Tag Archives: prepaid

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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Dick Tracy calling: wristwatch that can make payments to debut in US

Jay MacDonald

Do you long to own an expensive watch? Or perhaps harbor a secret childhood fascination with Dick Tracy’s two-way wrist radio?

The time is nigh, my friends. Prepare to strap on the arm-candy of your dreams. Well, close to your dreams anyway.

This April, U.S. banks that use the TransCard prepaid system will unveil the Watch2Pay, a wristwatch with a removable SIM card that tells time old-school (analog) but pulls off contactless MasterCard PayPass prepaid purchases with a flick of the wrist.

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Emily’s list: prepaid card fee edition

Emily Crone

Prepaid credit cards can be a good starting place if you have bad credit and can’t qualify for a standard card. But I have concerns that the Control Card, a new prepaid credit card co-branded with BET Networks, is so fee-laden that it may do more harm than good.

Keep on reading for my list of my favorite personal finance blog posts from the past week!

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You’re Approved for Suze Orman’s card (but only if you already have a card)

Daniel Ray

The irony of it all. Financial personality Suze Orman’s new and controversial prepaid Approved card has a glitch that few in the media have reported on: In order to load the card with your money, you need to already have another form of plastic.
Her prepaid Approved card has generated gobs of press and decidedly mixed reviews, mostly over its fair-to-middling fee structure.
But this one aspect of the orange-hued celebrity’s purple-hued card really bugs me: the discussion of whether it may help those with no bank account (aka “the unbanked”) get a credit score. If you have to have a card to get the card, it’s highly likely you’re already “banked” and the point is moot.
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