, if you load the card for the purposes of back-to-school shopping you can make sure that they are spending most of the money on school supplies and clothing.
At the same time, you can also simply use the website just to make sure that there is enough money in the account for managing day-to-day expenses. Maybe you want to give your teenager some lunch money or they are going to the prom and need money for the meal and limo. No matter what kind of expenses you anticipate they might have, you can make sure that they always have enough money to cover it (and that they are spending their money responsibly to earn their freedom).
The Pink Kitty Prepaid Teens Card saves you money over credit cards, obviously, because it does not operate like a credit card. This means that the card is devoid of:
- Credit checks
- Credit risk
- Interest rates
- Late payment charges
- Returned check fees
There are some fees associated with the Pink Kitty Prepaid Teens Card which are lower than the fees you will find with traditional cards. This includes:
- Membership fee (monthly)
- ACH load funds fee
- ATM balance inquiry fee (accessing your balance through the website is free, and email and text alerts are also free)
- ATM withdrawal fee
At the same time, there are some fees associated with the Pink Kitty Prepaid Teens Card. However, these fees are much lower than any fee that might normally pay with a credit card or bank-based debit card:
- Startup fee (one-time only)
- Overdraft fee
- Signature purchase fee
- PIN purchase fee
The application process, while somewhat lengthy, is very simple and since there is no credit check approval is nearly instantaneous. However, you need to be sure that you have all of the information they need in order to complete the application:
- Parent's name
- Parent's email address
- Parent's mailing address (the billing address)
- Parent's phone number
- Parents birth date(s) (for credit check purposes)
- Parent's social security number(s) (for credit check purposes)
- Teens name
- Teens email address
- Teens phone number (if applicable)
- Teens birthdate
- Relationship to applicant (son, daughter, niece, nephew)
As stated, basically, the Pink Kitty Prepaid Teens Card can be used anywhere in the world where Mastercard is accepted. This includes retailers, restaurants, gas stations, and even on the internet.
You can help your teen learn to handle money responsibly with the Pink Pink Kitty Prepaid Teens Card. You can use it anywhere that Mastercard is accepted but without concern for traditional credit issues and regulations. Anyone can make a deposit so it’s perfect for families.