Credit Card for Special Needs Young Adult
 

I apologize if this is not the right forum location for this question.

I have been here before, but not recently. Many of you have helped me tremendously...it is greatly appreciated.

WE have a family member (young adult) who suffers with a mood disorder and a neurological problem. There have been many years of significant turmoil.

She takes her meds fairly regularly, has a good heart and seems to try her best, but there are MANY problems. One is that she struggles with money matters.

When we (her family) travel, we have considered leaving her with a credit card that we could add money to (via computer) only in case of extreme emergency. For example, a medical problem...should she need medicine or related supplies, for example.

However, we do not wish her to be able to overdraft on this card, or for this card to be tied to our bank account or for her use this card to get credit . We have our reasons as to why, etc.

Does anyone know of a card...maybe a teen card, etc. that has a very good reputation that provides these types of services? Something simple and very VERY safe, especially in terms of PREVENTING ABUSES of any kind. This is vital.

If possible, please give me specific names...perhaps in a private message.

Thank you.

Rather than a credit card, why not consider a debit card?

Debit cards have all the benefits of a regular credit card, including online and phone purchases, but unlike a credit card, a debit card has no credit facility.

You must deposit money into the account before you can use the card and with no overdraught feature, they're excellent for teens.

Be careful with the debit card. I had mistakenly thought that I had this type of non-overdraft protection for my son, but alas did not. My bank was allowing for OD's when we had not specifically authorized them. I do believe there is a financial industry regulatory change that will soon (or maybe has already) been approved, whereby the financial industry would need to specificially receive your authorization to allow the overdrafts. This seems to be what you want.

If she seriously needs medical attention, she would not get denied and be billed after the fact. If she has no earning power, she would likely qualify for Medicaid which would cover those expenses.

For incidental spending, I'd recommend a prepaid Visa or MC with a fixed balance. You can get them in any denomination and when it's gone, it's gone.

Maybe a few of those left in the hands of a responsible third party to whom she can go for help?

You can also set up a bank account into which you can transfer a cash allowance at your discretion. Take care to do it in person and to decline all offers of extension or overdraft protection.

If this is an issue for life, the court can appoint a guardian ad litem who will take on the responsibility of managing money for her.

I know that Walgreen's offers an Express Pay option on Rx where you set up a credit card used exclusively for your meds on pick-up. It does not cover anything else.

Hi.

My friends have a family member (who is now in his 50') who has this similar problem. He's completely self sufficient, has his own apartment, comes and goes at his discretion, is the most pleasant fellow on the planet, but cannot handle any money whatsoever, cannot handle his banking, cannot make change, (can't spell either), so he can't do his own money management whatsoever.

His family controls ALL money matters, pays his bills, etc. He is on SSI, and the other family member is the payee. The man with the money management problem, has no idea this is happening because he doesn't know that he himself has limitations. He thinks everyone has other family members that handle money matters.

So they give him a weekly allowance and they gave him a prepaid visa. He used he whole thing on nonsense items because he didn't know any better.

The family became furious, took it away and now he is depressed. He also has his own phone and ran up such long distance that everyone became furious.

If you think that your family member is able to use a prepaid visa, then perhaps you can put let's say for starters, $100 on it. And then see how she handles it.

If she only has $100 to spend and you explain "this is for emergencies", and she GETS it, then that's half the battle, right??.

You haven't done this yet, right?

Also, the idea of getting a debit card that is linked to her own bank account is a good idea IF you go with her to open the account speak to the person opening the account, tell him the whole story (in private of course), and see if there is a way that she can't do the overdraft thing, etc. etc. Perhaps they have special bank accounts for special people. If they don't perhaps THEY SHOULD HAVE.

If you find a bank that does this, than that's half the battle, because you can add funds from any place into her bank account when you travel. And your mind will be at peace.

I don' know how old she is, but perhaps this can be a money management learning experience for her, and when she does something GOOD, you can praise her and she'll feel good about herself (positive reinforcement I believe it's called).

Whatever you decide, you are a true straight shooter and a very nice person to be so concerned for her welfare.

I suspect all will be fine with you in her corner.

All the best,

Melody

This is such a great suggestion: a card with a set limit, a fixed balance. I like that idea more and more - even for all of us who don't have those limitations because the truth is, in today's world, the safer the better.

I read a very good article in the Reader's Digest entitled " What an identity thief won't tell you " Be extra careful at the bank or at the ATM because someone could be holding his cell phone and... taking a picture of your card at the same time!

The thieves also thank you for using your debit card instead of your credit card!

I also learned in the same article that in France credit cards have the owner's photo on it. Thieves don't like that...

I share everyone's concern for protecting those who need that protection.