Is it a good idea to give my son a pre-paid credit card?
My son, who is 11 has asked me to put his weekly allowance on a pre-paid master card. The ones that are like gift cards, but with the master card logo on it that's accepted anywhere master card is.He has told me several reasons why it is a good idea, I can set it up for automatic deposit, I can check his balance and transactions online, I can suspend the card, and it's more secure then cash.He also says that he is responsible enough to not lose it.Other them him buying things on line that I don't approve of, but I'd find out from his trasactions, is there anything else I should be concerned about?He's a good kid and works hard for his allowance. What else should I consider?
|