Current Debit Card for Teens

Discover is now offering the “Current”, a new kind of debit card for teens that allows parents to set spending limits and even to place blocks on spending in specific shopping categories. The card either can be loaded directly from a bank account manually or via scheduled monthly automatic transfers and emergency transfers can be made instantly whenever needed.

Info for Parents

For a monthly fee of $5, parents are able to provide their children with a cash-free method for making purchases. They can set daily, weekly or monthly spending restrictions and can make it impossible for their children to spend the money on purchases that are not approved by their guardians.

In addition, the Current card is designed to teach children about wise spending habits and tutorials are made available to teens on topics such as budgeting, saving and smart spending. The Current card can in no way adversely affect the credit of either parents or teens and is therefore a safe way to learn about credit card spending.

Info for Teens

It is usually very difficult for teens to obtain a credit card but the Discover Current card makes it possible. Money can be transferred from parents’ bank accounts or can even be directly deposited, if the teen has a job. In addition, if the card is accidentally lost a hold can be placed on the card until it can be replaced, which means that all of the funds stored on the card are safe from theft. Teens can earn discounts at various restaurants and stores through continued use and they can choose their card design from among seven different options.