5 Reasons You ought to have a Prepaid Bank card
5 Reasons You ought to have a Prepaid Bank card
Prepaid debit cards really are a low-cost alternative to traditional checking accounts, and therefore are a proven way to save hundreds of dollars each year in inflated banking and check cashing fees. Prepaid cards operate just like a bank account but incur little to no fees in the process. Prepaid bank card providers offer safe, easy-to-use, reloadable cards that can be used to pay for virtually anything everywhere Visa and MasterCard are accepted. Prepaid Debit Card
There are numerous benefits of using prepaid debit cards, but let's look at five from the reasons you should have one of these cards in your wallet.
Moderate your Spending
If you have trouble staying with a budget and have a tendency to overspend, a prepaid bank card is a great tool for money management. Unlike your average credit card or bank card that allow you to overspend and accrue fees-as interest rates skyrocket and minimum payments increase-you just have access to the funds you apply to your prepaid card. You can also set up your prepaid credit card account for recurring bill payments, and separate these from discretionary spending to raised control your finances.
Get a Prepaid Card Even If You Can't Get yourself a Traditional Bank Account
Many people don't qualify for traditional accounts or don't have access to mainstream banking. Be it due to location, credit problems, income, or any other issues, the inability to use traditional banking services is called "underbanked." If this sounds like you, a prepaid bank card can help. You'll be eligible for a a prepaid debit card regardless of credit rating or income. It is possible to deposit your paycheck directly on the card and use it anywhere charge cards are accepted.
Protect Yourself When traveling
Carrying cash isn't best option when you travel. You're also putting yourself in danger when you take your charge cards and credit cards with you-especially if they're lost or stolen. Prepaid debit cards are ideal for traveling because you only load the amount of money you need for your trip. They're not connected to credit or accounts, so if they are stolen or lost you won't have to worry about losing all the money in your account or someone charging lots of money to your credit card. Plus, prepaid an atm card are often insured when they are lost or stolen so you can rest easier utilizing your prepaid card on your vacation.
Prevent Identity fraud
Identity theft continues to rise, especially due to credit card data being stolen. Many savvy consumers who're aware of identity theft risks stay away from their credit cards except in an emergency. While this is good practice, when you don't regularly make use of credit cards and rarely check your balances, they turn into a perfect tool for identity thieves. A better strategy is to use a prepaid bank card as an emergency backup because its data and associated total funds are much less accessible to thieves. Prepaid Visa
Teach Teens about Financial Responsibility
Teens need to learn financial responsibility as soon as possible. You can help them begin by allowing them to manage their money on a prepaid bank card. This not only helps you monitor their spending, but in addition gives them the opportunity to possess a little financial freedom minus the risks associated with using a traditional bank account or charge card.
Prepaid debit cards really are a low-cost alternative to traditional checking accounts, and therefore are a proven way to save hundreds of dollars each year in inflated banking and check cashing fees. Prepaid cards operate just like a bank account but incur little to no fees in the process. Prepaid bank card providers offer safe, easy-to-use, reloadable cards that can be used to pay for virtually anything everywhere Visa and MasterCard are accepted. Prepaid Debit Card
There are numerous benefits of using prepaid debit cards, but let's look at five from the reasons you should have one of these cards in your wallet.
Moderate your Spending
If you have trouble staying with a budget and have a tendency to overspend, a prepaid bank card is a great tool for money management. Unlike your average credit card or bank card that allow you to overspend and accrue fees-as interest rates skyrocket and minimum payments increase-you just have access to the funds you apply to your prepaid card. You can also set up your prepaid credit card account for recurring bill payments, and separate these from discretionary spending to raised control your finances.
Get a Prepaid Card Even If You Can't Get yourself a Traditional Bank Account
Many people don't qualify for traditional accounts or don't have access to mainstream banking. Be it due to location, credit problems, income, or any other issues, the inability to use traditional banking services is called "underbanked." If this sounds like you, a prepaid bank card can help. You'll be eligible for a a prepaid debit card regardless of credit rating or income. It is possible to deposit your paycheck directly on the card and use it anywhere charge cards are accepted.
Protect Yourself When traveling
Carrying cash isn't best option when you travel. You're also putting yourself in danger when you take your charge cards and credit cards with you-especially if they're lost or stolen. Prepaid debit cards are ideal for traveling because you only load the amount of money you need for your trip. They're not connected to credit or accounts, so if they are stolen or lost you won't have to worry about losing all the money in your account or someone charging lots of money to your credit card. Plus, prepaid an atm card are often insured when they are lost or stolen so you can rest easier utilizing your prepaid card on your vacation.
Prevent Identity fraud
Identity theft continues to rise, especially due to credit card data being stolen. Many savvy consumers who're aware of identity theft risks stay away from their credit cards except in an emergency. While this is good practice, when you don't regularly make use of credit cards and rarely check your balances, they turn into a perfect tool for identity thieves. A better strategy is to use a prepaid bank card as an emergency backup because its data and associated total funds are much less accessible to thieves. Prepaid Visa
Teach Teens about Financial Responsibility
Teens need to learn financial responsibility as soon as possible. You can help them begin by allowing them to manage their money on a prepaid bank card. This not only helps you monitor their spending, but in addition gives them the opportunity to possess a little financial freedom minus the risks associated with using a traditional bank account or charge card.