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Fam Zoo charges a very small monthly fee, and longer plans are discounted.As your child demonstrates good purchasing behavior, the next step is to teach how to use (and pay off) credit.One of the best prepaid debit cards for teens is from Fam Zoo—a company dedicated to making fun financial education products for families.Both you and your teen will get a prepaid debit card.You’ll have access to Fam Zoo’s complete line of budgeting, savings, and other financial training-wheel tools.
A recent Credit Sesame survey revealed that nine out of 10 parents talk to their kids about other money topics.
Learning about credit isn’t as hard as studying for the SAT.
Still, there is some basic terminology you should go over with your teen: .
The biggest advantage is that the account will help your teen establish a credit file and build a healthy credit score.
The data associated with the account will appear in your file and in your teen’s file.