When it comes to the world of prepaid, we have seen many changes within the industry across the last couple of months. With the addition of seeing more people grow comfortable with using prepaid cards, we have also seen many new products enter into the marketing looking to gain your attention. While at the moment there are very few made available by larger banks, they are slowly increasing in numbers as the amount of people utilizing prepaid cards grows.

One of the newest offers made available comes from none other than American Express, and it is expected to gain the attention of many consumers. While it is not necessarily geared toward those of the older generation, it is something that will still get their attention as it is marketed to both parents and their children. Known as the “PASS”, this reloadable prepaid card is focused on teens and young adults and is advertised as a safer alternative to cash, as well as debit and credit cards. While at the moment it is only available to American Express charge or credit cardholders, it will soon be released to everyone.

As with many products today the PASS from American Express is one that focuses on two groups that have been formed by the many changes that have occurred over the last year. While one group in particular are those that are under the age of 21 and are unable to get access of credit due to the changes implemented with the CARD Act, the other encompasses those looking to teach their children about using money wisely and growing up debt free. In either case prepaid cards are finding themselves in pockets of millions of Americans and are having more money loaded on them then any time in the past.

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