BillMyParents Reloadable Spend Smart MasterCard
When children reach the teenage years, there is a drastic change in their attitude and view on life. They want more independence, both financially and personally, as well as the challenge of becoming more responsible. While most parents are reluctant in giving their children what they ask for, it is important to respect the children’s views and their willingness to mature and grow up.
The BillMyParents Reloadable MasterCard : Just For Teens!
Now, with the BillMyParents Reloadable Spent Smart MasterCard prepaid debit card, parents can seriously consider the option of giving their kids greater financial responsibility and the independence that the latter are so keen for. Not only will the kids be happy in having their own mode of making payments, their parents will also have better peace of mind in knowing that the debit card is a secure and flexible method of making purchases.
BillMyParents Reloadable Spend Smart MasterCard – Review Summary
This card is perfect for parents with teenage kids, because it gives both parties what they want. The kids will have their own personal debit card to spend money, while the parents will still have control over how the kid spends the money. There is a distinct peace of mind in having the BillMyParents Reloadable Spend Smart MasterCard because you do not have to worry about your kid overspending or making stupid and ill-advised purchases, as they would or could do with credit cards or cash. They will not be able to spend more than the balance on their prepaid debit card.
Better Family Life With The BillMyParents Reloadable Spend Smart MasterCard
Both the kids and their parents often want to have complete control of the financial situation, often making it a major source of conflict. This debit card makes this struggle a lot less stressful. The process is very simple. As the parents get to decide how much money to deposit into the debit card, they can limit their children’s expenses too. Moreover, thanks to the free email and SMS services, both the parents and the kids can keep track of all the transactions. Every time a transaction is made, an email and SMS is sent to all the designated phone numbers.
BillMyParents Reloadable Spend Smart MasterCard Helps Build Financial Management Skills
Keeping your child on a limited budget is a great way to teach and help them build up their financial management skills. With this prepaid card, the parents can relax, while keeping an eye on what their kids are doing without being too overbearing or obtrusive. The teenage years are the most important when a child’s personality is being molded. This is why it is important for parents to let go a little bit. For a start, granting your kids some financial freedom and responsibility is one of the more effective methods of doing so. One great feature of this card is that the kids cannot spend more than they have in their account.
BillMyParents Reloadable Spend Smart MasterCard – Features
This prepaid card comes with the safety MasterCard features. The card limit is set at $5000, and there is no minimum balance requirement. The parents can also set specific spending limits for the card, such as no purchases which exceed $100. These limits can be adjusted accordingly over time. The parents can also lock the debit card by sending a single text message to the card provider. Regardless of where the cardholder is, the card will be instantly locked whenever it is charged. This also means that the kid will not be able to withdraw cash from ATMs. The card can also be transferred or top-up as and when the need arises. There are also no credit risks and overdraft fees. With its various security features and flexibility, this option is lot safer and more convenient than cash.
BillMyParents Spend Smart MasterCard – Pricing & Fees
The BillMyParents Teen Spend Smart MasterCard has no activation fee, which means that the entire application process is fast, easy and free. The monthly fee is only $3.95, which is a bargain, given the numerous benefits of this card. The signature transactions, as well as the PIN transactions, are also free. However, like most prepaid credit cards, there is a cost for using ATMs. The withdrawal fee is $1.50, while the fee for checking the account balance is $0.50.
As in all financial decision, carefully weigh the benefits and disadvantages of this card before deciding whether you want to take it up.
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