Prepaid Cards May Help Cardholders Overcome More Than Just Overspending Bad Habits
by Konrad Christensen
Prepaid cards are great tools for helping cardholders stay within their budgets; preventing them from spending more than what’s available in the account. Over time, prepaid cardholders will gain financial responsibility, allowing them to eventually take advantage of more mainstream banking products.
With prepaid card issuers doing anything they can to set their products apart from the competition, unique offerings have a way of rising above the noise of the market. One recent example is a new prepaid card designed to help its cardholders overcome dangerous addictions like alcoholism and drug use.
The Next Step Card was developed by a Florida man recovering from a prescription pain pill addiction. He recognized that he needed more than willpower to kick his bad habits. He wanted a way to ensure he couldn’t buy the pills. In an innovative move, he designed a prepaid card which blocked certain transactions to keep him from backsliding into old habits.
Here’s how it works: The Next Step Card can be customized to block transactions at ATMs, as well as at liquor stores, bars, casinos, escort services, tattoo parlors and piercing salons. The card requires a co-signer (a parent, family member or rehab sponsor) who can monitor the card’s use online and set spending and/or transaction limits as needed.