Thursday, March 3, 2011

WOW!! Didn't know they had "Unemployment" Debit Cards?? smh...Times R Hard!!

By: Lurie Daniel Favors | TheLoop21
Mon, 02/07/2011 - 2:00pm

If you collect unemployment benefits -- (and with a more than 15 percent unemployment rate among African Americans, there’s a good chance that you do) -- the rules have changed.
But take it from me: they are not changing in your favor.
Some states are now issuing unemployment benefits on debit cards. And while there’s just something about a 2-inch by 3-inch, colorful, plastic little card in the hands of the average American that makes us want to swipe it, believe me when I tell you, that’s exactly where the trouble starts.
Prepaid benefit cards come with fees -- lots of fees. Which means banks are making money -- lots of money -- off of your unemployment debit card swipes. In fact, they are now making money from nearly every single swipeof your unemployment card.
If you don’t read your card’s fine print, you could end up paying for more than just groceries and bills.

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