I have used a prepaid credit card for a good long while now,
much safer than other forms of credit/debit and is basically
a throw away, if its stolen no biggie, the only thing i dislike
about them is the way they function in the hotel industry
and at the gas pump, bugs need to be fixed there, as to
young folks having them, i see nothing wrong with it,
its just cash in plastic form, a very small fee is charged
per month for the service but that's it.
A checking account is really going the way of the forefathers
anyway, allot of places wont even take paper checks at all
anymore, i cant say i like all electronic banking though,
i just enjoy my privacy i suppose.
Also to add here there is NO enslavement, this will keep
kids from having those blasted credit cards in the first
place, if i am tired of my prepaid card guess what i have
to do to get rid of it? i cut it up, toss it out and never think
of it again, so long as you didn't leave money on it then
your perfectly fine, once the company notices that
it hasn't been used for x amount of time for anything at
all, you haven't even checked your balance then they
will close it out, you don't ever owe them anything, you
cannot and i repeat cannot have a negative balance.
It can only ever have the money you put on it there,
it does not offer overdraft protection, a credit limit,
there is no % finance charge, none of that so you
can never ever get bad credit from it because your
not taking out credit at all.
edit on 3-3-2013 by bloodreviara because: to add