Kids love get pre-paid Visa or MasterCard gift cards – maybe it’s the fact that the store teller needs their signature when they make each purchase or maybe it’s just the world of self-buying these little cards open up that leads to gitty “yes’s!!” each time our kids receive these pre-paid credit cards gems from family and friends.  After a few rounds of birthday’s and Christmas presents, I’ve decided to round up my top 5 list of tips to help your kids spend their pre-paid credit cards wisely:

  1. Research what the kids are going to buy before heading to a store.  Kids will fall into a daze trying to figure out what they can buy with the credit available – trust me on this one.

  2. Bring a permanent marker to write on the card what’s left to keep track of the dollar remaining on the card after each purchase.

  3. Spend it quick.  The cards depreciate over time, about 2.5% a month or so, but it varies.  Check the back of your credit card for the fine print.

  4. Geographic limitations may be imposed on the card so it’s only valid in the country the vanilla credit card was purchased, so don’t plan on travelling with the card.

  5. As easy as is to spend, it’s even easier for the kids to lose these darn cards – so keep them in your wallet for safe keeping.