[deleted]
We signed our son up for one of these teen cards. We would load the card with cash and teach him how to budget his money. After about three months they raised their fees, added penalties for having an unused balance and a load of other nickel and dime bullshit. They ended up keeping a percentage of his money until we simply quit using their services. Many of these programs seem like a good idea at first then they take you to the cleaners on the back end. I’m not saying this is the case with this card, all I’m saying is do your due diligence before trusting them with your money/credit.
autotldr@lemmings.world [bot] 1 year ago
This is the best summary I could come up with:
Greenlight Financial Technology has long provided financial education and debit cards to its child and teen customers since 2014; however, today the company launched the Greenlight Family Cash Mastercard to help those same customers build their credit before they reach adulthood.
Teens can track their credit card balances on the Greenlight app while parents can set up flexible spending limits and get real-time purchase alerts.
In addition, the company’s in-app financial literacy game Level Up now includes credit lessons to aid teens as they use the card.
The credit card is the newest offering for the company, which last December introduced a free web-based financial literacy library aligned with the K-12 national standards for schools, teachers and students.
In January, the company confirmed that it laid off around 21% of its employees, with Sheehan saying the decision at that time was a “preemptive move” driven by the macroeconomic environment.
Up next, the company’s teacher’s guide combined with Level Up, called Greenlight in the Classroom, was rolled out in Georgia and will go nationwide in the fall.
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