Wednesday, August 26, 2009

Prepaid Cards Might not be best for College Students

This post on the Baltimore Sun mentions that prepaid cards might not be the best option for college students trying to step away from owning credit cards. The reasoning behind this is because some prepaid cards carry "hidden" fees. Eileen Ambrose recently wrote in the Sun that perhaps another alternative would be to tie a debit card to a checking account, and once students can successfully manage that responsibility, to gradually move them into credit cards. Do you agree that prepaid cards are not the best option for college students?

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