Consumer Reports Money Adviser
Prepaid debit cards are exploding in popularity. They can be used to buy items in stores, online and to get cash from ATMs. However, Consumer Reports Money Adviser found some prepaid cards are much better than others.
The fear of someone stealing your financial information and going on a shopping spree has helped drive sales of identity theft protection services. Americans now spend an estimated $3.5 billion a year on these services. However, Consumer Reports is advising consumers to save their money.
It’s tempting to give gifts cards, but there’s a downside as up to 19 percent of those gift cards will never be redeemed. Consumer Reports says if you decide to go this route, pick your cards carefully and to think twice before giving them.