Remember we told you recently that the famous finance guru Suze Orman advice launched its own prepaid card? They are increasingly famous doing something similar with baseball player Alex Rodriguez, the most recent. But beware: Although prepaid cards are good in the sense that they do not let us spend more than we can be very expensive.

These prepaid cards involve fees and commissions and are often more expensive than a free checking account, which still offered by many banks. So if you’re considering taking one, the first thing to do is read the fine print very well (and remember that this letter is getting smaller). In addition to a monthly fee, you may end up paying extra for each purchase, for each withdrawal at an ATM and reload every time the money.

For example, the board approved by Suze Orman, charges a monthly fee of $ 3, further apart as much if not recharge with at least $ 20 in a period of 30 days. Oh, and pay $ 2 for each withdrawal from an ATM. For its part, the Dynasty promoted Alex Rodriguez RushCard offers several payment options. According to the company, under a monthly plan, one must pay $ 9.95 to buy the card, another $ 9.95 per month for use and other fees and charges for use at an ATM.

With all these costs and the danger of riding with a paying normal debit card can now be easily cloned, the idea of  paying with cash sounds more… Read More