Recent reports are indicating that the prepaid credit card market is on the rise. If you have absolutely no interest in using a prepaid card, in about seven years you might be singing a different tune. Reports are showing that millions of people are now using prepaid credit cards and those numbers are headed straight up. As a matter of fact, by 2017 it is expected that the number of prepaid cards that will be used will be tripled than what they are today.
The high use of prepaid cards is a pretty unexpected concept, but people are catching on to the benefits the cards provide. Consumers have turned to prepaid credit cards as an alternative to credit cards and traditional banking. After all prepaid cards do offer many of the same features like direct deposit and online bill pay without many of the risks.
According to a report from MasterCard, in 2009 consumers loaded their plastic with around $120 billion. In 2017, they expect much more as the load amount could reach well over $440 billion. By the way, these numbers are just factoring in the U.S. cardholder. So far in 2010 one major prepaid card issuer, NetSpend, has already hit breaking numbers. Experts believe this is just the beginning of a market that is about to take off.
Prepaid cards are already competing for consumers by offering special offers and some are even starting to offer cash back rewards like the Upside Prepaid Visa Card. Offers like this make these cards very appealing to consumers and have people thinking twice about prepaid credit cards. If you not sold on the “everybody else is doing it” mentality then check out some of the top prepaid cards that are available today.
Top 3 Prepaid Credit Cards
 Editor's Pick: Low Fees |
| Activation Fee: $0* Monthly Fee: $0 - $5.00* Transaction Fees: $0* ATM Fees: $2.00* *See Mango's website for details  |
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 Free ATM Withdrawals |
| Activation Fee: $0* Monthly Fee: $0 - $5.95* Transaction Fees: $0* ATM Fees: $0 - $2.50* *See Green Dot's website for details |
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 $25 Direct Deposit Bonus |
| Activation Fee: $0* Monthly Fee: $9.95* Transaction Fees: $0* ATM Fees: $2.50* *See AccountNow's website for details |