Kids debit cards are commonly approved of by parents because such cards are safer than carrying around liquid cash. What’s more, many cards offering a kids debit card will cover any fraudulent charges that are put on the card if the kids’s card is lost or stolen; this gives the kids some protections against losing cash. The cards can be disabled whenever a kids reports that the card has been stolen or lost. New cards can then be issued and activated so that the kids once again has access to the card balance. Many parents might at first worry that giving a kids with a Visa® or MasterCard® or Discover® logo that it will have some kind of influence on the child’s credit. This is not the case; the cards are debit cards only and do not play a role on a kid’s credit score.
Parents can put a cap on kids spending when they offer a kids a debit card with a set balance on it. Parents can, with some debit cards, even control what the monies are spent on by establishing restrictions on the card. For example, some cards can be set so that they cannot be used to pay for cigarettes or alcohol. What’s more, parents can even monitor what a child is buying via a online account which can notify parents via text messages or email when a purchase is made. Parents looking to supply a kids with funds can do so via direct deposit methods, via money transfer from a savings account or by adding funds drawn from a checking account.
There are no credit checks needed to get a kids a free kids debit card that you can add funds too. You simply sign up for the card and start adding funds. A kids can then begin using a kids debit card to learn how to manage money and how to correctly control spending behaviors.
