American Express Pass Card: Did it Pass Our Test?

Have you heard about the American Express Pass card?  It’s a pretty novel card and with Thanksgiving fast approaching and the shopping season about to hit, the Pass card is a great way to give teenagers or college students the independence of having a credit card without handing over your personal card.  Prepaid credit cards are hugely popular now partially because they make it easy to keep spending in check, but the American Express Pass lays on the benefits with minimal fees.

Amex Pass Features and Benefits

American Express stays true to its reputation of offering world-class benefits and customer service with the Pass card. The benefits provided with the card include:

90-Day Purchase Protection: The Pass card covers accidental damage or theft within during the first 90 days after purchase.  While a standard benefit of American Express cards, it is a rare benefit to have with a prepaid card.  You’ll be covered for up to $1,000 when you use the card.  (This benefit has come in handy in the past when Amex replaced a new iPhone that was stolen out of my car). 

Email Notifications:  A fantastic feature to keep tabs on what and where your teen is spending funds, the Pass card comes with an email notification service that you can have notify you each time the card is used.

Worldwide Assistance: Whether on a trip with friends, family or spring break, the PASS provides you access to a Worldwide Assistance hotline that can help provide passport replacement, or help get the appropriate legal advice if your energetic youth gets into any serious legal trouble while traveling. 

Fraud Protection: The amount of any fraudulent purchases, even if the card was lost or stolen, will be replaced back to your account.

Overdraft Protection: You won’t have to worry about getting stuck with overdraft fees since the Pass card will only allow you to spend the amount deposited on the card.  And you won’t have to worry about damaging your student’s or your own credit.

Easy to Use

The Amex Pass was specifically designed to be easy to use so that parents would keep using it as a way to give funds to their teen or college student.

·       Reloading via automatic monthly transfer, via phone, or the AmEx Pass website.  You can even use your personal American Express card to load up the Pass card.

·       Use cash to reload by purchasing a MoneyPak at a local retailer.  Amex will even reimburse the cost of the first MoneyPak card ($4.95)

·       Optional ATM access (1 free withdrawal per month, then a $2 fee each additional ATM use)

·       Online tools for tracking and viewing spending, and educating your teen on budgeting, handling credit and even paying for college.

·       Separate logins for parents and students

Pass Card Details:

·       $3.95 fee per month. (Less than many prepaid cards that don’t offer the same benfits)

·       Must be 13 years old to use the card.

What It Means:

Prepaid cards are often not worth the fees, but the American Express Pass card comes through with some great benefits and is super easy to use.  The $3.95 fee isn’t enough to worry about considering one stolen or damaged purchase would easily offset the small fee.  Access to the American Express customer service network and benefits while helping your student get started with their financial prowess seems like a no brainer.

·       How do you teach your kids how to be financially responsible?

·       Do you think the American Express Pass is worth it?

·       What has been your experience with other prepaid cards?