Credit Academy

Credit Academy

Mastercard allows kids to pay for purchases with chore money

3 followers

Visit website
The first card that actually encourages kids to do chores to pay for purchases. Kids pay their balance by doing chores. When approved, we’ll reload cards with funds, real-time, and reconcile their balance.
Credit Academy gallery image
Credit Academy gallery image
Credit Academy gallery image
Launch tags:Productivity•Fintech•Payments
Launch Team
Framer
Framer
Launch websites with enterprise needs at startup speeds.
Promoted

What do you think? …

Adam Fox
Cool idea but with a $9.95 monthly service fee and a $4.95 activation fee, I’d hope someone from this company would be coming to my house once a month to wash my car and earn that.
Charles Polanco
Wallow
Maker
@faxmado Sure we can surely send someone over :)
Charles Polanco
Wallow
Maker
I hope you all enjoy the product!
Matt Gardner
Really cool idea and could be used early to teach financial literacy, which I think is a huge problem in North America right now. Question on the first product shot @charles_polanco, if it's pre paid why is it shown as -$7? One of my first worries would be that my kid could overspend and leave me owing a bunch of real money? Or do they always run a negative balance and bring it up to $0 with chores?
Charles Polanco
Wallow
Maker
@thatmattgardner Thank you Matt for the feedback and great question. We now hide the pay button when balance = 0. Although, if a kid does a chore for $5 dollars and his or her balance is $4, the current balance will be -$1
Rikza Naeem
The best product for me
Charles Polanco
Wallow
Maker
@rikza_naeem Thank you Rikza
Constance Tang
Handy
It might be a life-saver for parents, but is it a good way to teach kids? I think doing chores is a responsibility and contribution to your love/family, which should not be considered in monetary terms.
Charles Polanco
Wallow
Maker
@tangconst Thank you for the feedback. CNBC wrote a story on this: Parents pay the most for top 10 chores, story link below. Many parents like myself pay kids to do chores as a form of allowance, hard work. Credit Academy is geared to simulate a credit card where instead of you (dad) waiting to get a Job check (work hard, get paid, pay credit card) to pay your credit card balance, kids work hard and use chore money earned to pay down their balance. You teach them, to buy the things you want, you have to work hard to pay for the things you want like daddy. Chores is a good start. Hope this helps. Story Link: https://www.cnbc.com/2018/03/02/...
Gabriel Radic
Very enticing product! Is there something like it for German residents?
Charles Polanco
Wallow
Maker
@gr Thank you! Working on it!
Vivek Venkat-Ayer
Hello Charles, what a cool idea. Ive just seen this :) How has the product progressed? Good luck to you and to your team!
12
Next
Last