An Easy Way for College Students to Use Credit Cards
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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.