Discover has a new card called the Current Card, which is meant to be a pre-paid debit card for teens. Types of cards like this provide some peace of mind for parents, especially with kids far away at college who are spending money on god knows what. While I dealt with all cash in college, I knew other kids who had debit cards, but at that time, there wasn't the degree of oversight, tracking and parental controls that exist with this card. While it introduces some benefits for parents, it could come at the expense of frustration or a perception of a lack of trust from your kid. Here are some of the benefits as outlined by Current by Discover:

Current by Discover - Teen Prepaid Debit Card Debit Card for Teens with built-in parental controls

• Set daily, weekly, and monthly spending limits
  
• Restrict teen card use in unwanted shopping categories (e.g. liquor stores, tobacco stores, hotels, etc.)
  
• Free Direct Deposit for parents & teens
  
• Free deposits from any credit card or bank account
  
• $0 fraud liability guarantee
  
• Withdraw cash at ATMs
  
• Get exclusive discounts at teen's favorite merchants
  
• Free e-mail and text message activity alerts
  
• No minimum balances, loading fees, or credit check

Is it OK to Spy on your Kids?

Personally, I feel that if you're paying the kid's way, they're kind of at the mercy of your discretion and oversight. If they don't like it, they could always try and do it on their own, and they'd be back tomorrow for the deal you're offering. However, since honesty's the best policy and even kids on your bill should have the luxury of some level of privacy, I'd recommend telling your child just what it is you can check and what you will check. Even if you don't intend on checking on them and never do, the notification will likely have its intended effect.

This is no different than telling our kids when they grow up that while they may have a cell phone or a computer in the kitchen, it's at our discretion to check calls, texts, browser history, etc. This a) puts them on alert that they shouldn't be sexting or doing whatever ridiculous behavior will be "in" at the time while b) engendering trust and respect that we at least had the discretion to notify them that we may/would be checking these things as opposed to just sneaking and spying like a lot of parents do (which makes it all the more difficult to confront a tough situation when your child will feel betrayed that you were reading a diary, spying on them, etc).

Here's a link for the Current by Discover - the perfect card for Teens!


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