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Comparing the cards: Cobaltcard

American Express Cobaltcard
Cobaltcard
Issued by American Express
Fees
None
Where teen can use card
Point of sale, ATMs and online where American Express is accepted, except for "sites inappropriate to minors."
Maximums
$2,000 maximum stored value. No more than $500 can be transferred daily from checking accounts.
Who can add value
Teen cardholders, parents and anyone authorized by a parent, online. Money can be transferred from bank accounts or major credit cards in multiples of $20.
How long it takes to add value
Usually the money is available immediately, sometimes the next day.
Can you check your teen's spending?
You can choose to have full viewing rights to all activity on the card. Someone 16 or older with a checking account can sign up, and the teen and parent decide whether the parent can review account activity.
Can you block certain retailers?
Minors blocked from buying "adult merchandise" online. That includes pornography, tobacco, alcohol, gambling chips, drugs or weapons. If a teen tries to use the card, successfully or unsuccessfully, to buy illegal items, the card will be canceled irrevocably.
Cash back at point of sale?
No
FDIC insured?
No
Customer service
Web site is quite clear and complete. A toll-free number is provided.
Visa Buxx
M2card

 

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-- Posted: March 6, 2001
   

 

 
 

 

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WEEKLY AVERAGES
Type Fixed Variable
Standard 13.23% 14.86%
Gold
Platinum 12.70% 15.89%
All 13.02% 15.61%



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