This week the experts from Credit.com contributed to a wide range of publications. Check out the hits…
The big news this week at Credit.com is the new Bluebird prepaid card. Credit.com Editor in Chief Michael Schreiber spoke to Reuters about the recent jump in bank fee revenue even in the face of federal fee restrictions put on banks. He proposes that the new card could help some consumers save money and offer them access to credit that they may not have had in the past.
Credit.com Co-Founder and Chairman Adam Levin further explores the benefits of the Bluebird card for American Express, Walmart and for consumers. He mentions that people who were previously unable will now have access to the convenience of using a card, fraud protection and a money management tool. He’s not as enthusiastic about the inability of consumers to build credit on this pre-paid card, but is still hopeful that this type of card could be a link to a better financial landscape.
Credit.com Director of Consumer Education Gerri Detweiler spoke to ABC News about the Bluebird card that’s being offered by American Express and sold at Walmart. She believes that this will be an attractive card to many seeing that American Express is viewed as an upscale card and will now have a very broad distribution. She believes that this program may finally be the prepaid alternative to bank cards with hefty rates and fees.
@Gerridetweiler @ABCNews @skimm
Gerri also spoke to the Detroit Free Press about the new Bluebird card’s competitiveness due to low fees. She explains how this is a good alternative to a traditional charge and debit cards for people that just want to avoid checking account fees all together. She sites people who may just want to be able to make online purchases without so much commitment to a charge account.