Suze Orman – thank you. Your prepaid card is a good thing for the millions of unbanked adults out there who have no other palatable financial options. Your fee is low and you give them an option to only using cash, and having to pay to have checks cashed. You are also doing a good thing by getting Transunion to gather data on these prepaid cards in the hopes that one day, this data could help get these cardholders some kind of credit score that could bridge them to the traditional world of credit.
BUT, Orman claims that her prepaid card is a good way to teach kids about money. I disagree. It is not the best option for our kids. Nope, not by a long shot. Continue reading