The Student Debit Card
Does your child run your credit card bill through the roof? Does he/she think money grows on trees and that credit cards are the gift of free money? Are they oblivious to the pain of opening up a credit card statement? Then it's time you got them involved with their own student debit card. Teach them the value of a dollar by using their own dollars. The best way to learn is through experience. Have them experience the joy and freedom of spending, but also the reality of money not being interminable. This will prepare them for their future dealing with and maintaining credit.
What is the difference between a student credit card and student debit card?
In short, the student debit card is a teaching tool. What the student debit card does is deduct money out of your account anytime you make a purchase. It's like a credit card attached to your account. The great thing about that is you'll have a very hard time maxing out your card and owing money (because there is no statement or bill to pay). There are different cards to choose from. For example, there's the student Visa card and the student MasterCard. With a student credit card, you may still have a low interest, but there's that annoying bill you have to contend with. Not to say it doesn't have its advantages. There are great rewards that pay for themselves whenever you use your card.
Whatever way you decide to go, invest in a student card. It's the first step to sending your kid on his/her journey of financial freedom and responsibility. Get online today and apply for one of many student cards. Not only will your student be grateful, but you can now sit back and relax and guide them through the pitfalls of crazy financial decisions -- without using your own money. Apply for one of our student debit cards and enjoy interest-free spending. A student debit card will get you on the right road to establishing credit...fast. It all starts with your prepaid student card.
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