Randall M. Chesler, president and CEO of Cobaltcard, is looking to empower teenagers as young as 13. The Cobaltcard is a charge card with the tagline, "My money, my life, my card." Unlike typical credit cards, the Cobaltcard is free of any interest charges. In essence, it is a debit card that withdraw's funds from a young person's account. Cobaltcard expects to make all its money on interchange and commission fees.