NBPCA offers branded prepaid cards to help students manage their spending

image The Network Branded Prepaid Card Association (NBPCA) supporting the growth and success of network branded prepaid cards, is now offering branded prepaid cards for the millions of college students in a move to manage personal spending as an increasingly important priority. Thus, starting this fall the cards with an American Express, Discover, MasterCard or Visa logo will appear, as excellent financial tools for budgeting, safe spending and the avoidance of debt.

Thus, NBPCA offers the following tips to college students and their parents , preferred a network branded prepaid card:

  • Understand the terms and conditions. Read the information that comes with the card. The information may appear on the card itself, the accompanying sleeve or envelope, in the terms and conditions, on the issuer’s website or another custom website. Pay special attention to fees (if applicable) and when those fees are charged. Also, check the card’s expiration date and policy.
  • Record the card number and the customer service telephone number. Keep the information in a safe place.
  • Familiarize yourself with the security and loss prevention features of your card. The value associated with your card can be recovered if the card is lost or stolen. If it is lost or stolen, report it to the customer service number immediately. The brand mark on network branded prepaid cards provides added security not available with checks and cash. If the card is lost, stolen or used for purchases without authorization, it may be reissued and the funds replaced.
  • Check your card balance. Most cards offer a phone or online option to do this. Some cards even offer balances through text messages. And, if you’re making a purchase that’s more than your card balance, tell the cashier in advance.
  • Load funds and track your spending regularly. Loading funds onto the card in advance helps you stick to a budget. Developing a disciplined approach to manage spending and your balance (through email, text alerts, etc.) will help keep you on track and provide fewer surprises for Mom and Dad.
  • The brand mark on prepaid cards gives an extra security not available with checks and cash. In case the card is lost, stolen or used for purchases without authorization, it may be reissued and the funds replaced. Some cards even suggest balances via the text messages. Loading funds to the card in advance helps students stay in control, reducing the risk of overspending, overdraft fees and running up debt.

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