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Prepaid credit card use is increasing which can be maybe possibly maybe not merely a bad thing

Prepaid credit card use is increasing which can be maybe possibly maybe not merely a bad thing

The WSJ states that the prepaid card business is booming and it’s also expected to achieve $200 billion in earnings by 2013. The card that is best that is prepaid, Green Dot Corp., raised $160 million using its IPO last thirty days and it has now seen its stock increase by 30 percent after that. The second-biggest business on the market, NetSpend Holdings Inc., hopes to improve $200 million featuring its very own IPO that is coming. It really is news that is good.

Prepaid cards are used as debit cards, while using the difference these are generally perhaps possibly possibly maybe not linked to a bank bank account, but they are drawing funds from a credit card merchant account utilizing the bank this is certainly issuing. Yet, they’re not charge cards either, considering that the issuer just is not expanding a personal credit line towards the cardholder, this is certainly really buying his or her card’s investing limitation. Following the security can up be used, the card could possibly be re-loaded.

Prepaid cards restrict the investing that is cardholderРІР‚в„ўs the quantity this is actually pre-loaded into the card. Читать далее

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