Finding the right prepaid debit credit card online is not an easy task these days. There are a swarm of various offers out there and a ton of different issuers like Visa and MasterCard. As like reward credit cards, one might want to select a card that you can actually acquire some sort of money saving advantage and/or rewards. In this article we will go over several offers highlighting their various features. The debit cards we will review will be branded with either MasterCard and/or American Express. Please note that the details of the following reviewed offers were accurate at the time each card was reviewed. Card terms and conditions can change at any time; so it is best to be certain to review any particular offer directly from the issuer's website prior to applying.
The All-Access Visa Prepaid Debit Card is a card with a 100% approval rate. There are no credit checks and bad credit is not a problem when applying for this debit card. This prepaid debit card comes with a $10,000 load capacity and is reloadable at retailers nationwide at many spots across the country from coast to coast. With this prepaid debit card there are no upfront payments and no minimum balance requirements to worry about. You also get a free savings account with a higher interest rate paid to you than at most of the national banks. You can enjoy free instant transfers and also transfer money to other cardholders. You will also be able to get free account alerts in your email or text messages on your account activity. You will not have to pay a dime to set up your direct deposit into your card (optional). This feature in itself will make paydays faster and much safer. Also, you have access to online bill paying so you wont have to lick anymore bad tasting stamps.
The BuyRIGHT Pre-Paid Debit MasterCard is also another great selection. This prepaid debit card offers free direct deposit to make your paydays more enjoyable with no waiting in line at the bank or a check cashing charge to bother you. Also, this card is reported to at least one major credit bureau, so this may be a fine choice in a debit card for those wishing to establish and/or reestablish their credit. There are free account activity alerts also come with the card as it also has a nice flexible money saving debit card fee structure. You also have other great money saving features as well like the BuyRIGHT rewards program and the cash back referral program.
The Wired Plastic Prepaid Visa Debit Card is another great outstanding option for those in the market for a debit card that is loaded with features. They have recently designed a new type of card for convenient "Tap-n-Pay" purchases at merchants and stores across the country. With the Wired Plastic Prepaid Visa Debit Card, you will not have to suffer from any bounced check, NSF and account overdraft fees. With their free rewards program, you can earn 1 point for every $1 spent with your debit card. When you are ready and have accumulated enough points, it is easy to get rewarded with prepaid wireless airtime, music downloads, and LD calls. The card comes with a free bill pay service that allows you to pay anyone either via the internet or by phone. The Wired Plastic Prepaid Visa Debit Card also comes with the "Credit Builder" program and overdraft protection. With this offer you can also take advantage of free direct deposit to help you eliminate those ugly check cashing fees. You also have the ability to instantly add cash at over 100,000 retailers nationwide.
Using your debit card for everything versus using your credit card may sound like a good idea, but you might not know that there is a downside to using them for everything and that downside is the fact that a lot of banks will now allow you to overdraw your bank account when you make a charge on your debit card.
No one likes to be overdrawn in their bank account because of the overdraft fees and the affect that it has on their credit score, but banks have just made this entire thing much easier by allowing overdraft to occur via debit cards. What they are doing is taking advantage of people who do not like to use credit cards because of the interest that is charged on them every month. Either way, the bank is going to get the money that it wants from the consumer.
If you make a $10 purchase with your debit card, but your account only has $9.54 in it, the charge will go through and it will be the same as if you wrote a check for the item. The bank is completely capable of having your debit card reject the transfer of funds much in the same way that a credit card can be rejected for this reason, but they choose not to because it cuts into their overdraft fee profit.
What most people do not realize is that when you use your debit card, the bank makes a profit because the store that you used it at has to pay a fee to be able to have the card processed. The logic behind this is that the more kinds of credit cards and debit cards that a store can accept, the more business (and profit) it will receive.
If you really want to keep using your debit card for day to day purchases, keep a good eye on what your account balance is to avoid the overdraft fees. Many people have the ability to manage their finances in their head, but if you are not one of these people, it is likely that you will want to check your balance online, if your bank has that option. If you find yourself having problems keeping control of your finances, the solution to this is to simply return to using cash for everything until you learn to manage your money successfully.
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