EXTENSION CONNECTION: Defining prepaid or reloadable cards

Published: Tuesday, March 19, 2013 at 06:18 PM.

•The FDIC — or laws requiring consumers to have access to those funds — protects money on the card.

•A prepaid card may teach young people how to use credit cards responsibly and how to stick to a budget.

•Prepaid cards can be used internationally.

Disadvantages:

•Prepaid cards’ fees make them more expensive to have and to use.

•Prepaid cards cannot help you establish or build a good credit history

Tips for choosing a prepaid card



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