SIOUX FALLS, S.D. (7/25/07)--PAYjr, a service provider aimed at helping youth understand money, has launched a customizable, prepaid credit card for teenagers aged 13 or older.
The card is called the PAYjr Visa Buxx Card. It is available through the PAYjr website or through partner banks or credit unions. The card is different from traditional prepaid cards because it allows parents to see what their teens are spending money on (Wireless News July 18).
The Buxx card also is customizable. Teenagers can upload and edit the photos that appear on the card, and PAYjr recently announced a card design contest where teens can enter their cards for a chance to win an Apple Macbook.
David S. Jones, PAYjr CEO, noted that the card is a great way for youth to learn about money management. As the population moves toward a "cashless society," Jones said it's vital for young people to understand how to manage their money.
Though the card will provide an avenue for teens to spend money, the program is not about advocating debt--rather, it's about advocating education, Jones noted.
courtesy of cuna.org
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