2024 General-Purpose Reloadable Card Program Scorecard

The 2024 General Purpose Reloadable Card Program Scorecard provides a consumer-based look at the competitive reloadable open-loop card market. Cards in this market represented a total load value of $234 billion in 2023 and continue to grow at a compounded rate of 7%, according to Javelin Strategy & Research data. The cards serve as an important entry point for consumers who are shut out of traditional credit and debit card programs and also serve as a source of additional account access for those looking to budget their regular spending. Javelin’s research highlights top consumer sentiments regarding features important to reloadable card users, with primary concerns relating to starting and recurring costs, card security, card access, and accessible technology. 

The Serve Cash Back card won Best in Class status in the ranking of 10 of the most popular card programs. Although the Serve card was not the top program in any of the three evaluated categories, its consistency as a top-three card in each lifted its overall score. The Target Circle card, ranked second, utilizes its strength as the top card in the Ongoing Experience category, which made up for a lower ranking in Additional Benefits and Features. PayPal’s prepaid card follows a model similar to that of the Serve card and ranked in the top four of each category, bringing a consistently strong result to match consumer desires. 

The scorecard covers 51 criteria in three categories: Ongoing Experience, Costs, and Additional Benefits and Features. Ongoing Experience is weighted at 50% of the total score for each card program, with Costs and Additional Benefits and Features accounting for 25% each.

Key questions discussed in this report: 

• What categories determine positive consumer experiences with general-purpose reloadable cards? 
• Why is it important for card programs to build through the consumer perspective? 
• What can general-purpose reloadable card programs do to reduce consumer friction? 
• What can administrators of prepaid card programs learn from peer programs?

Companies Mentioned: 

American Express, Bluebird, Fiserv, Green Dot, InComm, Mastercard, Money Network, Netspend, Pathward, PayPal, Serve, Target, The Bancorp Bank, Visa, Walmart, Western Union