Friday, January 2, 2009

2009 could be a big year for prepaid cards

At, they predict nine things that could happen in the industry in 2009. With the current credit crisis, they predict that prepaid cards could step in and fill the gap for consumers. It is a way for the consumers with poor credit histories to maintain a card. They also predict that banks will become very creative in this new economic environment.

...the possibility of short-term credit card products, which would potentially carry terms for just one year. After that set time is up, banks would then review terms associated with the card in order to price them again based on the individual cardholder's payment behavior.

For more predictions about credit this year, read here.

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