Discover Current Prepaid Card $5 off Promotion

Discover Current Prepaid Card $5 off PromotionEarly this year, Discover introduced a new prepaid debit for teenagers, the Discover Current Card. Even though the Current card is designed specially for teens, it gives their parents a great deal of control on the way their children use the cards. The goal is by using this card, parents and teens can work together to set spending limits and establish responsible spending habits that will benefit the children for years to come.

Features of Current by Discover

Discover claims that the Current card is the only prepaid card that helps parents monitor their teens’ spending (I don’t know whether this is true or not). With the Current card, parents can set up spending limits and restrict what their children can shop and where they can shop. This gives teens freedom of using the card to shop while helping their parents maintain control of the spending.

Other benefits of the Current card include free direct deposit for parents and teens, as well as free deposits from any credit card or bank account. Once money is added, teens can use the card to make purchases online, over the phone and in stores. In addition, the card can even be used an ATM card for cash withdrawals. The card also offer $0 fraud liability guarantee.

The Current card, however, is not free. It has an annual membership fee of $50, or $5 a month. Other fees include $0.50 per ATM withdraw (the first four withdrawals are free though), $3 to replace a lost or stolen card, and $5 to receive a card statement by mail. Free card statements can be viewed online any time and there is no inactivity fee.

Check out these credit card bonus promotions:

Current Promotion

Right now Discover is running a promotion for the Current Card. If you get a Current Card now, Discover will waive the membership fee for first month, a $5 value, when using the promo code BT709. This offer expires on May 30, 2010.

BTW, I had a post on Zecco promotion code for $200 bonus for their Forex trading account a couple of days ago. It  turned out that only those who received the original email will get the bonus when all the conditions are met. I have updated the original post with this information. Apologize for the confusion!

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One Response to “Discover Current Prepaid Card $5 off Promotion”

  1. Savingeverything |  Jul 26, 2009 at 9:06 am

    Any way to make money off of this? If i use a creditcard, how will the transaction be coded? If it’s a purchase, then why not use your highest cashback rewards credit card to buy the Discover Current Prepaid card, with an amount just right for your child to charge as you want her to spend in a month. Use the promo; and repeat after she spent it. She dont have credit card; so you benefit with cashback rewards on whatever she spends with her friends at the mall and stuff. Discover is happy because everywhere she swipes the prepaid card, Discover gets whatever Discover charges merchants (~1.25-2%); plus Discover may get a $5 per month from you if you go beyond the 30 day period. Sounds like Discover wants to get into the Prepaid Card business. Very similar to others, that have all sorts of fees, like netspend, visionprepaid, acecashexpress, accountnow, greendot, visa corp’s vuxx, payjrbuxx, micash, achievecard, etc. Most cards that joined the greendot reload allow you to pay $4.95 for MoneyPack universal reload +amount, available at most stores.