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  • #280 BBB 09-24-09 11

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    bmoak
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    Prepaid bank cards have become a popular alternative to gift cards, but come with some disadvantages. While they can be used like credit cards, prepaid bank cards may charge multiple fees as high as $20 for things like customer service or inactivity. They also do not provide the same protections as traditional credit cards and have restrictions on certain purchases. The Better Business Bureau recommends consumers consider these factors when choosing a prepaid bank card.

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    Prepaid bank cards have become a popular alternative to gift cards, but come with some disadvantages. While they can be used like credit cards, prepaid bank cards may charge multiple fees as high as $20 for things like customer service or inactivity. They also do not provide the same protections as traditional credit cards and have restrictions on certain purchases. The Better Business Bureau recommends consumers consider these factors when choosing a prepaid bank card.

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    5 views1 page

    #280 BBB 09-24-09 11

    Uploaded by

    bmoak
    Prepaid bank cards have become a popular alternative to gift cards, but come with some disadvantages. While they can be used like credit cards, prepaid bank cards may charge multiple fees as high as $20 for things like customer service or inactivity. They also do not provide the same protections as traditional credit cards and have restrictions on certain purchases. The Better Business Bureau recommends consumers consider these factors when choosing a prepaid bank card.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    Flag for inappropriate content
    of 1

    MAGNOLIA

    CLIPPING SERVICE

    (6G1) 856·0911 ! (205) 758-&61.


    POPLARVILLE DEMOCRAT
    POPLARVillE, MS

    CllcrnatlOn = 2105

    WEEKLY
    0312012009
    II"IIIllnlll!lllllllllIlIllllIllil
    Prepaid Bank Cards - Pro & Con
    Better BuS1n~ Bureau of Mississippi week that the cards carry a balance.
    Ridgeland, MS - Prepaid bank cards FDIC insurance pro';ided for bank'
    have become a popular alternative to the accounts does not apply to these prepaid'
    gift cards sold by and for individual retail- cards. '
    ers. Major card companJes such as Master- '
    The major advantage is that these bank Card and Visa often brand prepaid bank '
    cards can be used anywbere that credit cards; however, they generally do not car' '
    cards are accepted, thus allowing flexibili- ry the same liability protections as tradi­
    ty in where the gift money can be spent. tional credit cards.
    Since there are some downsides to these There are some often restrictions on the
    prepaid bank cards - also Irnown as use of bank cards for purposes such as car .
    stored-value cards the Be~ess rentals, hotel reservations, and making I
    Bureau (BBB) Serving Mississippi offers deposits on large purchases. '
    the followillg tips to consider when pur· The BBB has been serving Mississippi
    chasing and using such cards: since 1964 by providing consumers with
    Bank cards can have multiple fees asso- business information and promoting an
    ciated with them which can be as high as ethical marketplace for Consumers and
    $20. SUCh fees may be for contacting cus- businesses. The BBB can be reached
    tomer service or for inactivity. Some cards ouline at www.ms.bbb.org or by phone at
    has a base weekly fee of $1.95 for each 800-987·8280.

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