Everything You Wanted to Know About Prepaid Debit Cards

If you've found yourself curious as to how prepaid debit cards work, then you're not alone. More consumers than ever are finding themselves intrigued as to how to use prepaid debit cards, which offer all the flexibility and convenience of normal debit and credit cards, without the hassle of late fees, sky-high interest rates and outrageous overdraft fees. Ready to become a prepaid debit card expert? Read on to find expert answers to all of your most pressing questions!

Do I need to go through a credit check to get approved? No! Prepaid debit cards offer bankers and lenders little credit risk to let you use one, as you load up your card's balance with your own money. However, prepaid debit cards are also a great weapon to have in your credit score arsenal, as they are just as important as regular debit and credit cards in determining your credit history. So if you use prepaid debit cards for up to a year or more, you're well on your way to skyrocketing your credit rating through the ceiling!

Can I use one for online banking? Absolutely! Prepaid debit cards are actually the preferred payment method for online shopping, as they don't pose as much of a risk when exposed to online thieves and hackers. If your prepaid debit card information is ever stolen, your loss is limited to the money that's on the card, as opposed to thousands of dollars on your credit card or worse, your debit card that's connected to your main checking account.

Can I pay bills with one? Of course! When it comes to paying bills, prepaid debit cards are just as good as debit or credit cards - which means that you can use your prepaid debit card for everyday household purchases and for larger utility bills!

Are there any overdraft or interest fees? None whatsover! The beautiful thing about prepaid debit cards is that you won't ever get charged an overdraft fee, as you're limited to the balance that's on your card - so if you try to purchase an item that exceeds your balance, your transaction won't go through.

Additionally, prepaid debit cards carry no interest fees, since your balance comes from your own money and not a bank's credit line.

If you're looking for a flexible and convenient way to pay your bills, shop securely online and bolster your credit history, then look no further than a prepaid debit card - so visit http://www.LifestyleDebitCards.com to get yours today!

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Prepaid Credit Cards - Common Questions and Answers

You may have some questions about the now popular prepaid debit cards that everyone is using for online purchases and more. These days these cards are finding more uses than ever. Although they started out at banks as a way to give people the gift of money for Christmas, these cards have become an entire industry of their own - you no longer limited to getting them at banks.

You can find these cards in a vast assortment of stores as well as many different formats. Each card has its own theme and features. Many companies are producing these prepaid cards with features to compete in the market and to get you to use their card.

Some of the most asked questions are:

• Where do I get prepaid cards - are they only found at banks?
• How do they work and how much do they cost?
• How old do you have to be to get one?
• Can I use a different name than my own so if I lose it I don't risk identity theft?
• Is my money on these cards protected and insured against fraud or theft?
• What happens to the money if my card is stolen or I lose it - can I get it back?

These are all very good questions and the answers are very simple. The prepaid card works exactly like a bank debit card. You are protected against fraud and theft. If you lose the card the money is insured, an investigation is done and your money is returned to you if your card is stolen or a company charges your card without your permission.

The benefit of a prepaid card vs. a bank debit card is you can get them completely anonymously and this protects your identity online -- and if you lose your card you don't have to fear identity theft, not to mention the fact that your money is not lost. You call and get the number deactivated just like a you can when a debit card lost. Many of these cards can be used like an ATM card meaning you can withdraw money from an ATM machine with a security pin number as well.

Prepaid credit cards are available over the counter at most banks, stores like Wal-Mart, and even 7-11. There are even prepaid cards you can purchase at your favorite stores much like a gift certificate -- in fact most stores have replaced the gift certificate with prepaid "gift cards," some of which work exactly like a debit card including having the Visa or MasterCard logo. Many of the mail-in rebate companies now use prepaid debit cards to pay you your rebate instead of sending you a check to make it easier to access your money.

Hello! My name is Hwang Keum-Ok. Plenty of people have questions -- lots of them -- about prepaid credit cards. Did you know there is a website that is devoted to giving you unbiased information on prepaid credit cards? You can find it at: http://www.Prepaid-Credit-Card-Reviews.com

You will find lots of practical and useful information there -- in an easy-to-understand format. That website again is: Prepaid Credit Card Reviews If you need to find a good prepaid credit card, I encourage you to check this site out first!

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What are the benefits of getting a prepaid debit card?

Prepaid debit cards and pre-paid credit cards can help you control your spending. A reloadable debit card allows you to only spend up to the amount you have pre-deposited into the account. If you tend to overspend or like to control your spending, then a pre-paid debit card could be a good choice for you. Also, if you have bad credit and can't get an unsecured credit card, a prepaid debit card is also a good choice. To apply or learn more, you may go here: http://www.creditcarda-z.com/prepaid.asp

Understanding Prepaid Debit Credit Cards

Credit Card Company's experienced greater losses during the middle 1990's and had to look at an alternative of securing debts. This is when the secured credit card came out and the prepaid debit card was close behind it. Several credit card companies like Visa, American Express and Mastercard issue prepaid debit cards. Funds are added through an online bank or at a retail store to the prepaid debit card. The prepaid credit card works similarly to the prepaid phone card. Cash has been put on a prepaid debit card so the funds are easily accessible electronically. The amount deposited is the limit these cards have. The amount on the prepaid debit cards decrease every time it is used until there are none left.

A wide variety of benefits come with prepaid cards. Not only are they safer for people to carry than cash but they are usable in all countries of the world depending on the company that you get the prepaid debit card from. Some banks and Mastercard, American Express and Visa all offer these cards.

The fact there is no debt or monthly credit card bill to worry with is another benefit. Regardless of past credit if you are over eighteen you can have prepaid debit cards. Since the funds are put on the cards before it is issued even those with bad credit can access them.

As long as there are available funds a prepaid debit card can be reloaded over the phone or online. When on vacation or traveling for business funds can be accessed electronically with ease. Prepaid debit cards are now used by companies in the place of company credit cards or expense accounts.

The fees can be outrageous just like with any other type of card. Fees are associated with acquiring the card, reloading it, going over the limit, cashing out the card and even if you chose to cancel it. Check around to find the company with the best deals since it is better to use cards with fewer fees. Five dollars is the average cost to reload a prepaid debit card so repeat reloading should be cut down on by adding sufficient funds.

A PIN number is the only way to access funds on a prepaid debit card. Never let anyone know what it is and change it regularly. In case the card is stolen or if someone gets access to the PIN number it is best to have a daily maximum put on the card by the bank.

For those that cannot get credit cards due to poor credit history preventing them from obtaining them the advantages of the prepaid debit card are more than the disadvantages. Just like any other card it is vital that prepaid debit cards are used responsibly. They can be loaded repeatedly until the funds in the bank are depleted. This type of disaster can be avoided by keeping careful track of purchases.

Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards A Free consumer credit card comparison site helps consumers find the Best Credit Card while avoiding high interest rates, charges, and fees.

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5 Tips for Choosing a Free Prepaid Debit Card

Many families and individuals are looking for ways to save money and manage their finances. But with everything that seems to be necessary, this can be difficult to do. And this is where a free prepaid debit card can help take the hassle out of money management and keep some change in their pockets.

1. Easy to use

When you first decide to look for a free prepaid debit card, you’ll want to be sure that you understand the way that it works. While some consumers will find that a free prepaid debit card is just like a credit card, you may still want to go over the fine print of the agreement that you will be signing.

Many free prepaid debit card companies are more than willing to discuss the way the system works either by phone or via email. Go to the free prepaid debit card company’s website and read the various informational articles to see where your needs are met and where they might not be.

2. Tracking tools

In order to be able to manage the balance on your free prepaid debit card, you will want to receive some sort of statement or be able to watch transactions as they occur.

Or you might feel that an online tracking service works better for you. A free prepaid debit card that allows you to manage and observe your balance constantly is the best choice for using the free prepaid debit card wisely.

3. Acceptable anywhere

While most free prepaid debit cards are accepted anywhere the Visa or Mastercard logo is taken, you need to be sure that there aren’t other stipulations that you might have to understand.

Try to find a list of retailers that accept the free prepaid debit card that you are looking into before signing up. You wouldn’t want to get a card that you can not use.

4. Moderate fee system

While the point of a free prepaid debit card is to have no fees at all, you must understand that in order for the free prepaid debit card company to make money, there are fees for general use. Check to see if these fees are in line with what you can afford and are willing to pay.

5. FDIC insured

And lastly, be sure to look for a free prepaid debit card that is insured. This feature will make sure that your money stays on the card and is able to be used by you at any time.

A free prepaid debit card can be just the tool that you’ve been looking for to manage your finances, but be sure to follow this advice to ensure that you’ve chosen the card that fits you.

Beth Derkowitz recommends Find Credit Cards for finding a free prepaid debit card.

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Prepaid Debit Card - Guaranteed Approval

The difference between a credit card and prepaid debit card is that with a credit card you are borrowing the money to pay back later, while with a prepaid debit card you are subtracting your own money being held at the financial institution.

Most people realize that it's almost impossible to get by without a credit card of some sort. Yet, there are millions of American families that have no bank account and no credit card. They often pay their bills either in cash or by money orders. For these people, a prepaid debit card may be the answer.

A prepaid debit card looks just like a regular credit card and normally carries a credit card logo such as Visa or MasterCard. Retailers accept these just like any other card. The difference is at the time you use the card, it is instantaneously deducted from your funds on deposit with the your bank.

Advantages of a prepaid debit card are that it's safer than carrying cash, it is accepted throughout the world where the credit card logo is displayed, and you can use it to pay bills by phone or online. You can also keep track of your funds for free on the internet. Prepaid debit card offers can include rewards programs and overdraft safety.

Obtaining a prepaid debit card is easier than applying for a credit card, especially with an easy online application. The approval is guaranteed as there is no credit check and no employment is required. After applying for a prepaid debit card, you can receive your card in as little as three days.

There will be billions of dollars spent this year using prepaid plastic, including gift cards and renewable debit cards. To those who don’t want to worry about owing money or paying a bill, and still others who have less than perfect credit, a prepaid debit card may be the ideal choice.

About the Author: Bradley Carson is the webmaster and editor of Apply Online For a Credit Card at http://www.cards-king.com A website created to bring concise information about credit cards and a wide variety of credit card offers from premier financial institutions. See our latest list of Prepaid Debit Cards.

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