See allLatest Trade Alerts

Brokerage Partners

Prepaid Cards Rise as Other Banking Products Decline

Tickers in this article: AXP

Make sure to ask the provider about fraud protection, and ask for good perks like roadside assistance and travel insurance. Card companies want your business, so chances are they'll go an extra mile to accommodate you -- but you have to ask.

  • Does the card suit you?
  • You'll want to look for a card that is light on transaction fees, especially if you'll be using the prepaid card in place of a debit card - that should translate into more transactions. Ask about any free ATM networks, as well.

  • Ask about inactivity fees
  • Prepaid card providers may charge you if you don't use the card, so ask about any fees triggered by inactivity. Use your card just enough not to trigger those fees, and make sure to get cash back at the point of purchase, and not from an ATM. Chances are there's a fee for that, too.

    For some consumers, a prepaid card may be a match made in heaven -- if you get the right card, use it wisely.

    Follow TheStreet on Twitter and become a fan on Facebook.