Prepaid Cards Offer Safe"Charge"Option for Teens

August 3, 2008

Mintel recommends teenagers as potential target market for prepaid debitFor the teen who wants it all, a prepaid debit card may be the answer, says Mintel. Conveying “cool” status and making payments easier, prepaid cards also offer security and control for parents. A new report from Mintel suggests teenagers—and their parents—could be a lucrative target for prepaid debit cards.Prepaid cards have many teen-friendly features, according to Mintel. Unlike credit cards, they carry no risk of debt or overdraft fees; cardholders can only spend the amount of money pre-paid onto the card. Additionally, prepaid cards offer the protection of a credit card and the opportunity to build credit. The cards are generally accepted wherever credit and debit cards can be used.

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