Prepaid Debit Cards function just like regular credit cards as they can be used at stores, to shop online, or to withdrawal money at atm’s. You can enjoy the same financial freedom with a prepaid debit card sponsored by Visa, MasterCard, American Express, or Green Dot Cards as you can with a debit card from a bank.
How are prepaid debit cards able to offer the same features? Well, they are almost exactly the same as having a checking account or credit card. You will have to register an account with the company like Green Dot or Walmart MoneyCard with your personal information.
The major difference is that instead of you being given a limit by the credit card company, you can only spend the balance that you put on the card. You will have to deposit money onto the card in order to make purchases, but this is a very easy feature and can be taken care of by having your paycheck directly deposited onto the card.
Prepaid Debit Card Benefits
- No Overdraft Fees – You will never have to pay an overdraft fee again! Some banks will charge you $35 or more every time you spend more than the balance that’s available on the card.
- No Late Fees – There are no payments that need to be made on your prepaid debit card. You will not have to pay any late fees for missed payments at any time during your ownership of your prepaid card.
- Online Bill Pay – Use your prepaid debit card just like a credit card to pay your bills like cable, electricity, water or rent all online from the comfort of your own home.
- Rebuild Your Credit – Most of the major new prepaid card companies offer a free credit builder option where people with less than stellar credit can rebuild their credit score. A better credit score will grant you the financial freedom that you are looking for in life.
Bank Of America Prepaid Card
You can withdraw money or reload your balance any time and anywhere you desire. There are some service providers of prepaid cards that offer exciting benefits to their devoted cardholders who often use their cards. Really, these amazing prepaid card offers are the best way to increase the level of your credit scores.
As per our new research report ?Indian Payment Card Market Forecast to 2012?, the Indian prepaid card industry has been experiencing sizeable growth on account of government regulations. The government authority, mainly RBI has drafted regulations keeping in mind the agenda that these regulations should further promote the Indian prepaid credit card market. Hence, the RBI recently has brought close and semi-closed loop cards under Payment and Settlement Act. In addition, RBI is planning to allow withdraw cash from POS terminals with the help of prepaid cards. This will further help in boosting the prepaid credit card market in the country.
Be sure that you carefully read the terms and conditions set forth by the issuer of prepaid cards for teens so you fully understand the fees, terms of service and the way it works. They do differ depending upon the issuer. Prepaid cards for teens are an excellent way to teach financial responsibility to teenagers without having to worry about going into debt or paying interest rates.
As more consumers struggle to find ways to get themselves out of debt, prepaid credit cards are quickly rising in popularity. Prepaid cards are easy to use and are typically a much more affordable option than traditional credit cards. Before you pick up a prepaid credit card for yourself, be sure to take time to find one that has all the features you’ll need. If you were shopping for a traditional credit card, you’d research the various benefits and features of each card. There’s no reason not to do the same for your new prepaid Green Dot credit card. Consider these great options available especially for students, bill-paying and online shopping.
Throughout the world, preferred methods used to buy goods or services online vary from country to country and region to region. In addition to merchant accounts for credit cards, international payment processing options include direct debit, local bank transfers, mobile billing, prepaid cards, e-wallets, and cash vouchers.
Some of the service providers give additional services also. For instance, in case of postpaid services, they have tailor-made rental plans for the consumers and also allow them to get itemized billing. Round the clock customer support and coverage over other countries are some of the other services that are offered by these service providers. If you opt for prepaid cards then you can enjoy lifetime SIM warranty and can get the card recharged online.
Student Card Before your teen heads off to college, set him or her up with a prepaid student card. The popular student version of the Green Dot credit card makes it easy for students to manage their money and keep track of their finances. No matter how busy their class schedules get, they’ll always be able to find the time to monitor their accounts through Green Dot’s convenient mobile application. Student cards make great graduation presents and are perfect for students of all ages. Best of all, students can use their prepaid cards for everything from textbooks to late night pizza deliveries. They’ll never have to worry about being caught without cash.
There are synonymous terms that people commonly refer prepaid cards for teens as including preloaded cards and debit cards for teens. These terms are usually used interchangeably to describe the same thing. Some prepaid teen cards also have parental controls that allow parents to monitor the spending activity of their children. They can also make deposits to the card as well.
If you are traveling to another country then you can contact a company that can provide you with the USA SIM card prepaid or with SIM cards for other countries. There are companies like Clay Telecom that deals with international roam services and offer prepaid cards for different countries. Buying the phone card in advance through such companies allow the travelers to save Forex as he can pay for it in the local currency. They won’t have to look for new number when they land and can be in touch with everyone easily.
Some cards, such as the UPside Visa Prepaid Card, are marketed as being for teens. These are a good alternative if you give your teenager an allowance. It’s safer than carrying cash and safer than allowing them the use of a credit card, they can make purchases online (where they spend a lot of time anyway) and in many cases they can still begin to build a good credit history. And you can actually log on and see where your child is spending.