Whether you’re a teenager looking for some financial independence and responsibility, or a parent wanting security, flexibility and peace of mind, the BillMyParents Teen MasterCard could be the card for you! Teen’s can’t spend more than their prepaid balance. It’s simple: parents just load the card, teens do the shopping and BOTH track the spending with text and email alerts! The card has fantastic features needed to help create good financial management skills and its fees are some of the lowest in the industry!
BillMyParents Reloadable Prepaid MasterCard
The BillMyParents Reloadable MasterCard gives teens the ability to make retail or online purchases, get cash and build their budgeting skills, while letting parents unobtrusively track and manage their child’s spending activities. Your teen can’t spend more than the prepaid balance. It’s simple, you just load the card, they do the shopping and you BOTH track the spending! And with the security and flexibility of the MasterCard network, your teen can spend almost anywhere. And the fees are some of the lowest in the industry!
Take a look at some of the features and benefits offered by the BillMyParents reloadable prepaid MasterCard:
- Get your teen started on the path to smart spending today.
- Easily set strict spending limits.
- Lock/Unlock Your Teen\’s Card with a Simple Text
- Monitor Purchase Alerts in Real-Time on Your Mobile Phone
- Family or Friends Can Reload Funds
- No Credit Risks or Overdraft Fees
- Safer than cash with lost card protection
- Use anywhere debit MasterCard is accepted.
Apply Now!
How We Rated the BillMyParents Teen Spend Smart MasterCard
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Rating Explanation
BillMyParents Teen Spend Smart MasterCard
5
GetDebit.com Editor
The BillMyParents Teen prepaid spend smart MasterCard gets some of our highest scores for it's features (it has it all -- great graphic designs, excellent parental controls and low fees). There is also a 30 day FREE TRIAL link on the website encouraging new customers to get the card with NO ACTIVATION FEE! The prepaid card lacks options in the load category as it appears you can only load from a bank account or credit card although that may be the best for parental control. Socialwize, the Program Manger of the BillMyParents prepaid card has a great BBB rating (which shows that they are serious about dealing with consumer issues). Perhaps more importantly, the fees associated with the BillMyParents Teen card are among the lowest out there. With normal use, a BillMyParents card should be much less expensive than an introductory checking account at a major bank. Plus, the parental and spending controls make this a perfect card for parents who want their teens to have some (but not complete) freedom.
The BillMyParents Teen prepaid spend smart MasterCard gets some of our highest scores for it's features (it has it all -- great graphic designs, excellent parental controls and low fees). There is also a 30 day FREE TRIAL link on the website encouraging new customers to get the card with NO ACTIVATION FEE! The prepaid card lacks options in the load category as it appears you can only load from a bank account or credit card although that may be the best for parental control. Socialwize, the Program Manger of the BillMyParents prepaid card has a great BBB rating (which shows that they are serious about dealing with consumer issues). Perhaps more importantly, the fees associated with the BillMyParents Teen card are among the lowest out there. With normal use, a BillMyParents card should be much less expensive than an introductory checking account at a major bank. Plus, the parental and spending controls make this a perfect card for parents who want their teens to have some (but not complete) freedom. |
BillMyParents Teen Spend Smart MasterCard Fee Examples
Want to know how much the BillMyParents Teen Spend Smart MasterCard might cost you to use in a typical month? We have crunched the numbers for you! We also show how BillMyParents Teen Spend Smart MasterCardstacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).
To see different scenarios, change the following variables.
Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.
Fees Associated With The BillMyParents Teen Spend Smart MasterCard*
| Activation Fee: | $0.00 |
Card Limit: | $5000 |
| Monthly Fee: | $3.95 |
ATM Withdrawal:** | $1.50 |
| Signature Transactions:*** | $0.00 |
ATM Balance Inquiry: | $0.50 |
| PIN Transactions:*** | $0.00 |
Bill Payments: | $0.00 |
Notes:
* Fees verified as of 10/24/2011. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your BillMyParents Teen Spend Smart MasterCard in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.
BillMyParents Teen Spend Smart MasterCard Card Options
One of the first orders of business is for you to pick a card design. There are several graphic designs to choose from. Here are a few of them:
Here are GetDebit’s “Low Fee Tips” for this Card
BillMyParents MasterCard, as with many prepaid cards, have fees that can be avoided with careful use.
Tips for Using The BillMyParents Reloadable Spend Smart MasterCard
