Prepaid credit cards for students are perfect for parents who want to help support their children while they’re in school, but don’t want to risk giving them an actual credit card. While real credit cards can be used until they are maxed out and the student is in over his or her head in debt, prepaid credit cards are much like a gift card. Once the money is gone, it’s gone and the card is useless until more money is put onto it.

Better than cash, prepaid credit cards for students are replaceable in the event of loss or theft. To preserve the balance, all you need to do is cancel the card and wait for a new one to be mailed to you. These cards allow parents to deposit a set allowance whenever they see fit, and can help teach responsibility to students who are gearing up for a real life credit card.