American Express, which is trying to expand beyond the affluent customers it normally lends to, is testing the sale of prepaid cards in some Wal-Mart stores. The New York-based lender is marketing the reloadable cards, which can be used wherever American In what seems to be a further attempt to reach out to underbanked Americans, American Express is very excited about the launch of the new Prepaid Card, which has no monthly, recurring or maintenance fees. The underbanked population is a $200 billion market The Wal-Mart (NYSE: WMT ) and American Express (NYSE: AXP ) prepaid Bluebird card can now boast that it's FDIC-insured. While the $250,000 coverage may make some users more at ease, other benefits that come with being FDIC-insured could attract a swath of Prepaid cards have entered the mainstream, many providing convenience and functionality that come close to that of checking accounts. Consumer Reports has rated 26 prepaid in four categories: value, convenience, safety and fee accessibility, and clarity. American Express has announced it's joining the fast-growing $65 billion prepaid card business. Aware that the industry is laden with fees and has its fair share of critics (including me), the company's marketing campaign is stressing how consumers will Kai Ryssdal: Prepaid debit cards get a pretty bad rap. They're loaded with fees: fees to get the card, to use the card, to close the card. Today, American Express announced a prepaid card that eliminates almost all those fees. Why? Would ya believe: fees? .
According to the Network Branded Prepaid Card Association, Americans spent about $37 billion on debit cards last year—doubling the amount from 2009. And now American Express is cashing in on the growing trend. Late Monday, the financial institution NEW YORK (AP) — American Express is rolling out its first prepaid card aimed at the general market on Tuesday as it moves to stake a claim in the growing industry. The announcement marks a notable departure for the company, which is known for catering to American Express Targets New Card for Video Game Players (LowCards) In an effort to attract new and younger consumers, American Express Company (NYSE:AXP) has launched a line of prepaid cards in association with the online video game, League of Legends. The five best cards, as rated by Consumer Reports: • Bluebird with direct deposit, from American Express and Walmart • H&R Block Emerald Prepaid MasterCard • Green Dot • Approved Prepaid MasterCard with direct deposit, from Suze Orman • Approved .
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