Prepaid Visa vs Debit Card AND Magicband question

[littlezar]

My 15 yr old is going to Disney with his Marching Band. I am going at the same time with my 10 yr old but have already told him that he's with the band and the only time we will intentionally see him is when they march down Main Street. (They are also visiting Universal but we are just doing Disney)

Question 1: Am I better off opening a checking account for him at our credit union and having him use a debit card for any purchases OR is it better to just get a prepaid Visa? Neither one has any fees attached. I can't come up with anything that makes me lean one way or the other since either can be swiped/signature or have to use a PIN.

Question 2: I am staying at Shades of Green, he is staying off property. I know there's no real need for us to have magicbands but I want to do memory maker and figure that's the easiest way for him to get pics and not have to think about it. Does he need to create his own MDE and connect with me since we are staying at different places and have different tickets?

 

[Albort]

Have u considered adding your 15yr old and 10 yr old to a credit card? Your funds are protected if its stolen/illegally swiped, and it also helps build their credit so that when they reach 18, they would have good credit.

 

[Alesia]

Have u considered adding your 15yr old and 10 yr old to a credit card? Your funds are protected if its stolen/illegally swiped, and it also helps build their credit so that when they reach 18, they would have good credit.

I think this is the smartest plan.

I never, ever use a debit card. I used to, but then my card number was stolen and they wiped out my entire checking account. It took weeks to get sorted out and in the meantime, I had no access to the money in my account.

 

[littlezar]

My 10 yr old will be with me the entire time - definitely not adding him to my credit card! Currently have my 21 yr old on one of my cards, 19 yr old is still living at home/going to community college so wasn't going to add him to a card until spring when he's made a decision on where he'll transfer to. The only thing the 15 yr old has to pay for is snacks & souvenirs. Travel, food, room are all covered. I didn't even think about the card/pin number being stolen and that just happened to my sister earlier this year.

 

[mi*vida*loca]

I would add him to my credit card. That's my plan when my son goes on his senior trip.

 

[SharonZ]

Why can't you just add him to your credit card as an authorized user and then cancel his card after the trip? Honestly, I wouldn't go through the hassle of a pre-paid credit card or opening up a checking account so he has his own debit card.

 

[Albort]

Why can't you just add him to your credit card as an authorized user and then cancel his card after the trip? Honestly, I wouldn't go through the hassle of a pre-paid credit card or opening up a checking account so he has his own debit card.

or take it back when its not needed and secure it somewhere else until it is needed.
It will also add Age of Account to his credit report sometimes too. The longer the Age of Account, the better his credit will be!

 

[littlezar]

I guess it never occurred to me to give my 15 yr old a credit card off of my account. Makes sense to add him to the Disney Visa so he can get the Darth Vader card, LOL!

 

[DISbot]

Credit card makes the most sense to me. The only thing it changes is a limit on his spending. With the debit or pre-paid he will have exactly what he gets and nothing more, with the credit card, he can keep charging. I would think it depends on the child at that point, and if "you have $X in spending money" would translate to "I have to track how much I spend, otherwise I'll be mowing lawns to pay mom back" or not.

Given the Debit vs. Prepaid, the only real sway there would be that with a Debit card you could theoretically transfer over more funds if he had a situation/emergency - I'm not sure that you can do that with a pre-paid. But, it sounds like you aren't concerned about that aspect, so they're probably equal in choice.

 

[Alesia]

I wouldn't go with prepaid cards because they can be a pain to use in restaurants. The credit card machines in restaurants put a hold on the card that is the cost of the meal + 20%, so you always have to keep in mind that if you have $20 left on a card, you can't use it to purchase a meal that costs $20 - the card will be declined for any purchase over 16.65.