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Current by Discover Prepaid Debit Card for Teens with Parental Controls

Posted on April 29, 2009

The Current by Discover Card is a prepaid credit card for teenagers that allows parents to set a budget and monitor their teenager’s spending.

Parents can easily add funds to the Current by Discover prepaid card for free, plus parents can set spending limits and restrict unwanted shopping categories from teenagers.

Teenagers get a safe way to spend money without carrying cash, including the option to withdraw money from ATMs, plus the Current prepaid card comes in 7 unique card designs that are some of the coolest credit cards around.

Who is the Current Card for?

The Current prepaid debit card from Discover is designed for ages 13 and up, and it’s perfect for college students as well.

Parents can add up to 3 prepaid Current cards to their parental account, so the Current by Discover Card is a great option to monitor all of your children’s spending with a single account.

How Do You Apply for the Current Card?

Parents can apply online for the Current by Discover card for up to 3 teens per account.

Since this is a prepaid credit card, there are no credit checks to open an account, so anyone can qualify for the Current card from Discover.

There are no ongoing minimum balance requirements, but at least $20 must be added to the card at the time of account opening using a major credit card or debit card.

How Long Does It Take to Receive My Current Card?

Once your account has been approved, you should receive your Current by Discover Card in 7 to 10 business days.

You can activate your Current card online or by phone as soon as it arrives and start using it everywhere Discover Card is accepted.

How Much Does the Current Card Cost?

The Current prepaid credit card does have a monthly fee of $5 per card, but parents do not receive a card, so this fee is strictly for teen cardholders.

You can also save $10 per card if you pay for an annual membership at a cost of $50 for the entire year.

The first 4 ATM transactions each month for each card are free, and each additional ATM transaction incurs a $0.50 fee, not including any ATM owner fees.

The Current prepaid card has no minimum balance requirements and no loading fees to deposit funds into the debit card account.

There are no inactivity fees, and online statements are free.

There is a $3 card replacement fee, and there is a $5 fee to receive copies of statements by mail.

How Do You Add Money to the Current Card?

Parents can set up recurring deposits to the Current prepaid card from any major credit card, checking or savings account, or via direct deposit, plus parents have the option to make one-time transfers to the Current prepaid card as needed.

Teenagers can also set up a direct deposit to the Current prepaid card from their own paychecks.

The maximum balance that can be loaded on a single teen card is $2,500, and parents can have a deposit of up to $2,500 per card on their account for up to 3 cards per parental account.

How Does the Current Card Monitor Spending?

Parents can set spending limits by restricting single purchases over a certain amount or by setting daily, weekly, and monthly spending limits.

Parents can transfer funds from the parental account to their teen’s card online or via telephone, and teens can also request funds from their parents when needed.

Parents and teens can monitor purchases and other account activities via email or text message alerts.

Parents can also restrict shopping categories from their teenagers, such as tobacco stores, liquor stores, hotels, and other categories as well as ATMs.

In addition, the Current debit card can be disabled with ease in the event that it is lost or stolen and then simply enabled again when it is found, or you can call customer service to get a new card for a $3 card replacement fee.

Does the Current Card Provide an Online Account?

Parents and teens can access account information online with the ability to sort statements by transaction amount, merchant name, category, and date.

You can view current and past statements, upcoming transfers, and even pay bills online with the Current by Discover card.

Parents and teens can check the balance on their card online at any time or call 866-99-CURRENT (866-992-8773) to check their account balance.

Parents and teens can also set notification preferences to receive email and text message alerts regarding account activities.

Where Can the Current Card Be Used?

The Discover Current prepaid card can be used at stores, restaurants, online, for telephone orders, or anywhere else that Discover Cards are accepted, plus it can be used to withdraw money from ATMs, but parents do have the option to restrict spending categories from their teenagers.

Where Can You Get Current Card Discounts?

The Current card gives teens access to exclusive discounts at thousands of restaurants and stores nationwide.

Teens can get printable coupons and online discounts from their favorite stores and online retailers including Target.com, Domino’s Pizza, AMC Theatres, AMF Bowling, Sports Authority, and many other merchant discounts.

Current by Discover

* Debit Card for Teens with built-in parental controls
* Set daily, weekly, and monthly spending limits
* Restrict teen card use in unwanted shopping categories (e.g. liquor stores, tobacco stores, hotels, etc.)
* Free Direct Deposit for parents & teens
* Free deposits from any credit card or bank account
* $0 fraud liability guarantee
* Withdraw cash at ATMs
* Get exclusive discounts at teen’s favorite merchants
* Free e-mail and text message activity alerts
* No minimum balances, loading fees, or credit check

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