Comparing Prepaid Credit Cards

Over the last few years banking customers are seeing a surge of new products from Financial Institutions like the prepaid credit cards. The prepaid credit card concept follows a similar business model to that of the prepaid mobiles plans which has seen great success in US, UK and Australia. One of Australia's largest prepaid mobile phone companies has released their own prepaid credit card to enter the Australian market. The Bopo Visa Prepaid Card.

BOPO card customers offers their BOPO members to make transactions where ever VISA cards are accepted, Buy products online, Shop in Offline stores using their Credit Card facility, Withdraw from atm. More information about their feature here.

The Bopo Visa card is focused towards the Teen market, with agressive tv campaigns on MTV and teen magazines but the big question is whether these teen focus prepaid credit cards are setting these teenages for failure. With the current Australian Credit card debt hitting the $41 billion dollar mark, its going to take more than a special Prepaid credit cards for Teens to help them deal with financial responsibility. Companies like Bopo and Financial Institutions should work closer with Schools to develope better programs to be more financially aware.