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News Tips & Updates on Prepaid Cards

Prepaid debit cards are no substitute for credit cards

Monday,04th August, 2014
Has it finally happened? Have prepaid debit cards moved from being a distress purchase (once used only by those who couldn't get approved for mainstream debit and credit cards), through acceptability, all the way to exclusivity? At least one company seems to think so, because it's issuing a platinum prepaid product -- made of pure platinum. The Pure + Solid® Platinum MasterCard® weighs in at a minimum of 65 grams (just shy of 2.3 ounces), and costs … wait for it … roughly $38,000. Given that the spot price for platinum closed in New York on July 29 at $1,474 an .......

Prepaid plastic with credit is not the same as a credit card

Monday,22nd October, 2012
On Sept. 5, The Wall Street Journal retold the story of Jim McConnell of Urbana, Ohio, who borrowed $400 and loaded it onto a prepaid card. Every two weeks, he renewed the loan, and after a year he'd built up $1,344 in card-issuer fees. A card with credit is not always a credit card You might think that the term "prepaid card" contains a clue as to the nature of this particular form of financial product. Surely, "prepaid" implies that you have to spend your own money. Silly you. A number of prepaid card issuers -- including Netspend, the nation's second largest .......

Prepaid card use is growing rapidly. Is this a good thing?

Monday,23rd April, 2012
Do you suffer from vertigo (or, more correctly, acrophobia: a fear of heights)? If so, you should probably avoid creating a mental picture of a graph derived from Mercator Advisory Group's projections for prepaid card usage in the U.S. There's a real danger you could get a dizzy spell, and bump your head on the x-axis. Mercator reckons that $28.6 billion was loaded onto prepaid cards in 2009. It expects that figure to top $201.9 billion next year. Who uses prepaid plastic? About 13 percent of U.S. households had a prepaid debit card last year, according to research published by Javelin Strategy .......
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AmEx walks a branding tightrope with prepaid cards

Monday,09th January, 2012
Do we choose credit cards the way we choose soft drinks? Does American Express "taste" different from, say, Discover? Does a prepaid credit card carry a stigma that reflects on the parent company's brand? Few of us like to think that we're affected by marketing in general, and branding in particular. Instead we prefer to see ourselves as rational players, making calculated choices over what we buy. Research shows that most of us are kidding ourselves. Branding on the brain The extent to which that's true was revealed in a recent study carried out by the Baylor College of Medicine, and reported on .......

Secured credit cards and the Rottweiler tendency

Tuesday,25th October, 2011
It's an all too tragic and familiar story. A family buys a little puppy that belongs to one of those breeds that are known to be dangerous. And it's all: Aww, he's so sweet. And, aww, he's so clever. And, aww, he's so good with the kids. Four years later, he's practically chewing the face off a toddler. Well, it's not a bad idea to see purveyors of plastic in the same canine way. A new card arrives, and it's all: Aww, it's so pristine; I can still read the embossed numbers. And, aww, it's got such a cute zero balance. .......
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10 Things to Know About Prepaid Cards

Thursday,17th February, 2011
You've probably seen prepaid cards hanging near the checkout stand at supermarkets, pharmacies, and other retailers. These payment cards are a nice option for people who have bad credit and can't qualify for credit lines from credit card companies. Here's what you need to know about prepaid cards: You pay a fee to set up an account and also when you deposit additional funds. You also may pay processing or transaction fees. But considering how much interest you'd pay with a regular credit card if you carry a balance, you may make out much better with prepaid cards despite their fees. Your .......