Prepaid Cash Cards Tips

Anyone who surfs the net or watches television is bound to come across an advertisement for any prepaid debit card. Initially, these types of cards were created for the credit score challenged – those who had poor credit and no other means to get any type of credit card and they were often associated with low-income or unemployed people. Today, people are finding that prepaid bank cards are quick and easy to use.

You can send money to someone across the country without having to use your interest bearing credit cards. Exactly like credit cards, you can use these cards anyplace that displays the MasterCard or even VISA logo. You can also use them in certain ATMs (depending on the card) to withdraw money.

What’s the?

A credit card gives you a line of credit, which you have to pay back. A prepaid charge card is loaded with a specific amount that you put on it and that establishes your spending limit.

Eliminate fraud

With advancing technology and the growing number of identity thefts, using a pre-paid debit card is an easy method to make purchases or send money without revealing your personal information and because these cards will only allow you to spend everything you have put on them, even if your own card gets lost or taken, they thief will only be able to gain access to what is available on the card.


Pre-paid debit cards are a perfect way to assist teens develop good spending practices. Parents load a certain amount of cash within the card (perhaps even their allowance) and when it’s gone, it’s gone.
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This is great for young teens vacationing away from home.

College students

For students who are away at college, parents can load money on the card getting rid of the need to send checks, worry about overspending on charge accounts, or overdrawing bank accounts.

Sending money to other people

A prepaid cash card is really a convenient way to send money to others. Cash is risky and not recommended. Local money transfer retail places can be expensive. Money orders plus checks, they have to go to the bank in order to cash. With a prepaid card – they receive the card, activate it, and they are all set. If you send money in order to someone on a recurring basis, you can load the card from your location and they will receive the funds on their card. It just doesn’t get any simpler than that.

Picking the right card

Although most cards all operate a similar fashion, some have their own stipulations. Here are a few things you should check out before choosing your card.

Can there be an activation fee?
Is there a fee to load money?
Is there the fee to withdraw money?
Can there be a certain amount put on “hold status” in the event that used at a gas station? (Some hold as much as $50. 00 till the payment clears).
Can I reload the card online?
These are just a few of the frequently asked questions. Be sure to carefully review all the information before you decide on a cards.