Best Debit Cards for Minors – PAYjr Visa Buxx Card For 13 and Older

Many parents are undecided whether it is a good idea to give their kids debit cards or wait till they are older and more mature with the use of money. However, it is definitely a bad credit to give them a credit card as their first bank card, since you run the risk of spending over their credit limit.

While growing up, your children will learn the basics of personal finances from you. It has been established that the financial behavior of parents have a big influence on their chances of debt, insolvency and financial ruin in future. Hence, you will know best whether your child is ready to use a bank card independently.

The main advantage of debit cards, and not credit cards for teens is that only the funds available in the account are available for purchases or ATM withdrawals. That means no money is being loaned to teenagers through these debit cards, and there are no risk of overspending or getting into debts. In a way, it cultivates the habit in young people to avoid exceeding the card limit, since the transaction will be declined. The available funds on these reloadable debit cards for minors can be easily added through the parent’s checking account.

Among many people who have filed for bankruptcy, a common theme can be found. Many of these have parents who never bothered to pay bills on time, default on loans and even have bankruptcy and repossessions. The importance of financial solvency was not taught since their parents are not educated in that aspect as well. It is easier these days to start your kids young on learning to be financially sound in handling money. for a start, there are many free checking accounts for teens and debit cards to choose from.

PAYjr Visa Buxx Card Review

There are many companies that are offering debit cards for minors 13 years and older, such as the PAYjr Visa Buxx Card. The first thing to note is that it is not a credit card for kids, so it will be easier for parents to track and control the spending. If you are looking for a reloadable prepaid card for teens to shop online and avoid carrying cash, the PAYjr Visa Buxx Card is a good choice. Since it is a Visa issued debit card for minors, it is widely accepted at all merchants that can process Visa cards, Interlink cards, and STAR cards for free and easy access to the funds.

PAYjr Visa Buxx Card Fees

You can buy the PAYjr Visa Buxx Card for just $9.95, which is the one-time card enrollment fee. Each fund reload will cost $.50 and the monthly service fee of the PAYjr debit card is currently $4.95. There are no other fees such as card activation fee, postage and handling fee etc. Overall, it is quite a cheap way to let your children learn to manage their own money account compared to other free teen checking accounts.

PAYjr Visa Buxx Card Features

The PAYjr Visa Buxx Card is safer than carrying cash because users are protected with the Visa Zero Liability policy. You do not need to pay for unauthorized purchases when your card is stolen or lost.

You are updated on your Visa Buxx debi card balance and activities through SMS text messaging and email so that you can arrange for a fund top up soon when the balance is running low. If the funds on the PAYjr Buxx debit card is insufficient, the transactions will be declined and there are no bank overdraft fees.

If you like to monitor how your kids are spending their money, you can use the free PAYjr Chore & Allowance Management online system.

There is no contract or minimum holding period for the PAYjr Visa Debit Card. If you find that it is not suitable for your teens, you can cancel it at anytime with no penalty fees.

PAYjr Visa Buxx Card How To Apply

You can only apply for the PAYjr Buxx Card for your kids if you are a parent or guardian. There is no credit check and the teen does not need a bank account either, since you can load the debit card using your own checking account.

Many parents have been shocked by their kids’ credit card statement, when they have never taught personal money management at home. The best way to avoid such mishaps is to train kids from young with a debit card, which is safer since you can easily control the maximum amount of money your kids have access to. This will help them limit their spending activities below the card limit and avoid personal credit problems in future when they have access to a real credit card.

Reloadable debit cards for minors offers a lot of advantages for a small fee. They can learn to use cards for purchases and track their monthly expenses online. It is to prepare them for the future when they have access to personal credit as college students or working adults.

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