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American Express Introduces New Service To Manage Household Spending

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American Express Introduces New Service To Manage Household Spending

Cardmembers can set, manage and track spending limits on additional cards.

American Express has launched a new service that provides American Express Charge card members with the ability to set spending limits for additional cards on their account.

The new card helps households to maintain a tighter household budget and track all family expenditures billed to their Card.

Cardmembers can control their family spending while extending the benefits, services and protections of the American Express Charge Card to others in their family. They may apply for an Additional Card for anyone who is 15 years of age or older.

Ralph Andretta, Executive Vice President and General Manager of Cardmember Services at American Express, said: “Parents want to provide their teens and older children with a Card that lets them spend, while helping to instill financial responsibility. This new service is an added control feature that acts like a chaperone, allowing Cardmembers to set and track the amount that can be spent at any time.â€

15 year old with credit cards? WTF?

Surely there will be some fee for setting your own spending limits...

Meh.

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