Pre Paid Credit Cards For Teenagers Under 18

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A Guide To Pre Paid Credit Cards For Teenagers Under 18

Teenagers are no longer satisfied with asking for a few bills to cover expenses or having their monthly allowance. Equipped with smartphones and more independent than ever, nowadays they also go to the ATM. They have access to a bank account and pay by card, in cash or installments. This is all happening from the age of 13, which is much earlier than just a decade ago.

This is possible because banking options for teenagers have multiplied, thus enabling them to have an early banking debut. Nowadays, there is a wide range of financial products for children from the age of 13 to 17. The pre paid credit cards are linked to the bank and savings accounts of their parents who provide funds.

Many parents see advantages to the system. As a result, they ask for extensions of their credit card in the name of a child and set an expenditure limit.

The banks typically offer these services to children from 13 years of age, which was previously limited to 16 years of age. This allows parents to share banking benefits with children.

At the beginning of adolescence, it is time for boys and girls to learn how to use money. At that age, they should understand the value of money and know how to handle it. They should grasp with what it means to owe money and start managing their own budget. Many fathers and mothers consider whether to provide their adolescent children with credit or debit cards.

Pre paid credit cards are a popular payment option available to teenagers. They are issued in the minor’s name and allows the parents to monitor and control usage. In addition, parents can manage monthly payments.

Advantages Of Pre Paid Credit Cards For Teenagers;

  • Security – it is safer to carry a card than to carry cash
  • Learning – allows teenagers to prepare for their financial future
  • Internet – payments can be made online
  • Allows parental monitoring and control
  • Can be linked to parent’s saving account

The prepaid cards provide a more secure means of payment than cash and can be used anywhere in the world. They can also work as a gift card or money reserve for a trip. These cards allow younger people to become familiar with money and learn how to manage their budget.

What Kind Of Card Is The Best for Adolescents?

There are hundreds of credit or debit cards and many of them are designed for teenagers. Before providing a card to a teenager, it is a good idea to compare credit cards and choose the ideal option that is most suitable for your son or daughter.

Prepaid cards are similar to gift cards and can serve to pay online and offline. They have the advantage that they do not allow overdrafts, but they do not really work like debit or credit cards. The cards help teenagers become familiar with plastic money.

Debit cards do not provide credit, which is an advantage when it comes to adolescents. However, they do not serve to create a credit history. Credit cards provide overdraft facilities, thus allow borrowing. This makes them unsuitable for adolescents.

At What Age Should Parents Give A Card To A Teenager?

Many parents are keen to know at what age they can give a child a card. This is a decision that must be made based on parents’ preferences or discretion. In general, an appropriate age to start thinking about it is 14 years old. However, the call depends on whether the boys or girls are responsible enough.

A good strategy when parents are not convinced that their child will behave with full responsibility is to start with a prepaid card that is similar to gift cards. It can be used to pay in most places that accept credit cards. It works like a digital wallet that can be recharged directly via the parent’s bank account.

Parents must be aware that early exposure to plastic money prepares children for the time when they leave school at about 17. It is a good idea for children to have experience using a pre paid credit card before the age of 18. If they start using a card while at school, parents will be able to better monitor usage trends and correct potential issues.

It is also important to know that the law prevents children under the age of 21 from freely accessing a credit card, although they can always do so with a guarantor. A prepaid card allows your child to pay at merchants and withdraw money from ATMs with certain limitations.

For instance, the child cannot withdraw more than the available balance on the account. Parents can also set a maximum withdrawal amount. The card can be linked to a bank account in the child’s name.

Keeping The Card And PIN Number Safe

It is vital to teach adolescents how take care of the card, especially the PIN number associated with it. The loss of the card can pose a serious problem, particularly for pre paid credit cards with a higher limit. The use of credit or debit cards can create issues for teenagers who are not careful with confidential information since it is essential that they keep the PIN number secret.

Additional Considerations

The prepaid bank card has its origin in the mobile phone. Technology has enabled the use of mobile phones to acquire goods and services. It was therefore necessary for financial institutions to adopt an innovative way to provide access to plastic money for adolescents.

Credit card providers like Visa and MasterCard also discovered a viable option to win over new customers, especially teenagers and those who use cheque account services.

The prepaid bank card is available to everyone, including younger ones under 18 years old. The main advantage is that there is never an overdraft that generates debt. A prepaid card allows control over the budget while offering the convenience and benefits of a debit card.


When traveling, there is no need to carry cash. In most cases, if a card is lost or stolen, the credit balance will be transferred through a new account and the cardholder will receive a replacement card. A prepaid card issuer offers a guarantee in case of loss or theft. This is aimed at ensuring that the holder benefits from the same advantages as credit card holders.

It comes as no surprise that many parents are taking advantage of these cards for a variety of reasons. The approach provides an opportunity for adolescents to start banking early. In addition, teenagers can develop basic financial education skills, become more responsible and understand the value of savings.

Many families prefer that children carry a micro-payment chip card that debits money from an adult’s credit or debit card. Some financial institutions go further by offering wearable devices like a bracelet or keychain, which automatically recharge when the teen’s account has no available balance.

These financial solutions can be used for expenses, such as travel, meals or purchases from the kiosk.

Previously, young people did not gain access to bank services until the age of 18 but now children start from the age of 13 or 14.

They gain access to innovative financial products that are designed specifically for adolescents.

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