Prepaid Visa card made available to Aussie teens
It has been announced that a popular social networking site is now offering prepaid Visa cards to teens in Australia, giving them more freedom when making purchases.
For younger teens in Australia and around the world making purchases of any sort usually involves using cash, and this is because they cannot use tools such as credit cards and debit cards. This makes it difficult for younger consumers to make purchases using popular methods such as online or by phone, which can prove to be very inconvenient.
However, it has recently been announced that a popular social networking site is now offering teens as young as thirteen the chance to benefit from a prepaid Visa card that can be used to make purchases online or by phone as well as in person. The card is being offered via the MySpace networking site, and the maximum balance on the cards will be one thousand dollars. The cost of the cards for those that want them will be $5.95.
Industry officials have said that the cards will prove useful and convenient for consumers aged under eighteen as it will give them far more freedom to everything from make purchases online to topping up their mobile phone credit. The cards, like mobile phones, will have to be loaded with cash to be used, and the cardholder can only spend up to the amount of money that is loaded onto the card so cannot get into debt in the same way as with a regular credit card.
One official said that the card could also teach young Australian teens to be more responsible with money management when they are older. She said: “By the time they’re old enough to own a traditional credit card they will hopefully have the money skills to avoid the debt problems that some people get themselves into. As always though, the onus is on parents to teach their kids how to use the card responsibly.”
Source- News.com.au