Pre-paid cards seem like the responsible way to spend money -- just spend what you have -- but they're laden with hidden fees. With more users, regulators are taking a closer look at these cards.
The new Consumer Financial Protection Bureau announced this week its efforts to regulate prepaid debit cards. Regulators fear the cards aren’t backed by protections given regular credit card holders.
The Consumer Financial Protection Bureau takes aim at hidden fees for prepaid debit cards, the fastest growing form of payment in the U.S.
I have a lousy credit score and am taking steps to improve it. In the meantime, I need to get a prepaid credit or debit card so I can pay for things like airfares, rental cars, hotel reservations, etc. Can you suggest the best prepaid card to go with? My initial Internet search for said cards resulted in a headache trying to figure out if these companies were a good deal or just a consumer nightmare. Any help is greatly appreciated. Mark, Duluth, MN