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Amex Teen Card

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Move over VISA Buxx here comes an American Express card for teenagers. This week, American Express and San Francisco-based Zowi Corp. unveiled the Cobaltcard, a stored value card for teenagers, age 13 and up. Applicants under the age of 16 will need to obtain parental approval in order to obtain the AmEx teen card. Applicants who are 16 and 17 years of age, with an individual checking account, may enroll for a Cobaltcard without prior approval, but parents will be notified that a Cobaltcard membership has been established. Through the Cobaltcard Web site, cardholders may load money onto the card and have access to their Cobaltcard information including transaction history, remaining funds and an interactive budgeting tool. To help foster financial responsibility the Cobaltcard Web site will provide budgeting tools, tips for parents about how to talk to their teens about money, financial questions and answers. Cardholders can make online purchases by selecting American Express for payment type and entering their Cobaltcard number in place of a credit card number on a merchant’s check-out page. New cardholders will also receive a Cobaltcard in the mail within seven to 10 business days, enabling cardholders to then use their Card to buy in stores as well. Individuals can register for the Cobaltcard online at www.cobaltcard.com.

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