Prepaid Debit Card Reviews, Complaints, Etc

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  • Should you give a prepaid debit card to your teenage kid?

    Should you give a prepaid debit card to your teenage kid?

    Did we ever dream of getting ourselves a prepaid debit card when we were a teenager? I bet we didn’t since we hardly earned enough money to meet expenses on time and protect our financial records from harm. Nor did our parents get allowances or expect anything. However, times have changed.  Nowadays all kids have their own phone and even get certain allowances from their parents.

    This is the reason teenagers should be allowed to use prepaid debit cards instead of using cash.  They need to learn to manage their money—and you need to be able to help. A prepaid card allows you and your teenager to track spending at a glance. Although there are high fees associated with some prepaid cards, they’re certainly safer than credit cards for those new to plastic.  And, with a little research you can find a card with minimal fees for your intended usage.

    Know the benefits touted by the prepaid debit card issuers

    Prepaid debit cards offer a number of benefits. If you want to gift your teenager with such a card, have a look at some of them.

    • Financial education tool: Many parents love to gift their teenage kid with a      prepaid debit card as this poses to be a great financial tool. Teens can get a firm grip on budgeting by using a prepaid card since they have to manage the prepaid amount on the debit card.       It helps them understand the connection between swiping plastic and actual money.
    • Debit cards are safer than cash: A teenager is certainly going to be less responsible than an experienced adult.  Since a prepaid card is typically safer than cash it’s usually a better option.  Even if he loses the card, it’s unlikely that he’ll  have to pay anything for unauthorized use of the card.
    • Ensures peace of mind:      As a parent, you must be worried about your teen and his debit card while he is traveling. But when he owns a prepaid card, you can be sure he has more protection than when traveling with cash.  Knowing you’re able to add funds almost      instantly in case of an emergency should also help ease your mind.
    • Ensures financial independence: Using a prepaid card will allow your teen to make responsible purchases without borrowing money from a financial institution.  He also doesn’t need to carry a lot of cash if he has a single debit card.
    • Debit cards are flexible: Most students love the flexibility of the debit cards since they can use it almost anywhere; including online.
    • Students love the security: The fact that your teen alone can use the card and no one else can use it as the online account information is protected, entices most students. They love this feeling of security, and it can also grow their sense of responsibility.  However, you have the ability to monitor their spending on most cards if you’re not ready for your teenager to have that much freedom just yet.

    If you’re worried about the exact age at which you should get him a prepaid debit card, the decision entirely depends on you. Each child matures at his own pace, only you know when he is responsible enough to learn to use plastic.  Use prepaid debit cards to avoid the risk of overdraft fees and debt.

     

  • Approved Card From Suze Orman

    Approved Card From Suze Orman

    If you find yourself among the unbanked or under-banked a prepaid debit card may be the checking account alternative you are looking for. Suze Orman has recently launched her Approved Card – a prepaid debit card that is supposed to be better than the competition. But is it really? Does it have low or no fees?

    Suze Orman says about the Approved Card, “It’s the single most important thing I’ve done in my whole career.”

    She says it’s a better way to bank.

    It is safer than cash, comes with no credit checks, no check cashing fees, no bank account required, no overdraft fees, no interest charges and it is easy to load and use.

    The Appoved Card (http://www.theapprovedcard.com) also comes with free identity theft protection, free Transunion credit reports, credit scores and credit monitoring. These features are not seen on many of the best prepaid debit cards. You can expect to see services like this included because Suze Orman is a big proponent of keeping an eye on your credit report and score.

    So let’s talk about getting this prepaid debit card’s fees. You will have to pay $3 to purchase it. This fee is lower than most other prepaid debit cards. And then you have a $3 monthly account maintenance fee with the first month waived. Compare this to other cards which can run from no cost per month all the way to $9.95 a month.

    You can get free ATM withdrawals at over 35,000 Allpoint locations for the following 30 days you make a Direct Deposit of $20 or more. You can find these ATMs at places like 7-Eleven, CVS, Costco, Kroger, Target and Walgreens. Otherwise you will have to pay a $2.00 fee.

    You also get free online bill pay and a free additional card along with no activation fee.

    You do not have to pay a fee to purchase with a signature or PIN transaction.

    You also get one free live customer service agent call per month and $2.00 per call after that.

    If you like to receive a paper statement that will cost you $2.00 per statement.

    When you check out the fee chart you will see that most of the fees can be waived for a 30 day period after you Direct Deposit $20 or more.

    So who is the Approved Card by Suze Orman for? People who do not want to use a secured credit card, people who cannot get approved for a checking account due to bad credit, and people who will deposit less than $1,000 each month through Direct Deposit.

    It’s not the best prepaid debit card but it is also not the worst prepaid debit card.

    For more from this author visit:  Tameka Riley’s Author Page

  • The American Express Prepaid Debit Card

    The American Express Prepaid Debit Card

    The American Express prepaid debit card stands out from its peers in several ways. Other than the media attention it attracted during its launch, there is much more to write about; and you can already guess that most of it is positive. It’s only by looking further at its features that you begin to understand why it generated so much publicity.

    One of the most attractive features about the debit card is the fees. Fees are one of the most important considerations to make when comparing prepaid debit cards—and the American Express prepaid debit card scored big on this one. Its fee is what most people who deal with financial institutions would call free. The only fee that the card holder pays is the ATM withdrawal charges. They are still offering you an incentive in that you pay absolutely nothing for the first withdrawal.

    For any other subsequent withdrawals you pay $2 dollars, of course to this, you will have to add the charges levied by the ATM owner. Unlike most other prepaid debit cards, there will be no charges levied on you when you are activating or reloading the card. Better still, there are no fees charged when you use the card.

    The American Express prepaid debit card has several benefits over the other such cards in the market. For instance, one is allowed to have up to three cards as long as you are above 18 years of age. You can choose to have all the three cards in the name of the children or you can have one of the cards. Very few prepaid debit card providers will allow you such a privilege. This means that a parent with teenage children can acquire the prepaid debit cards for them so that they don’t have to keep asking for cash to refuel or other routine expenses.

    Since the prepaid card is being shared with teenagers, you might feel that the kids might overspend which can have very adverse effects in these hard economic times. American Express thought of that too and put measures in place so that a parent can monitor the spending that goes on using the card. It’s possible to view the transaction history so as to keep track of how the cash is being used and detect misuse if any. You are also able to suspend the card if you feel it is being misused and you can reactivate the card again when you’re ready.

    Most people will tell you that a card that allows you to track every transaction carried out on it is good enough, but American Express prepaid debit card has gone a step further. You receive an email alerting of every transaction made on the card. This makes it very conducive for parents with teenagers since you can track their every purchase from home. The card even allows you to load it from your bank account.

    Overall, the American Express prepaid debit card is one of the best prepaid debit cards you can use. It has very low fees and is accepted wherever American Express credit cards are accepted.

    For more from this author visit:  Tameka Riley’s Author Page

  • AccountNow Gold Visa Prepaid Debit Card

    AccountNow Gold Visa Prepaid Debit Card

    Nowadays very many people are more warmed up to the idea of prepaid services. One type of prepaid service that has gained wide usage is prepaid debit cards. These cards are replacing the traditional credit cards. If you are looking for a better way to manage your money then you should consider applying for the AccountNow.com Gold Visa Prepaid Debit Card. This prepaid debit card is licensed by Visa USA. This card allows you to load cash online; you can login at www.accountnow.com or through direct deposit.

    This prepaid debit card is associated with numerous benefits. The first and very important benefit offered by AccountNow.com is that you can never use more money than you have. It has been said that you should bite only what you can swallow. Many individuals and families have found themselves in very compromising situations when they accumulate very large amounts of debts through the use of credit cards. The AccountNow prepaid debit card will save you from such kind of situations and embarrassments since you can only spend what you have loaded.

    The card goes ahead and ensures that you can use it anywhere that Visa debit cards are accepted. This is unlike other types of cards that can only be used in specific places. This means even when you travel, may it be from one side of the globe to the other you can make your purchases. Furthermore, you can use the prepaid card just like a debit card in ATMs and withdraw money for a very small fee. This does not mean the security of the card is compromised. Rather the card has very secure fraud liability protection just like the conventional credit cards issued by Visa.

    The AccountNow.com prepaid debit card allows you to make various online transactions including shopping, renting a car and booking airline tickets. You can also pay your bills online. For those receiving benefit or pay checks, they can be directly remitted to your account saving you the hustle of having to cash checks and the fees associated with them. You will also get free direct deposits and can qualify for a $25 direct deposit bonus within 6 months after opening the account if you deposit at least $500 per month through the recurring deposit in two or more consecutive months

    When you want to apply for the AccountNow.com prepaid debit card, you are not required to pay any fee. The subscription process is free and very efficient since it is not long. Once you open your account, you will be charged a $9.95 the first time you deposit your money. However, there is no minimum balance for this account. Each time you make an ATM withdrawal you will be a charged $2.50 fee. Every month you will be charged a $9.95 usage fee but you can be exempted from this fee if you deposit $3000 dollars or more into your account in a month. The account does not charge the annual percentage fees. Just like other prepaid cards, the AccountNow card does not require a credit check thus you can open the account regardless of your credit score.

    The AccountNow Gold Visa Prepaid Debit Card is not the best prepaid debit card on the market and there are cheaper debit cards with lower fees out there.

    For more from this author visit:  Tameka Riley’s Author Page

  • Walmart MoneyCard Prepaid Visa Debit Card

    Walmart MoneyCard Prepaid Visa Debit Card

    The Walmart MoneyCard prepaid Visa debit card is one of the cards that have the most attractive features on the market. Normally what attracts a person to a prepaid debit card is not its physical look but its usable features. The Walmart reloadable prepaid Visa debit card is not lacking in these either.

    The first feature is the ease of acquisition. The card is one of the easiest to acquire. To obtain it you don’t require a bank account and neither do you require any credit check. You can buy it at your local Walmart or Walmartmoneycard.com. Once you get the card you don’t have to stand in a queue for long periods of time waiting for it to get activated like you do with some cards offered by some financial institutions. To activate you only need to place a call to Walmart and they will activate the card for you immediately.

    A prepaid debit card no matter how good its features are, if its not easy to use will end up serving little or no purpose. The Walmart MoneyCard prepaid Visa debit card has been designed to make transactions easier for the card holders. The card is accepted in all Walmart outlets worldwide. This makes your shopping abroad as easy as shopping home. You can even use it to shop online. This is unlike most other prepaid debit cards that only allow you to shop from stores but not online.

    With the Walmart prepaid debit card, you don’t have to worry about acquiring cash whether you on tour abroad or at home. The card allows you to get cash from a large number of compatible ATMs the world over. This means that all you require when traveling is your prepaid visa card.

    The Walmart prepaid Visa debit card does not only cater for travelers, it also caters for those at home. You can use to complete a wide range of transactions while at home without the need for cash. You can use it to pay a wide range of bills. These include the cable bills. The power bills, water bills, cell phone bills and many other utility bills. The cards provide an easy and quick way of paying bills in that there are no long procedures involved. The process has been made deliberately short and without complexities so as to make it simple for the consumer. You can even use it to pay for other domestic expenses like buying groceries, paying for gas, paying bills at restaurants and so on.

    Over time, the Walmart prepaid debit card has become very popular with business people since it allows them for virtually everything they need. One can use the card to make hotel reservations, pay for airline tickets and many other expenses. Unlike cards that encourage careless spending, the Walmart prepaid Visa card enables one check spending. You can do this through by receiving email alerts every time you make a transaction on the card. One can also be receiving SMS balance alerts.

    Safety and convenience are another main advantage of the prepaid card. You are charged no transaction fee and neither do you pay anything if you reload your funds using the direct deposit. There are policies that protect the card holder from unauthorized purchases.

    How much does the Walmart reloadable prepaid Visa debit card charge? Fees?

    You will have to pay $2 dollars for ATM withdrawals, $1 for balance inquiries, $3 dollars for monthly maintenance which can be waived if you load or reload at least $1,000 dollars in a calendar month. And you also have to pay a fee to reload the card with a GreenDot MoneyPak which can average $4.95.

    These are just some of the fees you will have to pay.

    The Walmart MoneyCard prepaid Visa debit card also has several benefits that make it one of the best prepaid debit cards you can use. It has a lower monthly fee than other cards and offers a 1% cash back bonus on gas purchase through the end of 2011.

     

  • Prepaid Debit Cards for Teens

    Prepaid Debit Cards for Teens

    Prepaid debit cards for teens are available on the internet and they are in great demand nowadays because so many parents are getting them for their teens. It is actually very easy to apply for these cards because all one needs is a computer and access to the internet. Each person should carry out good research on the various companies which offer these prepaid debit cards for teens before making a final decision.

    By doing this, you will ensure that they get the best prepaid debit card that is most suitable for them. Therefore, after getting an appropriate card, you should read all about the regulations that they will be required to follow and then fill out the forms provided.

    The best part about prepaid debit cards for teens is that there are no overdraft fees, credit checks or activation fees required therefore one gets to save on a lot of money. Moreover, with this card, there is easy monitoring of parents on their child’s spending habits. Also, the spending limits are very strict in that, one can only spend up to a certain amount daily and this gives the teen good control in their spending habits.

    Parents like you will be very happy about these cards because you get to know some of the places your child goes to and what they buy. It helps a teenager to learn how to be responsible at an early age when it comes to spending money.

    The best prepaid debit cards for teens are accepted in very many locations around the world wherever Visa and MasterCard debit cards are accepted therefore a teen can use it even when they are away on tour. However, this is also a great advantage because in case of an emergency and they need some cash, you can just load their card for them online and they receive money on their card instantly. There are a wide variety of prepaid debit cards to choose from and they all have different designs whereby one can choose according to their personal preference.

    Another advantage of prepaid debit cards for teens is the fact that the teen gets text alerts even if the card has just a small balance. Moreover, each parent has the ability to set up email alerts and text messaging so as to track their child’s spending habits. Furthermore, you can also set up this card in a way that you can unlock or lock your child’s access to their account just in case something goes wrong. It is thus a very good idea for parents to get these cards for their teenagers because aside from teaching them about good spending habits, they are able to fund them in case there is an emergency.

    However, the fee charged when one uses these debit card is very reasonable especially since one is not required to pay anything in the beginning. Therefore, one gets to save a lot of money. There are some regular prepaid debit cards that will work for teens (Walmart MoneyCard prepaid MasterCard) and then there are some specifically designed for teens such as the BillMyParents prepaid debit card. It comes with no activation fee, no overdraft fees, and no credit checks.

Prepaid Debit Card Reviews, Complaints, Etc