Credit and Debit Card Ratings

Prepaid Cards for Teens and Students

The Great Recession has produced a renewed dedication to financial literacy on all levels.  After the passage of the Credit CARD Act, many parents wondered how they were going to teach their kids to use plastic responsibly.  That’s where prepaid cards have come in.

One of the most important things for parents and teens to watch out for when selecting the right card are the fees.  In lieu of interest rates credit cards carry on balances, prepaid cards can be riddled with fees.  As a responsible and engaged consumer, you should teach your teen to thoroughly examine fee schedules before signing on.

Prepaid cards are a great alternative to cash allowances and offer convenience and security.  Your child can only spend the money that has been loaded onto the card and the funds are completely safe.  It’s a convenient way to manage and track spending in real-time and curb over-spending as they learn financial responsibility.

Most cards allow the user to set up alerts when the card balance gets low and view  real-time transaction activity.  The card can also be suspended if it is ever misplaced or stolen.  Setting up direct deposits are often free  and available in real-time.  Instant loads for emergencies are also available when your child is away from home for added peace of mind.

 

Category: Best Low Fee Prepaid Cards

Millions of people are turning to prepaid debit cards as a smart alternative to carrying cash and writing checks. Almost anyone can qualify and they don’t require a credit check or a bank account.

Though they carry credit card logos and can be used anywhere a credit card is used, unlike a credit card, they do not offer a line of credit. The user can only spend the amount that has been loaded onto the card or placed into the account associated with the card.

There are dozens of debit cards on the market, many of them issued by the same bank, but fee structures are vastly different. Bestprepaiddebitcards.com has done all the research for you and provides comprehensive reviews to help you decide which card is best for you.

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  • Prepaid Cards for Teens and Students

    Prepaid Cards for Teens and Students

    The Great Recession has produced a renewed dedication to financial literacy on all levels.  After the passage of the Credit CARD Act, many parents wondered how they were going to teach their kids to use plastic responsibly.  That’s where prepaid cards have come in.

    One of the most important things for parents and teens to watch out for when selecting the right card are the fees.  In lieu of interest rates credit cards carry on balances, prepaid cards can be riddled with fees.  As a responsible and engaged consumer, you should teach your teen to thoroughly examine fee schedules before signing on.

    Prepaid cards are a great alternative to cash allowances and offer convenience and security.  Your child can only spend the money that has been loaded onto the card and the funds are completely safe.  It’s a convenient way to manage and track spending in real-time and curb over-spending as they learn financial responsibility.

    Most cards allow the user to set up alerts when the card balance gets low and view  real-time transaction activity.  The card can also be suspended if it is ever misplaced or stolen.  Setting up direct deposits are often free  and available in real-time.  Instant loads for emergencies are also available when your child is away from home for added peace of mind.

     

  • American Express

    American Express

    The American Express Prepaid Debit Card offers the user the same convenience and security of a typical Prepaid Debit Card, but also offers benefits typically reserved for credit card users.  With features such as Purchase Protection, Roadside Assistance, Global Assist Services and Entertainment Access, American Express offers advantages not typically available with most prepaid debit cards.

    American Express is one of the few cards with no recurring fees.  Check out these features:

    • No Annual Fees
    • No Monthly Fees
    • No Customer Service Fees
    • No Transaction Fees
    • One Fee Free ATM Withdrawal Monthly

    American Express’ new prepaid debit card, Bluebird, presents some exciting opportunities to rack up points.  Points can even be earned on expenditures that you can’t ordinarily use a credit card for, like mortgages, insurance, and homeowners fees.  Like other prepaid debit cards, getting the card does not affect your credit.

    Bluebird doesn’t carry any of the usual fees for prepaid cards.  There are no transaction fees, load fees, ATM fees are waived when you set p direct deposit, and use a MoneyPass ATM, no foreign transaction fees and most importantly no bill-pay fees.

    You can load up to $10,000 on this card, unlike other prepaid cards with much lower limits around the $2,500 mark and it can be linked to a checking or savings account.

Credit and Debit Card Ratings