Discover Financial Services has announced the launch of CurrentSM by Discover® Card, an innovative debit card for teens that helps them track and manage their spending and keep their money safe. The card also helps parents foster financial responsibility in teens, which is especially critical in today’s economy.  Unlike cash, the Current Card gives teens a better way to track and manage their spending while developing smart money management skills. The Current Card model eliminates the risk of overdraft fees and helps protect teens from going into debt since they can’t spend more than the amount on the card. Teens can choose from seven unique card designs and receive valuable members-only in-store coupons and online discounts at hundreds of popular merchants. As with all Discover Card products, Current Card’s $0 fraud liability means money is protected from unauthorized transactions if the card is ever lost or stolen.  Parents can deposit funds directly onto their teen’s Current by Discover Card at no cost from their credit card, bank account or through recurring deposits. Spending activity is easy for parents to track online at the Current Account Center and through e-mail and text message alerts. Parents also have the reassurance of being able to set daily, weekly or monthly spending limits and block certain merchant categories that may be inappropriate for teens. “Current Card is a great option for parents who want to teach teens financial responsibility, and gain peace of mind with knowing when and where their children spend money,” said Mike Boush, vice president of marketing strategy & new initiatives for Discover Financial Services. “At the same time, it’s perfect for teens who want to establish sound money management skills and to ensure they will always have money when they need it.”

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