Source: Nancy Trejos, Washington Post ( Free Registration )

Consumers are increasingly turning away from traditional bank accounts and credit cards in favor of a different form of plastic: prepaid cards.

Consumers typically buy them from a retailer, load them with money - sometimes from directly deposited paychecks - and use them at checkout counters or to pay bills online. And the cards are advertised with a phrase rarely used by financial institutions since the beginning of the credit crisis: No credit check necessary.

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