This is Facecard’s Teen Debit card. It’s pretty much the same as the regular prepaid debit Facecard, but in this review, we talk more about some of the great parental controls available in the Teen Debit card. A Teen Debit Facecard is a prepaid reloadable card that can be used anywhere MasterCard® is accepted. Like the other Facecard, the teen debit Facecard is a great and inexpensive card.
Here’s the New FaceCard Teen Debit MasterCard
Here’s what we like about the new Facecard Teen Debit MasterCard: The Facecard is one of the lowest cost card options in the marketplace today. We like the words “lowest cost”. But check this out — the card is still packed full of features. Here are a few.
- Instant Guaranteed Approval* – no credit check, no security deposit
- Free Direct Deposit – easy access to your funds
- Free Online Bill pay – no more mailing costly money orders.
- Free Money Transfers to other Facecard members – no more spending money on wire transfers.
- Ability to use anywhere MasterCard debit cards are accepted, including ATMs.
- Receive Prewards, which are like coupons, put directly on your card.
- Apply For This Teen Card Now!
Facecard has also been hard at work on the parental controls available for the teen debit card. In addition to existing tools, parents can now decide just how much control they want over their teen’s finances. Alerts can be set to know when the card has been used (and where), when someone has gifted their teen, or if their teen is below a certain balance.
How We Rated This Card
| Card Features |  |
| Fees |  |
| Disclosure Clarity | |
| BBB Rating | |
| Load Options | |
| Overall Rating | |
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Rating Explanation
We really like the Facecard teen debit MasterCard. If you use the card right, it is flat out one of the cheapest card available. Here's an example -- if you get the card and use it to shop (and don't use it at ATMs), and load it with funds from other Facecards, your total cost each month is... (wait for it).... THREE DOLLARS. You can't beat that. Also, Facecard gives you coupons (they call them "Prewards") which can help you save $10 or more each month (so in theory, you could make money by using this card). Plus, the company behind the Facecard (EDO Interactive) has an excellent ("A-") Better Business Bureau rating. The card does, however, have a few negative points. First, the disclosure is not exactly crystal clear. Next, the card doesn't have as many load options as some people may need (but if you use direct deposit, this card is perfect). Finally, the card has some limitations on use that some folks may not like (for example, there is a $200 daily ATM withdrawal limit, and a maximium balance of $2,500).
Get This Card If:You don't use ATMs, (or use them rarely) and if you don't need a higher daily balance available.
Consider another card if:You need a card that holds more than $2,500 at a time, or if you need to use ATM machines more than several times a month. |
Card Fee Examples
Want to know how much this card might cost you to use in a typical month? We have crunched the numbers for you! We also show how this card stacks 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 Facecard prepaid Teen MasterCard*
| Activation Fee: | $5.00 |
Card Limit: | $2,500 |
| Monthly Fee: | $3.00 |
ATM Withdrawal:** | $1.50 |
| Signature Transactions:*** | |
ATM Balance Inquiry: | $1.50 |
| PIN Transactions:*** | $0.00 |
Bill Payments: | $0.00 |
Notes:
* Fees verified as of 10/14/2009. 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 card in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.
Here are GetDebit’s “Low Fee Tips” for this Card
Facecards are perfect for light to medium use. If you want a card for shopping online, or for paying a few bills each month, this card might be for you. To minimize the fees you incur each month, try these tips.
- Check your balance online, not at an ATM
- Minimize the number of ATM transactions each month (either take out more each time you go to the ATM, or just use your card to make purchases rather than cash).
- Load your card from your bank account or direct deposit -- don't load your card from another debit card or credit card (the fees can add up quickly)
- Even though this is a prepaid card, and overdrafts should be prevented, there are some situations where an overdraft could occur -- make sure not to overdraw your account, otherwise you may get hit wi
Tips for Using The Facecard Prepaid MasterCard for College Students
