AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Don't leave homeroom without it?(reloadable prepayed credit cards for teens)

Consumer Reports

| January 01, 2001 | COPYRIGHT 2001 Consumers Union of the United States, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

For parents tired of listening to their teens' piteous (and frequent) imprecations for cash, four companies have introduced reloadable payment cards for kids 13 to 17 that look and behave almost like grown-up credit cards. There are no interest charges, but some have grown-up fees.

CobaltCard, www.cobaltcard.com, is backed by American Express.VisaBuxx, www .visabuxx.com; PocketCard, www.pocketcard .com; and M2Card, www.m2card.com, are affiliated with Visa. The cards come with spending maximums set by adults. Parents transfer money from their own checking account or credit card to a teen's card either through a web site or voice-response phone line. The youngster can use the card wherever American Express or Visa cards are accepted, online or off. When the spending limit is reached, kids can't spend more. An exception: If a merchant doesn't ask for authorization for purchases under a certain amount, your kid could run up charges that exceed the limit of the card. A parent would have to make good on the amount.

In the case of lost or stolen cards, all issuers say teens aren't held responsible for the money if they report the loss ...

Related articles from newspapers, magazines, journals, and more
Banco Santander Puerto Rico Issues American Express-Branded Credit Cards; New...
Press release article from: PR Newswire October 24, 2000 700+ words
...the Banco Santander American Express Credit Cards represents yet another...The Banco Santander American Express Credit Cards carry a wide variety...The Banco Santander American Express Credit Cards bring outstanding new...
Bank of Hawaii Signs Deal with MBNA to Offer American Express and Visa(R)...
Press release article from: Business Wire January 22, 2006 700+ words
...will offer Visa and American Express credit cards to consumers and Visa credit cards to businesses. Bank...introducing the new credit cards in the third quarter...will now offer both an American Express and a Visa credit card...
MBNA to Issue American Express Credit Cards in U.S.
News wire article from: The America's Intelligence Wire January 30, 2004 700+ words
...will be pushing American Express cards. Carrie...which will offer American Express credit cards, marking the first...Visa or MasterCard credit cards will promote cards...will carry the American Express logo and be accepted...
MBNA rolls out American Express-branded credit cards.
News wire article from: The America's Intelligence Wire November 5, 2004 700+ words
...first round of co-branded American Express credit cards through a network of 1...35 in early trading. American Express gained 5 cents to $54...the way for MBNA to issue American Express cards in a ruling against...
American Express and MBNA Announce Card Issuing Alliance; MBNA to be First U.S....
Press release article from: PR Newswire January 29, 2004 700+ words
...will issue its own American Express-branded credit cards in the United States...plans for MBNA to issue American Express-branded credit cards in Canada, Spain...cards will carry the American Express logo and will be accepted...
Worcester Man Sentenced to 2 Years in Prison for Producing Counterfeit American...
Press release article from: PR Newswire April 6, 1999 700+ words
...trafficking in counterfeit American Express Delta Sky Miles credit cards. Also, the court ordered...000 in restitution to American Express and barred NUNEZ from reentering...produce realistic looking credit cards, which pose a significant...
UPDATE 1-MBNA rolls out American Express-branded credit cards.
News wire article from: The America's Intelligence Wire November 5, 2004 700+ words
...first round of co-branded American Express credit cards through a network of 1...33 in early trading. American Express fell 16 cents to $54...the way for MBNA to issue American Express cards in a ruling against...
UPDATE 2-MBNA rolls out American Express-branded credit cards.
News wire article from: The America's Intelligence Wire November 5, 2004 700+ words
...first round of co-branded American Express credit cards through a network of 1...3 percent at $27.49. American Express added 0.3 percent to...the way for MBNA to issue American Express cards in a ruling against...
MBNA Issues New American Express-branded Credit Cards for More than 1,000...
Press release article from: PR Newswire November 5, 2004 700+ words
...Relationships MBNA and American Express today announced the launch...first MBNA Affinity Rewards American Express- branded credit cards to members of more than...benefits and privileges of the American Express network, with its own...
Banking & Finance: Vietcombank Issues American Express Credit Cards.
News wire article from: Asia Africa Intelligence Wire March 18, 2003 700+ words
...Vietnam (Vietcombank) will today begin issuing credit cards from the giant American Express (Amex) company, under a deal signed between...executive. The bank expects that the Amex credit cards will bring total payment value of $30 million...
For more facts and information, see all results
©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA