Student Credit Cards

The new school year is right around the corner. Seems as though we just kicked the summer months into high gear, but now, many of us are preparing last year’s high school seniors for their first year away from home at college. One thing parents always worry about is whether or not our kids have money for those unexpected book charges, flat tires or lab fees. There’s one way to ensure those emergencies don’t become crises, and you can do this from your own living room. Student credit cards have proven an ideal solution for parents and students alike.

Parents can easily and instantly reload funds onto the student credit cards. It eliminates a lot of worry, especially for parents who are sending their kids away for the first time. Because the new semesters are getting ready to kick off across the nation, we reviewed a few of the most popular prepaid cards in an effort to provide parents and their kids the most current information. Keep in mind, until you delve into the terms and conditions associated with each card, you may miss the fine print that spells out the various fees. It’s just another reminder of how important it is to carefully research any offers. Here are just a few of the better choices available:

BillMyParents Prepaid MasterCard

This teen debit card has a host of benefits for both parents and their teens. Parents can easily lock and unlock the card if necessary, which is a smart option for those who are teaching their pre-teens and teens the responsible way to use credit cards. The fees are much lower than traditional bank fees and of course, if the card is ever lost or stolen, your money is safe.

Further, you can monitor each use in real time on the BillMyParents website. No interest rates, no annual fees and no worries about missed payment dates make this a choice that’s right for many. Completing this offer is the ease in which anyone can reload funds. Grandparents can add money to the card, Mom and Dad can keep the pizzas flowing into the dorm room and friends can add money as birthday gifts or to pay their share of the pizza tab.

NetSpend Visa Prepaid Credit Card

The NetSpend Visa is another guaranteed approval card that’s ideal for parents and teens. The flexibility offered by the Visa logo is always a good thing, Mom and Dad don’t have to worry about their college students or teens overspending since the credit limit is determined by the available cash on the card.

With the absence of concerns for overspending, you rest easier at night knowing you’re teaching your teens responsible money habits that will last a lifetime. Open the account with as little as $10 and reloading the NetSpend Visa is easy, too. ATM fees are just $2.50, and the account maintenance fee of $5.95 per month is waived as long as the debit card remains active, making this a formidable player in the prepaid credit card arena.

BuyRIGHT Prepaid MasterCard

No credit check, no bounced fees, no overdraft fees and one of the highest ranked customer service teams around, the BuyRIGHT MasterCard is the one many parents and teens are turning to. Some of its other many features include online bill pay, the ability to earn rewards and free direct deposit. It too is opened with as little as $10. There is a $9.95 application fee and ATM fees are $2.00.

If you ever wondered about a prepaid card doubling as a rewards credit card, you’ve found it in the BuyRIGHT. The website is also chock full of money management tools, making it an impressive teaching tool for parents to incorporate into their efforts of educating their teens and college students the importance of proper money management. This offer is topped off with a referral system that pays cardholders $25 for every new customer they refer and who signs up for the BuyRIGHT.

These are just a few of the many prepaid credit card offers on the market today. Each one has its own dynamics, but they’re all geared for those looking to rebuild their credit or who are looking to gain the experience that every consumer with a high credit score possesses.

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