Sunday, June 3, 2012

As prepaid cards' popularity rises, better be wary of fees

New types of prepaid cards are rolling out at a brisk clip, and plenty of people will sign up despite the fees.

In general, prepaid cards are gaining popularity. And some, like American Express, are going after young professionals, said Beverly Harzog, credit card expert for Credit.com.

The marketing push is to offer a piece of plastic that's an alternative to a traditional checking account — and plastic that generally can't be overdrawn.

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