The Prepaid Card Mine Field

Seriously, who doesn’t want a prepaid card sponsored by the self-proclaimed “best rapper alive” Lil’ Wayne, the hip-hop and clothing mogul Russell Simmons, or the internationally acclaimed personal finance expert Suze Orman? With these celebrity endorsements, prepaid cards have become big business – but are they really a solid investment? Most people think all they have to do is put money on the card, spend the money until it’s gone and then refill the card when you get around to it. But we know better than to think it’s really that easy, right?

When you first look at prepaid cards they seem like a good idea, and an easy alternative for those who don’t qualify for a traditional credit card or bank account. The star-studded celebrity endorsements look to add credibility to the deal, but underneath all that, there is a mine field of hidden fees. This interactive, reminiscent of the now classic Windows Minesweeper game, looks to illustrate the cost of these fees, and which celebrity card is the worst.

Check out the interactive below, or a full version here.

via: Credit Sesame

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