It’s not a credit card. It’s a prepaid debit card for kids from payjr.com, based in San Francisco. Its chief executive officer says he rarely carried cash but had to pay his kids’ allowances.

"I was trying to find a way to pay my kids electronically," said David Jones.

When chores get done, money goes into their accounts.

“I go online and say, 'Yes, this chore is completed.' My parents get an e-mail saying, 'She did her chore. You can transfer the money from doing the chore into her account,'" said card user Becca Kreitman.

The card gives some parents peace of mind.

"The parent does have access to the account. They can see where their teen is spending their money and can set limits," said Jones.

It keeps Becca’s spending in check.

"I get a text message every morning. It tells me what my balance is," she said.

The card is $10 to start, about $4 a month to maintain, and 50 cents every time you put money into the account.

"The key is this is an easy way to teach your kids about credit. If it's just about passing money to your kids, there are cheaper ways to do it,” said Todd Mark of Consumer Credit Counseling Service of Springfield.

CCC says it's never too young to teach children about money. They also said you can look for other kids debit cards with less expensive fees.
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NBC News contributed to this report.