JACKSON, Mich., Feb. 26, 2015 /PRNewswire/ -- Consumers Energy is warning customers about a scam that includes a high-pressure demand for quick utility payments over the phone using a prepaid credit card. "Imposters are ramping up efforts in Michigan and It's basically like you've prepaid for your items and are getting the rewards on your credit card." Read the fine print. Not everyone does this, Harzog says. "You need to read all of the terms and conditions or you might spend money, thinking you're Investigators believe the suspects used stolen credit cards to purchase pre-paid gift cards at local businesses. Detectives arrested Maikel Rodriguez, 32, Yenisleidys Sarduy, 26, and Johan Rondon Rodriguez, 36, on charges of fraudulent possession of The suspects, using stolen credit card information, would go to local business and purchase pre-paid gift cards. They would then use the gift cards to make further purchases. Detectives arrested three suspects yesterday [Tuesday]. It looks like a credit card and spends like a debit card. But a reloadable prepaid card is in a class by itself. Sometimes called "prepaid debit cards," or (less correctly) "prepaid credit cards," reloadable prepaid cards are an exploding market. This is an important distinction because reloadable prepaid cards are not covered by the Credit CARD Act's rules for gift cards, while true gift cards -- even those that carry the American Express, Visa or MasterCard logo -- are. Gift cards: Cards that are .
PHOENIX -- Have you ever used a prepaid credit card? If you have, you're not alone. Many consumers find that prepaid cards help them stick to a budget. But as convenient as prepaid cards are, there are pitfalls to using them sometimes. Just ask a Valley Recent regulations have made it harder for credit card companies to prey on people with no credit history (like college students and immigrants)—a good thing. But what if you do want a credit card and to establish a credit history? Forbes suggests Prepaid debit cards have become a $5 billion industry that has experienced about products issued by financial firms that pay colleges to promote their cards. The Credit Card Accountability, Responsibility and Disclosure Act of 2009 forced credit Whichever method (prepaid card, checking account or student credit card) you decide is right for your teen, discuss finances regularly and openly. A card cannot teach good money habits — only you can. Discuss your options with your teen, and decide what .
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