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Prepaid Cards: Credit and Convenient

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I have noticed a lot of new prepaid cards on the market.  Just be sure you read all the fine print.  Do they have monthly fees, what is the cost to add more money to your prepaid card.  Thousands of people use these cards, the best prepaid cards are the ones that accomplish what you need. Is it for emergency, maybe you are going on a road trip and you don’t want to pay cash, giving your teenager money for a trip, need to book hotel reservations.  Prepaid cards car but a budgeting tool.  If you use them right, not impulse spending.   Banks charge fees for holding your money, so do prepaid cards, just get all the details and then get the best prepaid card for YOU.

Image via Flickr

Some of the better reasons to use a Prepaid Debit Card:

  • Allows you to budget your spending, you can’t go over the amount you put on your card.
  • You won’t get overdraft charges, or insufficient letters in the mail and mad merchants.
  • You can shop online.
  • You don’t need to have a credit report run on you every time you get a new prepaid card.

Found some interesting articles around the web for Prepaid Cards

Bottom Line – Despite ‘egregious’ fees, prepaid card sales soar

bottomline.msnbc.msn.com4/17/12

There’s a big change taking place. Many young people and those who want to avoid, or don’t qualify for, traditional financial products are choosing to use prepaid debit cards. A new study from Javelin Strate

Prepaid Cards Being Used Far More, Usage Up 18% While Debit

www.inquisitr.com4/17/12

When it comes to credit, prepaid cards foundered for a good while without catching on- but now prepaid cards are gaining a foothold among certain consumer.

Why Americans Like Prepaid Debit Cards

www.bankaholic.com4/17/12

The prepaid debit card market is exploding. Billions of dollars are placed on prepaid cards each year with annual usage …

Prepaid card use on the rise among Gen Y | ATM Marketplace

www.atmmarketplace.com4/11/12

More consumers are giving debit cards the go-by in favor of prepaid plastic. One in six underbanked customers and one in six Gen Y customers are choosing prepaid cards as their banking instrument of choice, a recent report

Here is an excellent discussion on Benefits of Prepaid Cards:

Reloadable Prepaid Cards

Blackhawk Network featured on 21st Century Business to discuss reloadable prepaid cards.

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About the Author

Rhonda Evans

Rhonda is the founder and editor of MoneyPoint Live. She is a retired Senior Chief from the USN, mother of two, previous small business owner, and entrepreneur.

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