[outdoors]

well Banks are moaning, because customers are starting to flock to prepaid credit cards. Due to disgust with rising bank fees.

http://news.yahoo.com/s/ap/20110615/ap_on_bi_ge/us_prepaid_unbanked

 

[The Dark One]

Yep.
I use the prepaid cards from wally world.

Simple = better

 

[outdoors]

I agree. I tend to use them for online shopping. safer that way.

 

[loadthedog]

The big banks may lose a few customers but no problem. The news tells us each day of the horrors of the Big Banks, how they have forclosed on homes that they did not have a mortgage on. How they did the illegal "robo" siging of morgage instruments, failed to follow state laws, recieved Bailout money, cut corners on mortgage underwriting, credit scores, etc. etc. They should burn in HE!l but SHEEPLE continue do line up to do business with these thieves....nothing has changed! :thumb:

 

[XR750]

Isn't my bank debit card a prepaid debit card? It doesn't work unless their is money in my account!
XR750

 

[Sonnenaufgang]

I dunno. You still have to pay to use them. Credit union?

 

[Mortimer]

Personally, I think it has less to do with people choosing to use prepaid debit cards, and more to do with being forced to use them.

I work for a large payroll processing company that cuts millions of paychecks per year for thousands of companies all over the U.S. This last year I have watched hundreds of companies switch over to the "pay card" system. No more checks. You get direct deposit, or we load your paycheck each week onto a prepaid debit card. Many employees don't have the choice of getting cash anymore.

 

[Dwind]

as long as so many people are ineligible due to bad credit this trend will continue.

 

[Keyser Soze1]

The big banks may lose a few customers but no problem. The news tells us each day of the horrors of the Big Banks, how they have forclosed on homes that they did not have a mortgage on. How they did the illegal "robo" siging of morgage instruments, failed to follow state laws, recieved Bailout money, cut corners on mortgage underwriting, credit scores, etc. etc. They should burn in HE!l but SHEEPLE continue do line up to do business with these thieves....nothing has changed! :thumb:

they will soon begin losing money en masse, a grassroots movement is gaining traction to move accounts away from large banking firms,slowly as their free capital to use begins to dry up they will finally wake up. Another problem facing them is the coming massive strategic credit card default by ordinary citizens,it is unsecured debt,nothing they can do other than harass file a credit report(now everyone is scared..lol)etc,it will be everyones personal bailout created by themselves, and third will be the increasing mortgage fraud foreclosure fiasco, cant foreclose,cant sell the house,cant even recoup or accept monthly payment lost money...the big banks time is coming sooner than most think

 

[Silverlion]

Aww hell, the banks will just find another way to screw people. What are they whining about? They can burn for all I care. Banks, credit rating system, credit card agencies, they're all BS.

 

[ezman671]

Simon Malls have what they call a gift card but it is an American Express that is good anywhere. Not just in their malls.

Only cost I see is $2.95 when you buy it. It cannot be refilled but you can transfer any balance on it over to a new card when you buy another one ($2.95 again)

I keep one around with a small balance on it to use on web purchases. Had a fraudulent charge show up one time. Took a 10 minute phone call and it was cleared up with money restored to the card.

To use on the web it needs some info. You call them and give your name and address ( NO SSN needed). That way when you use it to have something shipped to you it matches card holder address to shipping address to verify.

Wat to just use it in person? No need to give them any info.

I think it is SimonGiftCard.com

They have other cards (VISA and Discover) but not sure of the costs.

 

[Straight Razor]

I stopped using credit cards years ago. I have one debit card and a Paypal card, which has not been any problem at all.

 

[Jojo]

My husband just went through BS with his employer over switching to the plastic only pay rountine. They don't even get a paystub. Waiting to see if they screw us out of OT and VAC, after all, now we have no way to prove that it was worked. If it is a bank card, pre-paid card you buy yourself, or a store gift card. They all have one thing in common. Everything you buy with that card, is on a list somewhere, forever. This list can then be used against you in a court of law or be sold to others so that advertisments can target you. Call me a relic or paranoid if you want, I like holding cash.

 

[NonTimboMala]

My husband just went through BS with his employer over switching to the plastic only pay rountine. They don't even get a paystub. Waiting to see if they screw us out of OT and VAC, after all, now we have no way to prove that it was worked. If it is a bank card, pre-paid card you buy yourself, or a store gift card. They all have one thing in common. Everything you buy with that card, is on a list somewhere, forever. This list can then be used against you in a court of law or be sold to others so that advertisments can target you. Call me a relic or paranoid if you want, I like holding cash.

I am on the direct deposit at my work, i needed some paystubs and they gave me a website to go to so i can print out my paystubs. Kinda lame but this could be an option.

 

[ezman671]

"If it is a bank card, pre-paid card you buy yourself, or a store gift card. They all have one thing in common. Everything you buy with that card, is on a list somewhere, forever. This list can then be used against you in a court of law or be sold to others so that advertisments can target you."

-----------

The Simon Mall AMEX card can be bought and used with out giving any info. No Name, Address, SSN or anything else needed.

Kinda hard to use a card with no name connected to it for web purchases as most places check for a shipping address match but these cards can be used in most any storefront type purchase with no info ever attached to it.

I know this is true as I have bought a couple and have NEVER given any info out to get it. Used it in stores just fine with no trouble.

The one I use on the web I call them and give name and address. That's all.

 

[hedley]

I will never again use a bank cc (unless it's an emergency or other). And how is walking up to a counter, paying cash and then receiving a "cc" without your name on it putting you on a list? Seems to me it's no different than buying an activated sim card and putting it in one of those prepaid cell phones which also do not require ID to purchase.
As far as actually purchasing something so that your name is not on a list... It would not be too difficult to give them a different name at an address you don't use. "It's a gift". I'm referring to online purchases. For those that require a picture ID, I guess it's time to go buy one.

 

[Tenfeathers]

First I would never use a debit card.
Pay for all your purchases with a CC that pays cash back, I have one that pays 5% cash back up to $300.00.
Another that pays back at GM for car up to $2500
Gas card that pays .10cts a gal back.
Now you need to pay 100% of the bills every mth no payments, We use maybe 10 checks a mth and very little cash.
Now think about this if your cash is in a savings account you earn interest on the money for about 25 days a mth. While your living on the CC company's money.

 

[XR750]

I'm for anything that sticks it to the banks, they and government are tearing down the country.
XR750

 

[☭Comяade Яed☭]

I haven't really had any problems with Bank of America.

Their buildings are so nice to be inside of too. I like architecture that makes heavy use of glass.

 

[infinityshock]

any time you use anything with one of those visa/MC/etc logos someone is getting it in the pooper. the simple use of that debit card costs someone money...whether its the merchant or you if the merchant adds the transaction fee to the cost...that goes straight into the banks pockets.

i remember when these debit card things first became popular over the last decade and i thought it was the neatest thing since sliced bread. now i avoid them like the plague and pay for nearly everything with cash. its not that complicated of a process and knowing that the fat cats arent getting anything from me is even more of a motivation.

as far as those prepaid cards go...has anyone actually taken a look at how they work? at first 'they' issued credit cards where the victim had a credit limit and was charged interest on the loan. now they managed to get the victim to give the banks a free no-interest loan for them to give you your money back PLUS charges fees to both the user and merchant. c'mon people get with it. stop being victimized...take charge of your finances and stop padding the pockets of those who want nothing more than to use you like cattle.

edit: ive stopped making bill payments via internet or phone automated systems. i write a paper check and mail it it to wherever the main payment center it. another way to stick it to everyone.