Makin' Money

Prepaid credit cards–ugh

Chris Farrell Dec 6, 2010

Prepaid credit cards are bad. Repeat after me: Prepaid credit cards are bad. This Wall Street Journal story makes it clear that prepaid cards may be good for the banks, but I don’t see how the consumer benefits. . Just use your debit card.

All the major media have essentially the same story: A tax deal is in the works. Extend the Bush-era tax cuts and unemployment benefits. This is the New York Times version:

I’m a huge fan of Janet Bodnar, editor of Kiplinger’s Personal Finance. She built her reputation with wit and wisdom writing about kids and money. She weighs in on prepaid credit cards marketing at teens with a big Nyet:

The Supreme Court agreed to decide whether 1.5 million female employees of Wal-Mart can pursue job discrimination claims in the largest employment class-action suit in the country’s history:
This is a really big deal. Now, the Court’s decision won’t address the merits of the case. It will simply decide whether a class action lawsuit is proper when alleging pay discrimination and denied promotion opportunities at thousands of stores across the country. Business is strongly opposed to such class action lawsuits. Either way, the Court’s ruling will greatly impact the future of this kind of class action suit.

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