The Consumers Credit Union Student Choice VISA credit card is a student credit card designed for parents to teach their children the proper use of credit cards. The card is available to parents of 13 to 21 year olds.
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Consumers Credit Union Student Choice Visa Account Structure
The Consumers Credit Union Student Choice Visa card is a straightforward credit card with no perks, no cash back, and no gimmicks. It does have a spending limit that is determined by both the loan officer and the parent. Limits start at $250.
The child’s name is imprinted on the front of the card as an authorized user. However, the authorized user is not reported to any credit agency, though the parent can request for Consumers Credit Union to do so once the child is 18. The parent must also be on the account. The student receives a monthly statement and can retrieve account information at anytime via the Consumers Credit Union website.
The account is designed for parents to teach their young adults financial responsibility, including how to manage a credit card. This skill is essential for college students according to the College Board. Credit cards are a part of life and the proper use of them is an important skill. A starter credit card like this in use while the child is still at home is a good start.
The card receives the same zero liability promise all Visas enjoy if it is lost or stolen.
Consumers Credit Union Student Choice Parental Controls
The Consumers Credit Union Student Choice Visa can only be applied for by the student’s parent or guardian who must remain on the account with full access to all financial information. The parent is the only person who is allowed to request an increase in the spending limit. So there will never be any surprise credit increases.
This also means that ultimately the parent is responsible for the payment of the account as well. However, Consumers Credit Union representatives are available to assist the parent or student with the account and answer any questions regarding the Student Choice Visa.
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