College Parents of America, a not-for-profit organization dedicated to helping parents prepare for and put their children through college, has teamed with Debix Systems, a technology provider, to offer a credit card that is a dream come true for students and parents alike.
The College Parents of America Card offers an alternative to traditional credit and debit cards that makes sense for everyone. Parents fund the credit card, which is a MasterCard, with the amount of money they want to make available to the child, and the child may use the card wherever MasterCard is accepted. In addition to store use, the card may be used to withdraw cash at ATM machines.
The child may only spend the amount of money available in the card account. The parents control the amount of money available to the child by making deposits or fund transfers, and fund transfers may be performed on the Internet. What could be easier?
Referred to as a "credit card with training wheels," the card provides parents with the ability to control spending while the child learns how to use a credit card. Applications for the credit card are available at this Web site and more information can be obtained at the Web site of College Parents of America or by calling College Parents of America at 202-661-2170.