Which is better to get a teenager for emergencies- a debit card or a credit card?

We’ve reviewed all of the best teen and student debit cards for you. First, let’s figure out why you may want to get a teen or student debit card. These types of cards are relatively new to the market.

Teen and student debit cards are typically Visa, MasterCard, American Express or Discover cards that can be used anywhere these card brands are accepted. The key feature of a teen or student debit card is that parents can control how and where the cards are used, as well as monitor how their teens use the cards. Parents set up the card, load money onto the card, and set up whatever parental controls are needed to make sure their teens use the cards responsibly.

These cards are a great financial education tool as the cards help your teen learn budgeting through managing the prepaid amount on the card. Most teen and student debit cards have parental control with online tracking of purchases and spending limits, making it easy to address financial responsibility. These debit cards are safer than cash because if it’s lost or stolen, you are protected.

You’ll pay nothing for unauthorized purchases. They provide peace of mind in case of emergencies, while your teen is traveling, away at school, or for everyday errands. These cards are a convenient alternative to running to the ATM every time your teen or student needs money.

Teens and Students Love Them Too! A student debit card gives your teen or college age student (or teen away from home at camp, boarding school, or just around town) the independence to make responsible purchases without having to borrow a credit card or carry lots of cash. The cards are flexible.

Teens and students can use them almost anywhere (depending on how the parent sets up the controls). Teens like that these cards are smarter than cash because they allow teens to learn about financial responsibility and managing their own budget. Students love the security they provide — only your teen can use the card, and online account information is password protected.

Your teen will always get the gift he or she wants — give the gift of cash by authorizing family or friends to put money on the teen card. It’s faster and safer than mailing a check or giving cash.