Do you remember the movie, The Graduate, where Dustin Hoffman’s character Ben was given staunch advice on what future path he should pursue? It’s a famous scene that you can see here.

Who knew that this advice to go into Plastics was more prophetic that we could imagine!

Today when we look in the wallet of an average person living in this country, chances are you will not see cash of any kind. But you will see a whole lot of plastic—in the form of credit cards, debit cards, secured cards, prepaid cards, charge cards, gift cards, discount cards and on and on and on.

All of these cards are part of what is known as the payments industry, which has now dominated how we pay for items that we need or simply want even if we don’t really understand how these cards really work or the role they play in our total financial picture.

I want to talk to you about the fastest growing part of the plastic payment industry and really educate you on what’s going on out there.  Let’s say that you were suddenly laid off from your job or had an emergency medical bill to pay for you or a loved one. Now you have to start juggling a few things around to make ends meet. Along the way this financial strain causes you to bounce a couple of personal checks.

Now by bouncing only two or three checks, you may be entered into something called the Chex System. What this means is that due to these recent banking mishaps, you may accrue more charges for overdrafts and not having enough money in your bank account. And you may not even be able to have an account at a bank or a credit union. And without an account, you will not be able to get a debit card.

Follow me as this plays out. If you can’t get an account at a bank or credit union, chances are there is no way that you can get a credit card either. Oh, I know. Your wallet is full of plastic. But most likely you have maxed out your cards or defaulted on your bills by this time. So now you have no access to your plastic at all.

Currently, you are one of the millions of people out there who can’t get a credit card or a bank account. So how do you pay your bills or buy anything? The only alternative you have is cash.

Okay, so now you have to pay your gas and electric bill, your phone bill, your water bill and your rent. You would drive to these offices and pay some of these bills in person, but your car isn’t working or you don’t have the money for gas. You can’t mail cash, so you go to the post office and buy money orders.

If you’re paying at least 10 bills at $5 for each money order, you’re spending $50 or more per month to pay your bills. That’s over $600 a year and that’s a lot of money. And forget about paying bills online. They won’t take cash there either. And don’t even think about shopping online.

Are you doomed in this deep hole of financial woe? Not yet. I’m about to throw you a life preserver: The Approved Prepaid MasterCard®.

This card is simply a card that you put money onto or you prepay the amount of money that you use every month. It’s that easy. It’s not a debit card that’s attached to a checking or credit union account.

It stands all on its own.  No credit check. No background check. No bank that works like a checking account.

It will cost you a low $3 monthly maintenance fee.   

So what do you have to do to pay only $3 a month? It’s easy.  

•    Just deposit money on this card once a month. (No minimum required.)

•    Only withdraw money from an Allpoint® ATM or at the point of sale at a store.

•    Never go into a bank and ask to take money out.

•    Never check your balance at an ATM. (There’s no need to because you get texts* always telling you what your balance is. You can also check transactions online anytime.)

•    Don’t call customer service more than once a month.

•    Don’t request a paper check.

Not so hard if you ask me. And there you go. Don’t believe anyone else but yourself.  Try it and then you will know the truth: The Approved Card.

Is it that simple? You bet it is.  

*Standard text messaging rates from your wireless service provider may apply. The Approved Prepaid MasterCard is issued by the Bancorp Bank pursuant to license from MasterCard International Incorporated.  The Bancorp Bank; Member FDIC.  Use this card everywhere Debit MasterCard is accepted.  MasterCard is a registered trademark of MasterCard International Incorporated.