Wednesday, September 16, 2009

The New Card On Campus: Prepaid Debit

Posted by Quang Nguyen

Many colleges have tightened rules on credit-card marketing on campus in order to discourage students from racking up huge amounts of debt. Now another kind of card is being pushed on campus -- with its own set of issues.

This fall, financial-services companies are focusing more of their campus marketing on "prepaid debit cards," which work like standard debit cards except that they aren't linked to a traditional checking account. Among the issuers aggressively marketing their cards this year: U.S. Bancorp and Wal-Mart Stores Inc.

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  1. I prefer a credit card, this limits your spending horizons.

  2. I think that the benefits of these new types of cards don't outweigh their costs. Moreover, they have so many hidden small fees that students can easily get confused and lost. I personally think that the traditional debit and credit cards are still the best options for college students.
    - Alma Zhumagulova