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Tips and Hacks from Super-Successful founders

195: Find the best banks for college-bound Teens


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Problem1_Penguin_sadidea/Problem:

1. Many parents would like to open bank accounts
2. And also get credit cards for their teen kids who
3. Would be going to college after their high school.

4. They would love to learn about
5. good banks and good credit-cards which
6. Are teen-friendly like no-monthly fee, low-interest credit cards

7. can be monitored by parents, has a smartphone app etc.
8. Right now, these parents hate to do research
9. but would like to know the best banks and the best credit cards
10. for their college-bound kids.

Solution1_penguin_happySolution:

1. This will be a smartphone app
2. When they open the app, it will show the
3. top banks for checking and savings account

4. It will also show the top banks for credit cards
5. For the college-bound kid.
6. Parents pick the banks and open accounts and

7. They will pick the credit cards and
8. order one, for their college bound kid.

Money1_Treasure_ChestHow to make money:

1. Affiliate Fees from banks : When you link credit cards from your website
1.1 most of the banks offer affiliate commissions
1.2 if someone signs up from your website.

2. Paid version of the app: The paid version of the app
2.1 will have extra features like
2.2 monitoring the credit card for late fees. Payment reminders etc
2.3 you can sell the app for $4.99