Awhile back we discussed Prepaid cards and why they’re a such bad deal for consumers. Look like American Express want to change that perception for PrePaid cards. Granted they’re doing it to increase the usage of American Express cards which they profit by the swipe network for retailers, the card is still a great deal for consumers who do not have access to regular credit cards.

The new American Express Prepaid cards have:

  • No monthly fees
  • No Foreign Transaction Fees
  • No fee on first ATM withdrawal each month
  • No fee to electronically load the card from checking accounts
  • No Activation fees
  • No inactivity fees

Basically, the card is totally fee free and in addition provides the user with the following benefits:

  • Protects against loss or stolen card charges if reported within specified time frame
  • 90 day Warranty and Return protection for goods purchased with the card

This is the best deal on the prepaid card front and can even be used by parents to teach their children responsible credit habits. You can sign up at the link below or read more on the NY Times website.

http://bucks.blogs.nytimes.com/2011/06/14/new-american-express-prepaid-card-is-light-on-fees/

AMEX PrePaid Card