New Way Parents Can Dole Out Allowances

American Express now has a new card–PASS is a prepaid card that parents can give their kids to prepare them to handle credit cards later.

PASS is not a debit or credit card, but a re-loadable card. As such, teens can only spend the amount loaded and there’s no worry about overdraft charges. If it’s lost or stolen, you won’t be responsible for fraudulent charges, and American Express can replace the funds. Plus, teens can view balances and purchases online.

To learn more, check it out here.<a href=”“>