Parents can now teach their teenagers the responsibility of managing money with the new credit card from Discover®. The Current by Discover – Teen Prepaid Debit Card offers the perfect opportunity to give your teen the tool needed to make good choices with money. Though the card is managed by parents, teens can instantly see the positive results and negative consequences of not properly or wisely spending money entrusted to them. It is also the perfect way to give your child his or her allowance without your teen needing to carry cash around. The Current by Discover – Teen Prepaid Debit Card is tailored to suit both the needs of teens and their parents.

Discover® has been offering a wide array of credit cards that compliments the many needs and desires of consumers in today’s economy. One of the first to offer cash back credit cards and card for college students, there is now an option for parents who believe their teen is ready for the responsibility that comes with managing a money account. Too many adults enter the world of finance without any real experience with credit. As a society, we go from having no credit to a tremendous amount of spending power – which can be extremely dangerous. Those who end up in this situation often misuse this spending power and later find themselves in debt with credit trouble.

Though the Current by Discover – Teen Prepaid Debit is offered and issued through a credit card company, it is in fact simply a debit card. There are no charges to be paid off at a later date and there is no affect on your teen’s credit report. In addition, the card can be obtained by parents with a less than perfect credit rating. Because there is no financial risk to Discover®, they are able to extend this offer to consumers who may be unable to acquire other credit accounts. Perhaps one of the best features of the Current by Discover – Teen Prepaid Debit is that parents are fully in charge of how the card is used. Much like cell phones made for kids can be monitored and managed from afar, so can this unique prepaid debt card.

Parents have access to the card management center online, and can make instant changes to the account. If their child is out spending unwisely, a simple change in the available shopping categories can put a stop to that. Certain areas of spending, such as gas, movies, groceries, etc., can be limited or disallowed altogether. If you want to give your teen money to spend only on the necessities such as gas to get to school, you can do that. However, if you want to enable your teen full access to the spending power that a credit card offers, you can do that too. Because the Current by Discover – Teen Prepaid Debit can be used to access cash from ATM’s, your teen can be sure to have when he or she needs in case of emergencies.

This prepaid card also has many benefits for parents. There is no cost to transfer money into the account via direct deposit, online transfer or by credit card. The account maintenance fees are minimal. With the Current by Discover – Teen Prepaid Debit, your teen’s first four ATM withdrawals per month are free, and only $.50 thereafter. Discover® has even taken into consideration that teens can tend to lose or misplace things – the replacement card fee is merely $5, and the account is also protected from fraudulent use and charges. Apply for a card today.