Drug testing

Two Things You Need To Know About Prepaid Debit Cards

According to the September 2004 issue of the Nilson Report, around $588 billion dollars worth of debit cards were bought in the United States in 2003. By 2008 that volume is expected to grow to $1.231 trillion putting a significant dent in the nation's use of pure credit cards as consumers continue to favor the use of prepaid debit cards. If you are among the nation's millions who are currently using prepaid debit cards or are among those considering their use, you need to know two things that may detract and enhance your use of the prepaid debit card.

First, know what you're getting. Most people understand the prepaid debit card as the retail gift card. Others know that such gift cards can be purchased through their local bank. What some consumers don't know is that those purchased through their bank can come with hefty fees attached, and those fees can come in a myriad of disguises from up-front purchase fees to various administration fees including replacement costs account maintenance fees and fees for checking the balance. Such fees are currently being debated in the courts, but until a fair resolution is offered, it is up to the consumers to be aware of what they are buying.

Second, despite consumer and fair trade concerns, some applications of the prepaid debit card are both innovative and convenient. For example, there are now some tax preparation services offering what is known as the "stored value" card. In other words, in lieu of waiting for your refund to arrive, you can simply tell your tax preparation service that you would like to have your refund loaded onto your prepaid debit card. Once you have your prepaid debit card "loaded" you can make arrangements with your bank to assign it a routing number so that you may use it just like a checking account. Another new use of prepaid debit cards come from the currency exchange companies, better known as remittance services. The usual remittance companies such as Western Union and MoneyGram are facing new competition from small companies who are targeting the immigration population by offering speed and convenience in sending money on-line using a bank account, a credit card or a PayPal account. The customer simply electronically "loads" the desired amount onto a Visacard which is then mailed to the beneficiary.

With the help of the internet, the potential to send money via "loaded" cards is without precedent. The ease, speed and convenience of such services are becoming so popular that many companies are aggressively marketing prepaid debit cards to consumers through customization. Visa, for example, has a prepaid debit card marketed exclusively to teens, know as Buxx. American Express has the TravelFunds Card marketing "for people on the go" and MasterCard has its I-Gen MasterCard marketed to those who prefer to either forego traditional checking accounts or keep only a minimum amount while "loading" their card with the cash their budgets dictate they can spend.

? Gunnar Berglund
Gunnar Berglund has been working on the Internet for about five years and runs http://www.global-prepaid-cards.com since September 2003

limousine chicago service
In The News:

Stop Struggling Because Of Poor Credit And Improve Credit Rating Now

Did you apply for a personal loan only to be... Read More

7 Surefire Ways To Repair Bad Credit

Do you have a poor credit rating? If so, you... Read More

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

Secured Credit Card is similar to a prepaid credit card... Read More

A Debt Mentality

While working through my own debt situation, and helping others... Read More

Credit Education

Having credit education is like knowing how to read. It... Read More

Free Credit Report - Really

2005 marks the year that consumers will be able to... Read More

Beware of Bogus Credit Repair Companies!

So-called "credit repair" companies claim they can remove negative information... Read More

Identity Theft - How to Protect Yourself

"Like the tan? I got tons of sun on that... Read More

Your Credit Card May Be Costing More Than You Think!

Do you know what your credit card is truly costing... Read More

Finding and Applying for the Right Credit Card Offer Online

Anywhere you go online nowadays, you will see a multitude... Read More

How Creditors Measure Your Credit Rating

Creditors will measure your credit rating based on the following... Read More

Credit Suicide

Few things influence the home buying process more than your... Read More

Credit Counseling: Could it Work for Me?

In the face of financial hardship, many seeking a responsible... Read More

Saving Money with Credit Cards

Having a credit card is a wonderful convenience for those... Read More

Credit and Its Cost

What is Credit? Credit is money granted by a lender... Read More

4 Steps You Can Take If Your Online Credit Card Application Has Been Refused

Help! I've Been Turned DownYou received an envelope in the... Read More

Credit Traps Snag Consumers

Nearly 20 years ago I worked for a small consumer... Read More

Credit Enhancements: Seven Tips For Enhancing Business Credit Transactions

What are the avenues available to businesses with weak credit... Read More

Fair Credit Reporting Act: What You Should Know About It?

The Federal Fair Credit Reporting Act (FCRA) is designated to... Read More

Is it Safe to Use Online Car Finance?

Online car finance is convenient. You can apply over the... Read More

Credit Card Debt: How To Control It

A lot of people spend more money than they can... Read More

Credit Damage: Getting Compensated for Your Loss

Until recently lawyers for victims of credit damage had little... Read More

Credit Reporting: How Does It Work?

In order to determine a consumer's credit worthiness, creditors and... Read More

Harassment of People in Debt by Creditors

HarassmentHarassment of people in debt by creditors or their agents... Read More

Credit Cards Can Help You Get Out Of Debt

Your credit rating / credit score is based upon how... Read More

solar led parking lot lights street light gallery Pete's produce ..