There is a significant increase in the popularity of prepaid cards. This phenomenon was greatly noticed in the past years. The demand for these alternatives increased so much that transactions possibly reached $7.2 billion in a year. Even employers joined the bandwagon and started issuing cards rather than a paycheck. Prepaid cards are re-loadable spending plastics that also carry Visa and MasterCard logos, but are not considered a debit or credit card, not even gift cards. Users need not open a bank account nor apply for a credit line. Just add money and it works the same way as credit or debit cards. Hence, if you are not too sure about opening a bank account or you maintain that a … (more) March 12, 2010
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