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Credit Card Sets Limits for People in Addiction Recovery

Thursday, January 31st, 2013

credit card in jeans pocketThree men in recovery have created a new tool to build money management skills in people recovering from addiction. The Next Step Prepaid MasterCard is a general purpose reloadable card “designed to support people in early addiction recovery.” The card’s primary, virtual cardholder is a parent or guardian who loads funds, sets spending limits and tracks the card’s use through email or text message alerts. The actual card is issued to the person in recovery, who has a spending limit and is not able to use the card at bars, liquor stores, casinos, or to get cash at an ATM or store.

The card allows a family member or guardian to supervise finances, sets ups accountability structures, and places one obstacle in the way of a relapse. The developers of Next Step Prepaid MasterCard—Eric Dresdale,  Louis Fisher, and Ryan Jaffe—met in recovery and conceived the idea based on their personal need for financial boundaries when they were in the early stages of recovery. The card, which has a steep activation fee of $9.95 and a monthly maintenance charge of $14.95, is meant to act as a bridge to  financial responsibility and independence. “Use it, until you become independent,” Dresdale said.

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Source: New York Daily News Next Step Prepaid MasterCard was designed to help recovering addicts manage their money

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