STLmom23

I stumbled across this, and I think it's worth passing on.

If you get a Target RED card (I'm sure other stores have similar promotions, this just happens to be what I found), not only do you get 5% off, you also get free shipping on any size order.

Better yet, your kid can go online and customize a "Target list" of his or her favorite products. And as supplies run low over the course of the semester, you can click on what is needed, and the items will be shipped. Presto!

This seems super handy, especially for boarders who will not be traveling home much during the semester.

GMTplus7

A good alternative to a credit card for a teen, especially for one who has to fly w/o an adult, is a pre-paid debit card:
Support Prepaid FAQs | MasterCard

DeerfieldDad

@STLmom23 - That is a terrific idea, thank you.

Here is the link explaining details:

Target : REDcards : Target Rewards

Alexz825Mom

I have found that "kids of today" use the internet to do most things. My d seldom goes to the store even, for basic stuff. She typically goes to malls, etc to hang out more than shop.

My d is at DA, thus realllllllllll rural. Not much in walking distance. (Understand, this was her first choice and knew is was so different that what she had become a norm. We live in Chicago).

I recommend a "high school" checking account. Most major banks offer this with overdraft protection. I am able to monitor "my" money and her spending trends. There are no "checks" but I can deposits.

It has works for us.

ExieMITAlum

We did debit Mastercard. Which also served us well when she spent a year abroad. We could monitor the account to see how and where it was being used and add more as needed. Most students like leaving campus to go on the hunt (mall or other) with friends for things they need.

On drop-off day, I and the roommate's parents did a "needs assessment" after surveying the dorm room, then ran to the local stores (Target, Marshalls, Macy's etc) to top off their rooms and get them started.

Also used Amazon Prime - which allowed us to send food, surprises and necessities within 2 days.

Sunnylake

We did the American Express PASS card- a debit-style card, NO FEES!!!!, made for teens- Same online/text notification of the account status and monitoring features. Parents do not need an AmEx card, as it can be linked to bank account for on-line loading as needed. Love that it is free.

ChoatieMom

We started with the PASS card, but then realized AMEX would issue him his own card on our account, so he now uses that when necessary. Students use their ChoateCard accounts for on-campus purchases (bookstore, snack shop, transport to-from school, etc.) which we refill as needed, and we have an Amazon Prime account for things we want to send him. Mostly, though, the kids just walk to Wal-Mart or order online for the things they need.

pcotten

I am not sure how secure these debit cards are. We tried on from Wachovia before they shutdown the product. It was a debit card which I could fund as needed. When it was used, it required no pin, etc. It was used just like a credit card. Swipe and go. What if the card is lost and unauthorized charges are made?

ChoatieMom

You need to understand the rules for lost cards/unauthorized charges set by the issuer for whatever card you supply your student with. I'm sure the rules would be no different than if the parent lost his/her card. Most credit card companies will cancel the card as soon as you call and put any unauthorized charges in dispute while they are being investigated. Usually, the location/purchase/signature used on the fraudulent charges is enough to verify that they are not yours, and you are not liable.

Debit cards are riskier because cash is removed directly from the account without signature, and banks are much harder to deal with in these cases as proof of fraud is harder. But, again, the same rules apply to your student as they would to you if you lost your card. The best defense is notifying the issuer speedily but, sometimes, you may not realize the card is lost/stolen for a while, and that's when damage can happen.

Check to see if your child's school has their own campus card account that you can fund and your child can use for campus purchases or cash withdrawals--it's safer than a bank card as it's hard for one student to pretend to be another in these small communities.

travelreader1

I used a website called soap.com. They have everything from food, to laundry detergent, to stuff like shampoo and makeup. I paid for it using a credit card (VISA) that was linked to my parents' account (and I checked with them before I bought/ordered ANYTHING). The site is super easy to use and I think orders over $39 get free shipping and the package arrives 1-2 days after you place an order.

As for getting cash out, my parents put money in my account at the school and I would go withdraw cash as needed. Most schools also allow you to set a limit on how much can be taken out per week.

MDMomofTwo

By all means keep a debit card loaded. But we also set our daughter up with an Amazon account ( credit card saved). You can literally buy anything food, supplies etc from Amazon. She used it extensively. Hope this helps!

2prepMom

We also liked Amazon. Our shared account is password protected, child cannot see credit card numbers, I get e-mails containing details on each order, shipping is 2 day free, and my daughter and I agreed on previewing orders over 30 dollars. There is not much that cannot be found on Amazon that she needs, including good deals on printer ink.

We did not find pre-loaded debit cards useful. Most importantly, airlines do not take them for baggage fees (found out the hard way, yep); they can be very hard to figure out what is left on them if you lose the password as child does (trying to buy candy by the piece to use the card balance gets old fast) Amex takes a percentage off the prepaid card each month. They are free to get but cost you in the end.

For day to day little things we opened a bank account with a small amount, and she has an ATM/"credit" card from it to use for cash or small local purchases like ice cream.

alooknac

This thread has more info about credit card/debit card options:
Credit Card for Student for Emergency/Unexpected Expenses?