Prepaid Credit Card Reviews

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Prepaid Credit Cards

Prepaid credit cards give you the flexibility of a credit card without the hassle of credit checks, contracts and expensive interest charges. You can use your prepaid credit card to buy anything you would typically pay for with a Visa or MasterCard, such as online purchases, dining out, bill payments, shopping, and more. Prepaid credit cards even make great gifts as they don't tie someone to just one store or a specific gift.

Getting a prepaid credit card is easy. You simply purchase the size of the card you'd like, along with an upfront activation fee. You should be aware that many prepaid cards eventually decline in value after several months of non-use, so you'll want to use your prepaid credit card once you get it.

When shopping for a prepaid credit card, there are several factors you hsould consider. Some of these include:

  • Denomination. Some prepaid credit cards come in predetermined amounts, while others let you choose exactly how much you want to spend. Choose a card that fits your needs and keep shopping if you don't initially find it.
  • Fees and penalties. Most prepaid credit cards charge an initial activation fee. Since these fees can vary widely from card to card, you should be aware of them before signing up. Yoiu should also find out if the card has an expiration date, and what charges might occur if the card is not used within a certain period of time.
  • Type. Prepaid cards come in MasterCard, Visa, American Express and more. Make sure that the prepaid credit card type will work with your spending plans.

TopConsumerReviews.com has reviewed and ranked the best prepaid credit cards available today. We hope these reviews help you find the prepaid credit card that best fits your gift giving or personal use needs!



Advantages of Prepaid Credit Cards

If your credit is imperfect, you have a teenager or young adult that needs access to a Visa or MasterCard or you want to better control your spending a prepaid credit card is a great option. Credit cards not only make for convenient shopping but are also mandatory in many scenarios where a Visa or MasterCard must be made available. For example, shopping online, renting a car, or making reservations all require a credit card and asking someone else to help you out, each and every time, can be embarrassing.

Here are some advantages of a prepaid card:

No Interest
Many prepaid credit cards exist today that look and feel just like a credit or debit card. Withdraw cash at ATM's, upload a payment via the phone, establish direct deposit, speak to a customer service representative and more. But very importantly, there's not interest charges. Fees due exist and must be looked at closely but you'll never be charged interest for using your preloaded credit card.

No Credit Check
If you've had some financial challenges in the recent past or simply don't want another credit check to be reported to the credit agencies - a prepaid card is the place to go. With the balances being prepaid, no line of credit being issued, there's no need for any prepaid credit card company to ask for your social security number or inquire about past credit issues.

No Overspending
Whether you need help sticking to a budget or you're child does, a prepaid card is the card for you. Prepaid cards only have the balance available that you load on the card at the onset. There's no spending more than you should on an impulse buy or running over your credit limit with a prepaid card. Many people use these cards in place of debit and credit cards to stick strictly to their budget. Parents often send prepaid cards to their college students to help them out financially but without the risk of a credit cards and irresponsible spending.

No Contracts
You aren't bound to a prepaid card via a contract. You simply load the card and spend as you so choose. You may reload the card as needed and continue to use in the future.

Gift Giving
If you aren't sure what your friend or family member wants or needs next Christmas or birthday a prepaid card is a great option. Loading the prepaid card with your gift contribution allows them to buy exactly whatever they want. No returning gifts with a prepaid card.

In summary, a prepaid card offers several perks over a traditional credit card. Many appreciate the budgeting aspect while others enjoy no contracts or accrued interest. Either way, prepaid cards offer a lot of flexibility no matter what you need the card for.

 



Prepaid Credit Cards In The News

Credit and Debit Cards May Be Adding a New Element: Fingerprints

Everyone knows the future of payments is digital. Trouble is, Americans just don't want to give up plastic. Tech companies, banks and fintech startups have all tried to wean consumers off physical cards. Attempts have included digital wallets and various ...

Published:  Tue, 19 Jun 2018 23:19:00 GMT



Debit card transactions have officially surpassed cash payments in the UK

This story was delivered to Business Insider Intelligence "Payments Briefing" subscribers hours before appearing on Business Insider. To be the first to know, please click here. Debit card transactions surpassed cash payments in volume for the first time ...

Published:  Tue, 19 Jun 2018 07:16:00 GMT



Wells Fargo debit card customers in Virginia experiencing fraudulent Amazon charges

RICHMOND-If you're a Wells Fargo customer, you might want to check your debit card transactions for fraudulent charges from Amazon. Several bank customers across Virginia have reported fake transactions from the online retail giant in the past month.

Published:  Wed, 20 Jun 2018 21:04:00 GMT



College Station man charged in stolen debit card case

A College Station man was arrested Monday on a November warrant connected to a stolen debit card. According to College Station police, a man called authorities in November to report that his friend, Robert Scott Tharp, 22, had stolen his debit card ...

Published:  Tue, 19 Jun 2018 23:52:00 GMT



Man wanted for using stolen debit card

The North Port Police Department is looking for a man who stole someone's wallet and then went on a shopping spree. The suspect stole the victim's wallet from his truck earlier this month then used to the debit card at several stores along Tamiami Trail.

Published:  Tue, 19 Jun 2018 23:48:00 GMT



UK debit cards transactions overtake cash for the first time

Debit card payments have overtaken cash as the most popular form of payment in the UK for the first time, according to banking industry figures. Load Error Consumers used their debit cards 13.2bn times last year, up 14% compared to 2016, according to a ...

Published:  Sun, 17 Jun 2018 22:01:34 GMT




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