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Teens Okay (9/1/00)
FULL STORY:
Teenagers spend prudently and are not cash-crazy when it comes to using
payment cards. The average purchase made on prepaid teen cards is $23.88
compared to an average purchase transaction of $80.84 made on bank credit cards
and $30.72 made on debit cards. Prepaid teen cards are also re-loaded once
every 1.02 months with the unspent balance on each card averaging $21.00. The
findings come from fifteen months of tracking the performance of 10,000
PocketCard users. The PocketCard is a parent-sponsored prepaid VISA debit card.
Under the card program, teenagers have use of a VISA card for POS and ATM while
parents monitor card use via email or online. PocketCard also found that 84% of
parents allow their teens ATM access with the PocketCard VISA, however, teens
on average only withdrew money from ATM machine once every two months.
PocketCard says learning to spend wisely with a debit card as a teen will
prevent the credit card debt that plagues hundreds of thousands of young
adults. For more information visit
www.pocketcard.com.
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