What is Prepaid Credit Card? Credit cards are the choice of the people these days and help them manage all of their financial matters within the smaller time period.
You can try these cards and bring more ease and security in your life. You can have many more benefits from these credit cards and enjoy your life completely. In this modern and advanced world, people don’t like to keep cash with them, it is quite difficult to carry and not secure as well.
On the other hand, prepaid credit cards are the best alternative for these kinds of people.
They can take these cards anywhere in the world that too without any problem. This card can be adjusted in your wallet with a lot of cash in it.
You can also try these cards and bring some ease in your financial life that too without any special fees and charges.
The applications for these credit cards are quite simple and you need to provide them some of the basic information about yourself and your previous banking history.
Table of Credit Card Contents
What are Prepaid Credit Cards?
There are many companies these days which are providing these credit cards and dealing with some specific brands.
You can choose the company of your own choice as per your needs.
There is a slight difference between the credit cards and the Prepaid Credit Cards so make sure that you don’t mix them together.
You need to load the money first in your Prepaid Credit Cards and then use it on the other hand credit cards can give you loan and you can pay them back.
The good thing about these prepaid cards is that they are not having monthly fees and you can use them for free.
Most of these prepaid cards are not going to charge you anything in the interest section because you are already loading money before making the purchases using the card.
Another good aspect of these cards is that you are not compelled to attach them with any sort of checking accounts to get the prepaid card.
All these features make them unique and they are having a high demand in the market.
How to Look for Prepaid Credit Cards
Even that these cards offer many benefits to the customers but you need to be very careful before selecting the right prepaid card for your use.
Firstly, the process of loading money in your prepaid card is very important. You need to see that what the options are given by the particular prepaid card for loading money in the card.
Secondly, you also need to see that what the charges by the company are for loading money and fee structure of the prepaid credit card.
You must prefer a credit card which is offering much better options to the customers for loading the money into their cards.
Some of the good choices for the Prepaid Credit Cards are discussed below. You can select the best out of them as per your needs.
American Express Serve Cash Back
American Express is the issuer of this prepaid credit card and their name is enough to trust their product.
They are providing different reward programs as well to their customers and at the same time are very affordable for all the customers.
You can get rewards from them on different purchases and other stuff as well.
This is a really good choice for the people who think that they are going to spend a lot using their prepaid card and they can earn awesome cash back from them credit card.
If you spend more than $600 using this prepaid credit card then it is going to negate your monthly fee as well.
- Monthly fees and cash back
As we mentioned above as well that the customers purchasing things of more than $600 can benefit the best from it. They have a monthly fee of $5.95 which will be negated due to the 1% cash back offer of the prepaid card by American Express.
You can use this cash back to pay the monthly fee of the credit card.
They won’t charge any other extra charges from the customers and this makes them a good choice for all the people out there.
They have a slight reloading fee which you need to pay them. They will charge you $3.95 for every re-loading.
This card comes with the best security features as well and gives you purchase protection and many other such benefits.
You can also replace the faulty products of if you purchased them using this prepaid credit card of American Express.
If these things are reported to them within the first 90 days then they can be easily replaced by the company.
They are willing to reimburse for the damaged products up t0 $1,000.
- Other variations
A classic version of the prepaid credit card is also issued by this company.
This card is very special and it is not going to charge anything from its customers. However there are some terms which you need to fulfill to have access to no fee system.
The initial deposit must be more than $500 to get this no fee benefits from the prepaid card.
They are not going to charge any fee from the customers. However, for no fee, you need to make sure that your initial deposit is at least $500.
This version of the card also gives you the option of free reloading. The other card of the company charges $4.95 per month from the customers.
They are giving good benefits to the people.
They are indeed a very good choice for the people and providing some of the best rewards to the customers as far as the Prepaid Credit Cards are concerned.
This is what people love and select this card. You can also apply for this card and enjoy all the perks of this great card.
BlueBird by American Express
This is another masterpiece by the American Express. This card is mostly known in the market for it exclusive and low fee structures.
They will give you a lot of benefits that too in different ways.
Secondly, this is best choice for you if you are looking for a card which is helping you to avoid all the fees and other stuff.
They have no fees at all for their customers and give you some awesome benefits as well. You don’t need to pay any monthly fees to their prepaid card.
They won’t ask for any other fees as well like fees for the bills and other things.
You don’t need to pay any kind of direct deposit fee to them and no other overdraft charges which make them one of the best choices for the people.
You can load your card for free with this prepaid card. The free service is only given to the customers who are reloading their prepaid cards using the debit, cash or other online services.
The cash loaded via Walmart is also free.
There is a slight charge for getting the card that too if you are getting it from any retail location.
If you are going to load cash from other stores and retail locations then they will charges you $3.95 for the loading.
You can easily avoid this fee by loading only from the company supported places.
The ATM withdrawal from this card is also completely free but that too only if you are withdrawing from the ATMs of the MoneyPass.
In case you don’t have any MoneyPass ATM near you then you can use other ATMs and pay $2.50 charges to the prepaid credit card.
- Pay bills
They are also giving the offer of mobile check capture to their customers.
This is the features which allow you to pay easily to your prepaid card using the mobile check account. You don’t need to visit any retailer at all.
There is no fee for this type of the loading for the first 10 days and after that you need to pay them dues.
There is one more option as well that you can pay some additional fees to them and keep these funds for a longer period of time.
This is a very good choice for the people who are looking for a card with no charges at all or low charges. You can apply for it and enjoy all the perks of this credit card.
Mango Visa Prepaid Card
As you can see that the name of this credit card is very awesome and like the prepaid card the offers are also very sweet.
If you are looking for the high yield saving then this is the best choice for you.
The best thing about this prepaid card is the APY. They are providing six percent APY as well to the customers.
They are also giving other such good offers like transfer as well. You can use the offers of this credit card and transfer money to your desired accounts for free.
There are some of the conditions which you need to fulfill in order to qualify for this six percent APY as well.
You need to make a direct deposit of at least $800 and a minimum balance of $1 at the end of the each month.
If you are looking for high spending than this is not going to be a big deal for you at all.
- Fee structure
There is no fee at all when it comes to the signup. They will give you the card for free.
There is no activation fee as well and you don’t need to have bank transfer load fee.
The Mango prepaid card is not going to charge anything at all but there is chances that you bank can make some deductions.
They have a slight fee for the ATM balance inquiry as well. They are going to charge you a small fee of $1 for the balance inquiry using the ATM.
They also have the fee for the ATM withdrawal as well. They are going to charge you $2 for these withdrawals.
They do have a monthly fee as well from the customers. They are going to charge you $3 for the monthly fee.
They give you the features of currency conversion as well. Using this feature of the credit card you can make conversions to any international currency.
They are going to charges 2% from this conversion.
They are also helping their customers to manage their account easily using the online resources.
You can also download their app and manage account from it.
This helps you in keeping an eye on all the transactions which are done using your prepaid card.
This is another good choice for the people. You can use this prepaid credit card with few but very effective benefits.
They are also giving some real and long term benefits and savings as well.
Paypal Prepaid Master Card
As the name itself suggests this prepaid card is issued by Paypal. This is a big and known financial institution in the world.
They also provide you the option to link this prepaid master card with the paypal account as well.
You can also access all of your transactions using the Paypal prepaid master card.
There are many other features as well which are given by this prepaid credit card.
They will give you the web portal access and mobile app as well.
You also have the option of the money transfer from the payapl to your prepaid card as well which is another great benefit.
- Purchase fees
When it comes to the purchase fee, you don’t need to worry about it because this card won’t charge you any such thing.
The card can easily be ordered online and then you can enjoy the perks of this credit card. You will receive the prepaid card within the next few days.
You also have the option to easily reload your prepaid card using the online services provided by this prepaid card.
They also have retail locations all over the country which can also be used for the reloading of the prepaid card.
- Direct deposit
You can make direct deposits to this credit card that too completely free.
They are much faster than other traditional banks and they will transfer the funds much quicker than all other banks in the world.
- Cash backs and special offers
They have many other special offers as well for the customers which make them a very unique prepaid credit card.
This card is offering cash backs as well which the customers can enjoy to save their money.
They give you the option to earn APY as well using this prepaid credit card of the paypal. The APY is applicable on the accounts which have the balance of more than $1,000 in them.
This card is also giving referral programs to their customers these days. In this way you can refer to your friends and earn cash in return from the prepaid credit.
Not only you but your friends and family can also earn rewards using this prepaid credit card.
These are some of the best cards which you can try and use the Prepaid Credit Cards.
You can have a look at your needs and then choose the best suitable for your needs. All these cards are having some awesome benefits for the customers.
Most of them are not charging anything at all when it comes to the monthly charges or the annual charges as well.
The reward programs of these prepaid cards are also very lucrative. You can easily use them and pay at different locations in the country.
The best thing about them is that they keep you away from all kind of interest charges and make sure you don’t have any burden on you.
It also bounds you to spend as per your budget which is a good thing. Have you ever used any of these cards before for your financial matters? If yes then share your experience with us?
Which card out of them is the best and why and which of them is not suitable for the customers and why?
We are looking forward to hear your comments about these credit cards.