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This is not a bad design, but it's very web2.0 style, and is sort of cliche (the gloss buttons, blue and green text with a heavy white stroke). If it's targeted at parents, I don't think they'll really notice. If it's targeted at teens, you should rethink the style - teens are VERY design savvy these days.
The overall design and layout is pretty solid in my opnion. There's a few bones I have to pick though:
The biggest issue I see is your main content window with the clouds in the background. The clouds are fine. But the content itself is just overpowered by the background, partly because of how strong the background is, and partly because of how weak that call to action is. Here's a few suggestions: -try making the background reduced in opacity over white, and give it a white inner vignette (just use like a 50 - 100 px inner glow) -make the credit card bigger -give the tagline more prominence -for all that is sacred ADD A CALL TO ACTION BUTTON; you NEED a CTA button in that window. Make sure it's plenty big, and attractive. See this article from Smashing Magazine for some really great inspiration: http://www.smashingmagazine.com/2009/10/13/call-to-action-buttons-examples-and-best-practices/
Your background texture reminds me of tire tread or a dodge ball. Not terrible, but you could rethink that.
I like how you've separated your three primary features area. You might build on that a little and add some simple descriptive sentences under them. Also give them more top and bottom padding for breathing room. You want visitors to really pause and consider those elements of your page. White space will help there.
I like your cost charges table. It's nicely done, but you could fine tune it a little bit. See this article for inspiration on that: http://abduzeedo.com/web-design-pricing-tables
I would center align that credit card image with the button below it that says "get prepaid card"
I like your subpages. Although it seemed like when I clicked "home" from different subpages it took me to a different homepage, which was a little confusing. I really like the teens version of the site.

This is amazingly useful feedback. Thank you for taking the time and providing such a detailed and thoughtful response. We hear you loud and clear about adding more impactful Calls-To-Action! Also, re-thinking the header images. Thanks again!