Secured Prepaid Credit Cards

Although shoppers are trending to spend slightly more on holiday gifts this year than in 2011, a pair of consumer surveys indicates that only about two-thirds of those presents will get charged to credit card accounts. According to research commissioned by the National Retail Federation, the typical American household plans to spend just under $750 [...]

Western Union wants to grow its footprint to more than a million locations over the next few years, and the company thinks a line of prepaid debit cards can help achieve that goal. The global payment services provider celebrated the opening of its 500,000th agent location in April, and news reports indicate that upcoming partnerships [...]

U.S Bank is partnering with North Carolina State University to offer new students, staff and faculty a prepaid debit MasterCard that will also double as a campus identification card. Known as the Wolfpack One Card, it will be made available to incoming freshmen this June. The new prepaid debit card will be good for purchases made [...]

American Express will make its reloadable prepaid card available for purchase at Office Depot stores, the company announced in a press release. More than 1,100 Office Depot locations will be selling the card for a one-time fee of $4.95 and customers can load up to $500 on it at the register. The agreement marks the [...]

As tax season approaches, H&R Block is once again promoting its Emerald Prepaid MasterCard. The tax preparation firm launched its prepaid debit card in 2007, according to H&R Block, as a way for consumers to quickly receive their tax refunds. H&R Block offers the Emerald Prepaid MasterCard to its tax preparation customers. The card can also [...]

Another celebrity credit card has been announced, but this has the backing of some of financial responsibility's most powerful players. Suze Orman, along with Bancorp Bank, has launched the Approved Card, a prepaid MasterCard, according to CNN. Orman backed the card with $1 million of her own money; there are no other partners. The Approved Card [...]

"Fee harvester" credit card offers could return to American mailboxes after a court ruling postponing changes to the Federal Reserve Board's Regulation Z. Board governors rewrote the "Truth in Lending" regulation in response to 2009's Credit CARD Act, restricting card issuers' signup and setup fees to no more than 25 percent of a new account's [...]

What's a low-income family to do when their credit card rates get hiked? Prepaid credit cards, once solely marketed to low-income consumers, have become trendy in a recovering economy where everyone is trying to tighten their purse strings. But along with their popularity come new fees and charges that will affect not only the wealthier consumers [...]

The new prepaid credit card from American Express breaks all the rules for reloadable cards by charging minimal fees to cardholders - a rarity in a credit niche that's known for hidden fees and charges. This new offer capitalizes on the rising popularity of prepaid accounts, but merchants may be footing the bill. Prepaid credit cards [...]

The Kardashian Kard won't last long enough to collect its first round of monthly service fees, according to the bank involved in the reality television stars' financial venture. Officials from University National Bank told reporters that only 250 consumers had signed up for accounts before the family and the bank terminated their marketing agreement. Cardholders [...]

More Americans may soon start carrying pictures of Kim, Khloé, and Kourtney in their wallet, with the upcoming launch of the Kardashians' private label prepaid debit card. Backers of the Kardashian Kard expect the sisters' media and fashion connections to help the financial product stand out from its competitors. The sisters' publicist announced a splashy [...]

Americans spent more on debit cards than credit cards for the second year running, according to a report from Javelin Strategy & Research. Analysts at the financial industry think tank told reporters that the recession has created a "cautious consumer" that prefers to hoard cash while reducing debt. Although 87% of consumers used credit cards [...]

While online merchants have joined the fray over credit card processing fees, one payment processing platform hopes to attract retailers and consumers to a familiar service. Engineers at PULSE have rolled out an online version of their debit/ATM processing platform. Cardholders accustomed to entering a four-to-eight digit PIN at a supermarket checkout can choose the [...]

Merchant debit card acceptance has driven consumers' use of the cards to all time highs, according to debit processing network PULSE. For the 2010 Debit Issuer Study, PULSE commissioned global consulting firm Oliver Wyman to survey sixty-four leading financial institutions about their customers' use of debit cards. According to study respondents, roughly two out of [...]

Millions of Americans will join the ranks of prepaid debit card users over the next few years, as government officials announced plans to eliminate most Treasury check payments by 2013. According to the Office of Management and Budget, current recipients of government benefit checks will have eighteen months to prepare for the switch. After March [...]

Alternative uses for credit card processing platforms dominated a recent roundtable discussion held by trade publication American Banker. Business services managers and industry analysts from prominent banks and brokerages, including Barclays and SunTrust, discussed innovations that both championed and challenged the banking establishment.Prepaid credit cards and debit cards earned high marks from the panel for helping to [...]

A customer service recommendation mailed to former Washington Mutual debit card holders may have some ulterior motives, according to a feature article in American Banker. When Chase issued replacement debit cards to customers it acquired after WaMu's failure, the bank advised accountholders to avoid risking identity theft by selecting "credit" at retail checkouts instead of PIN-based [...]

Officials at Visa Europe expect a sharp reduction in debit card transaction fees will prevent further investigation into the payment platform's business practices, according to a report in the Wall Street Journal. Under a new agreement with European Union regulators, the company will command no more than a 0.20% of transaction amounts when processing signature debit [...]

Editors at Kiplinger's Personal Finance have taken a common household debate to the pages of their April issue: are credit cards or debit cards better tools for maintaining a budget? Senior Editor Mark Solheim takes the position that credit cards, when used wisely, can make a bigger positive impact on household finances than debit cards. Solheim presents [...]

Attendees of the recent CTIA conference in Las Vegas agreed that mobile payment platforms based on secure cellular data streams could revolutionize a variety of industries. However, many of those same panelists and audience members couldn't pay for their taxi rides using debit or credit cards, thanks to an administrative ruling by county officials.Most of [...]

Editor's Note:  This offer is no longer available.  Product managers at American Express hope a new flavor of charge card can lure young consumers away from debit cards. The new Zync Card from AmEx bathes the familiar Centurion in blue and white hues, making a subtle distinction from classic green and gold cards. Like its cousins, the Zync [...]

Kiosks for prepaid credit cards have blossomed at supermarkets, drugstores, and discount retailers across the United States over the past few years. Using the same technology that allows cashiers to dispense third-party gift cards, retailers can offer customers the convenience of turning cash into a credit card number that can be used online or overseas. However, [...]

A wave of ad campaigns asking bank customers to make signature transactions with their debit cards coincides with a shift from credit card reward programs to debit card perks and privileges. Recent research by First Data shows an almost even customer migration from reward credit cards to reward debit cards, fueling more profits for banks while reducing [...]

Walmart customers can look forward to six more years of credit card service from GE Money, after the retailer extended its existing private label lending agreement in July. The consumer lending unit of General Electric has provided retail financing to the discount chain since 1999. Customers participating in Walmart's consumer credit card program enjoy features [...]