5 Ways to Know a Prepaid Card Is a Good Deal
NEW YORK (TheStreet) -- Prepaid credit cards are on a roll these days as consumers looking to regain a financial foothold, stick to a budget and gain some everyday financial flexibility are turning to them in record numbers.
According to the Pew Charitable Trusts, prepaid cards are expected to account for $200 billion consumer assets, up a whopping 600% from 2009.
It's no accident that the rise in prepaid cards comes at a time when the economy is weak and consumers are fighting to stay afloat. As Pew notes, most consumers use prepaid cards to help meet a household budget when they can't get access to traditional credit cards.
But prepaid cards are largely unregulated and can sting consumers with heavy fees and complex rules on usage. So how do you really know you're getting the best deal on a prepaid card?