Prepaid Credit Cards Teach College-Bound Students Financial Responsibility

Worried that your college-bound student lacks financial management skills? Parents are finding it easy to educate their college-bound teens with https://www.netspend.com prepaid credit cards. Here’s why.

1.A Prepaid Credit Card won’t rack up the bills. Prepaid debit or credit card users are limited in what they spend on the card to the amount that is loaded onto the card. This means parents do not receive (surprise!) maxed-out credit cards bills in the mail, and have total control over the amount being spent.

2.Teach your college student to budget. Since parents control the limit of spending on prepaid credit cards, it’s easier for students to learn how to budget. Once they run out of cash, they will not be allowed to spend more, until they or their parents reload the prepaid card.

3.College students can use their prepaid credit card anywhere regular Visa and MasterCards are accepted, even for online purchases. This empowers your student to make their own decisions and make purchases on the web without having to borrow a parent’s credit card. Over 21 million US merchants accept prepaid credit cards as payment for goods and services. Students can also use their prepaid credit card at an ATM to withdraw cash at any time, for those cash-only purchases.

4.Prepaid credit cards are easy to start up. The popular All-Access prepaid card from Netspend requires no credit check, and no payment up front to order online. This is great for college students with no credit history, and parents who don’t have the time to fill out paperwork or wait in line at a bank. All you need to apply is your name, valid address, date of birth (must be at least 18) and a government ID. Non-US citizens can also use prepaid credit cards by providing the same information.

5.Shell out funds for living expenses in plastic, not dollars and dimes. There’s a lot less fear in handing out a prepaid credit card to your college student than dealing out cash or gift cards. While cards are easily replaced and funds saved, lost cash is just lost.

6.Play it safe. Since https://www.netspend.com prepaid credit cards eliminate the accumulation of debt, a college student using a prepaid credit card is not in danger of damaging their young credit history by making purchases they can’t afford.

7.Transferring money to a prepaid credit card is hassle-free for parents and fast. NetSpend’s All-Access prepaid credit card account holders can transfer or receive money at any time through NetSpend Customer Service, or online at NetSpend.com. To reach customer service, just call 1-86-NETSPEND (1-866-387-7363). Parents and students can also check their balance for free online or via text message at any time, to keep track of purchases and spending.

Article Source: ArticlesMaker.com

About the Author: To learn more about prepaid Visa cards and prepaid MasterCards from Netspend, please visit www.NetSpend.com. 

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