Best Prepaid Debit Cards

What are prepaid debit cards? Well, they are debit cards! However, they work like a credit card. You are not taking any loan (credit card is a type of loan) from any organization. You are paying for your expenses upfront.

If so, why on earth should you get a prepaid debit card? That is a brilliant question. There are several reasons why you should opt for prepaid debit cards. Let us take a look at those reasons:

  • You need to transfer money to the card from your bank account. So, you are not taking any loan.
  • Since you are not taking any loan, there is a ‘ZERO’ chance of stalking up a credit card debt.
  • Because you will be transferring money to the card, there are no finance charges associated with the card at all.

While you go out shopping for prepaid debit cards, there are a few things that you should keep in mind and ask the company that offers such cards. Here is the list of things that you need to ask:

  • First thing first, the card should be widely accepted.
  • The card should have online connections and retail networks.
  • The card should not have a charge for direct deposit.
  • The monthly fee that the card charges should be minimal.
  • The card should allow you flexibility in spending as well as paying your bills.
  • There should be multiple and convenient ways of loading money to your card.

So, since there are quite some things that you should keep in mind, it is important that you compare the different options you have at hand. In this article, we will make your job a tad easier by providing you the generic details of some of the most popular prepaid debit cards on the market. Let us begin.

Best Prepaid Debit Cards and Their Features

1. AccountNow® Gold Visa® Prepaid Card

prepaid debit cards

Getting approval for this particular prepaid debit card is quite easy. Why? You do not need to have an excellent credit history to get this card. All you need to do is to ensure that identity is properly verifiable.

Since AccountNow is not a traditional bank, one of the advantages is that the prepaid card will not have an overdraft fee. On top of that, there is no such requirement of minimum balance.

Salient features of the card include:

  • Zero activation fee.
  • Zero overdraft fee.
  • No minimum balance requirement.
  • You need a valid and existing bank account for verification of your identity.
  • You can pay your bills with the card or spend somewhere else.
  • You can set up recurring payments.
  • You can send checks to family and friends.
  • You get mobile alerts for transaction details and account balance.

2. 24k Prepaid Visa® RushCard

prepaid debit cards

24k Prepaid Visa® RushCard is pretty similar to AccountNow Gold Visa Prepaid Card. No credit checks are done when you apply for a RushCard. You, however, need to furnish a valid ID proof to verify that you are the person who you claim to be.

Some of the salient features of the RushCard include:

  • $3.95 charge on first funding and free after that.
  • No minimum balance requirement.
  • No credit checks are done.
  • Cash back available at stores.
  • Direct deposit available.
  • ATM withdrawal allowed (in-network).
  • Access to an online account.
  • Text alerts available on account activities and account balance.
  • Two different plans – ‘Unlimited Plan’ and ‘Pay As You Go Plan.’ Plans can be switched with no charges.
  • Online bill payments.
  • In case of stolen or lost card, Visa Zero Liability protection protects your funds.

3. Chase Liquid Card

prepaid debit cards

The Chase Liquid Card is one of the finest prepaid debit cards available in the market. Unfortunately, the card is available only in 23 US states where branches of Chase bank are available.

Some of the salient features of the Chase Liquid Card include the following:

  • You can open an account for Chase Liquid Card free of cost. However, to do so, you have to walk right into a Chase Bank branch.
  • If you load funds or withdraw using a Chase Bank ATM, there will be no transaction fee.
  • If you withdraw funds using an ATM of another bank, there will be a charge of $2.50.
  • If you keep your account inactive, there will be no fee for inactivity.
  • If you lose your card (lost or stolen), Chase Bank will replace the card for free.
  • You have to pay a monthly fee of $4.95 to maintain the card. However, if you connect your card to a Chase Bank Checking account, the maintenance fee will be waived, period.

4. NetSpend Prepaid

prepaid debit cards

NetSpend Prepaid is yet another great option if you are shopping for prepaid debit cards. Holding a NetSpend Prepaid card will allow you to get paid 2 days earlier if you are using direct deposit option. Some of the salient features of the NetSpend Prepaid Debit Card include:

  • No credit check for card approval.
  • No minimum balance requirement.
  • No fee for activating your account.
  • Mobile alerts for all account transactions.
  • Mobile app for easy management of money.
  • 130,000 reload locations available.
  • You can send or receive money from your family or friends seamlessly.
  • You can opt for a Pay-As-You-Go plan where you need to pay $1 for each signature transaction, and if you are opting for PIN transaction, each transaction will cost you $2. Alternately, you can opt for Premier Fee Advantage Plan where you pay only $5 per month, and all your transactions are included in the plan. The Premier Fee Advantage Plan is perfect if you are getting a paycheck or government benefit of at least $500 and you opt for a direct deposit option.

Conclusion

This list of prepaid debit cards is not a complete one. There are other great options available such as American Express Serve Cash Back, or American Express Serve FREE Reloads, or PayPal Prepaid MasterCard, etc. All of these cards have more or less similar benefits. When you go out and shop for these prepaid cards, ensure that you do a comparative study of all of them. Take your time to conclude because making hasty financial decisions can lead to severe troubles in the near future.

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