To help us teach the important lesson of how to handle credit wisely, Discover Card has come up with their Current by Discover Card program. It features a debit card designed for kids aged between 13 and 18.
This innovative card allows parents the last word by letting YOU set the spending limits, either daily, weekly, or monthly. You can also block certain merchants (think liquor stores or cash withdrawals) and track how your teen is spending the money.
Since the card is a debit card, it stops working when the money limit is reached without costing you for any overdraft fees. Experience really is the best teacher and this card allows teens the ability to "practice" budgeting and handling credit without doing any lasting damage.
Thank you to Mom Central for sponsoring this blog post.
