Guide to Prepaid Credit Cards

Prepaid Credit Cards are the fastest growing segment in the credit card space. Their main appeal is that because they do not extend credit, you will not overspend and get into debt problems. They are ideal for folks who do not have a bank account but need the convenience of a debit card to pay for their transactions.

Editors Choice: Best Prepaid Credit Cards

The Walmart Money Card is one of the most popular cards of its kind thanks in no part to its brand and the fact that it is marketed a lot at their stores. It is one of the most cost effective cards as well. With only a $3 monthly fee and no transaction fees at all, most folks will find this card convenient also as you can reload the card at Walmart. Furthermore, if you direct deposit more than $1,000 a month, the monthly fee gets waived.

One of lowest cost in the market with just a $1.95 a month monthly fee. Issued by First California Bank, the Kaiku Visa® Prepaid Card should be one of your considerations.

Cash Back

The Upside Visa Card is one of the rare prepaid cards that actually gives card holders cash rebates from purchasing from merhchants on their online shopping portal (much like the Discover and Chase Ultimate Rewards program). This is actually an ideal card for the holiday season.

The Vision Premier® Visa® Prepaid Card - Simple and Fair is one of the rare prepaid cards that actually give you 1% cash back on gasoline purchases. This is actually better than many "gas cards" since you actually earn rebates in contrast to the gas cards that only allow you to use the card at their stations but you don't earn any rebates.

Free ATM Withdrawal Card

The Green Dot is one of the most popular cards around. They were the ones who own MoneyPak (places where you can load your card), and hence you will find plenty of places to load this card. What sets this card apart is that if you withdraw cash from their ATM machines, there is no fee. Most prepaid cards charge a fee for ATM withdrawal, so this is a pretty unique feature for such cards. If you are the sort that likes to withdraw cash and you do not have a bank account, then this card may just be for you.

Business

The Pex Card is one of the rare prepaid credit cards that are specifically designed for businesses. Because it was made for businesses, managing the card is easy from a dashboard where you can set employee limits, the types of merchants that the card can be used at etc. Below are other prepaid credit cards that are available to consumers today. Many of these cards have higher costs and fees than our recommended cards. Read the reviews before you apply.

Charity

The Ace card donates a portion of your spending to the National Breast Cancer Foundation. Aside from this, another neat feature is that the card can generate a new number each time you shop online for greater security.

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