MySpace Offers Pre-Paid Visa Card

MySpace has given teenagers (under 18s) a chance to spend their money safely with the help of their newly launched MySpace Recharge Prepaid VISA card. This is great news for parents as it gives them peace of mind knowing their kids are using money allocated to buy stuff online.

The card provided by ANZ has been launched after research has shown parents were looking for convenient and simple and secure alternatives to using cash for teenagers. Spokesperson for ANZ John Harries said: “This card aims to deliver this in a responsible manner because it is pre-loaded and uses people’s own money.”

“You don’t have to be an ANZ customer to take advantage of this handy new card because the MySpace Recharge card is not linked to a deposit account.”

Any teenager between the age of 13 and 18 years old can buy one of these MySpace Prepaid VISA cards for a low $5.95. The cards can be loaded with a maximum of $1,000. Once the balance is $0, the card can be reloaded up to the maximum amount whenever suitable.

Nick Love a spokesman for MySpace said: “(They can) spend their own money on items such as concert tickets and clothes.”

Teens can also use the card to buy prepaid phone credit through the site.

Family finance expert and author Justine Davies even went as far as stating that this card could help parents teach their kids about responsible credit card spending and we agree. She said:

“By the time they’re old enough to own a traditional credit card they will hopefully have the money skills to avoid the debt problems that some people get themselves into. As always though, the onus is on parents to teach their kids how to use the card responsibly.”

MySpace is certainly onto a good thing there in conjunction with ANZ for offering the Pre-Paid VISA Card. It is a gap in the market that can – and should be – utilised more by other credit card providers.

Source: The Australian

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