Posted on December - 13 - 2009
Prepaid Cards Garner Attention
In the past, for many people when it came to prepaid cards it was for using sparingly or during times that they didn’t want to use their credit cards to make purchases (ie: online). Now that the times have changed, prepaid cards are finding themselves in the pocketbooks of millions of Americans. For that reason, it now looks like everyone can look forward to seeing more major credit card issuers enter into the reloadable prepaid cards space. One of the most recent issuers to do so was Capital One in hopes to benefit from the millions of consumers navigating away from credit cards to get a better handle on debt.
When looking at prepaid cards there are many options that are available and each is geared to a different audience. Some of the largest growing areas that are utilizing reloadable prepaid cards include:
- Underbanked
- Unbanked
- Student
- Teens
In the long run, consumers can only benefit from the growing number of reloadable plastic available. With such competition in the prepaid space, many of the newer offers out keep lowering their fees, in turn making some of the older companies do the same. In addition the competition is also spawning features that were never once believed to ever be associated with prepaid, like cash back, rewards, discounts and even a discount prescription card membership.
Similar Posts:
- Growing Usage is Changing Prepaid Card Industry
- Secured and Prepaid Cards Still Options for Students
- American Express Giving Prepaid Card “PASS”
- Is Lowering Credit Card Interest Rates Enough?
- Prepaid Card Issuers Focus On You
