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Old 27th August 2009, 02:00 PM
mlewis09 mlewis09 is offline
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Default Parents' pre-pay cash card warning

Parents are being warned about a card that comes pre-loaded with cash and allows teenagers to shop freely on the internet.

The pre-pay card is aimed at children as young as 13, but there are concerns it could allow them to buy products like cigarettes and alcohol.

Full story at BBC NEWS | Business | Parents' pre-pay cash card warning
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Old 22nd March 2010, 07:04 PM
Snippa Snippa is offline
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Default Re: Parents' pre-pay cash card warning

That is terrible. We have never thought about doing this for our children. If they want something and need a credit card, they come to us and we'll make the purchase. They have their own money to spend on things they want at the store.

I never thought of them being able to make purchases that are not age appropriate, but it could happen at any time.

I don't think pre-paid cards are a good idea for children. Even if you are trying to teach them how to handle money. There are different ways to do that.
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Old 3rd May 2011, 10:37 PM
guydoesit guydoesit is offline
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Default PrePaid Credit Card Pros and Cons

Prepaid credit Cards also have benefits. Firstly, they will not be entering into a credit agreement that they will most likely break at some point because they don't have any experience. Secondly, they will only be spending their own money or the parents money, which means when when it runs out there is no chance of them going over limit. Third, it helps educate them about money whilst allowing them to build their credit rating. My Advice would be to compare these cards against each other and make sure they do not enter into any credit agreement. I came across this website that seems to do a good job at comparing them. Prepaid Credit Card | Compare Pre-paid Credit Cards UK | Best Pre Pay Credit Card | Credit Card Application Also, read the article at the bottom of the page, which is a guide for using these cards. I had no idea that there were so many out there.
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