Tag Archives: debit

What our grandparents taught us about credit

Jeff Herman

Grandpa Herman would never have imagined paying for airline tickets with credit card points and a hotel card’s sign-up bonus covering a getaway stay later this year or in 2018. Julius “Cotton” Herman was a farmer in Florissant, Missouri. He…
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Summer jobs program teaches ABCs of debit

John Egan

High school students traditionally take classes in English, math, science and social studies, but in Baltimore, youths in the city’s summer jobs program are learning how to handle plastic. The plastic is in the form of a debit card, which…
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RushCard debacle highlights dangers of prepaid cards

Kelly Dilworth

A technical glitch has caused thousands of RushCard prepaid cardholders to temporarily lose access to their funds — in some cases, for more than a week — and the fallout for many cardholders has been terrifying. According to comments left…
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Suze Orman’s Approved cards won’t be anymore

Jay MacDonald

This week, Suze Orman’s love story with her signature Approved prepaid debit card for budget-stretchers came to an unexpected end. And as with most sudden breakups, neither side is saying much.

Bancorp Bank, which handled the payments end for the reigning queen of cable money advice, would only tell the New York Times that come July 1, Approved cards won’t be.

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No checking account, no health insurance coverage?

Susan Ladika

There’s a little-noticed weak link in the federal government’s plan to extend health care insurance to millions of Americans who now lack it: The uninsured may have to stay uninsured if they’re also unbanked.
So says a report issued by Jackson Hewitt Tax Service, titled “Uninsured + Unbanked = Unenrolled.”
It points out that one in four uninsured Americans eligible for coverage under the Affordable Care Act (aka Obamacare) do not have bank accounts. In the parlance of the financial industry, they’re “unbanked.” Unless insurance companies allow customers to pay their premiums using prepaid debit cards — which they’re not required to now — it could put a chill on who actually enrolls.
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