The table below includes some of the best prepaid debit cards in the market currently. If you’re familiar with how prepaid cards work, browse the options below to see which prepaid card is the best for you.
Keep in mind, if you’re looking for a credit card for bad credit, you should definitely look into Secured credit cards. They are offered specifically for people with poor credit and they can help you on your way to build your credit profile. See my page on Secured Credit Cards here.
First Of All, What Is A Prepaid Card?
Basically, they are cards that you load your own money into and can be used for purchases anywhere debit cards are accepted. Once you’ve depleted your spending money on the prepaid card, you are then able to reload them either online or at popular retailers, drug stores, and ATMs.
Also, prepaid cards are conveniently available in Visa, MasterCard, and American Express variations.
Pros And Cons Of Prepaid Debit Cards…
I’ll review the advantages and disadvantages of prepaid cards next.
Pros
No credit check is required (good for kids and those with bad credit)
Accepted everywhere debit cards are accepted
More convenient than carrying around cash
Many options for reloading (retailers, drug stores, ATMs)
Helps avoid debt (spending limit is your own money)
Direct Deposit option available for paychecks/tax returns
Cons
Doesn’t help build credit in any way
Most involve varying fees (See the American Express options to avoid most fees)
Some Popular Uses For Prepaid Cards…
Kids/Teens
Parents are finding this a great new way to teach responsible spending to their kids. It’s a great way to give your kids their spending allowance, and it’s safer than carrying cash around.
Employees
Another popular use of prepaid cards is for your employees. Unless an employee is your partner at the office, you probably don’t want to hand them an additional business credit card for use. Dispensing a prepaid card for them to use for office expenses is a good way to track spending for tax reporting. And, you won’t have to worry about fumbling around with cash and coins. The PEX Visa Prepaid Card For Business below is a popular one for this purpose.
Finally, What Is The Best Prepaid Card For You?
It really all depends on the specifics of what you’re after, but I’ll give you my top three recommendations based on card type.
Visa Prepaid
: For a Visa, I personally prefer the Account Now Gold Visa Prepaid card. This one actually lets you earn a $15 bonus once you set up qualifying direct deposits. Plus, you can have up to a $10,000 balance limit, making it a great choice for people who can’t get a traditional bank account.
MasterCard Prepaid
: If it’s a MasterCard, I’d probably go with the Control Prepaid MasterCard below. You’ll get special ways to earn cash back rewards and refer a friend bonuses – along with other features you can check out below.
American Express Prepaid
: Most other prepaid cards have either monthly or annual fees. The American Express Serve will avoid those fees, and it’s a great choice.
How To Get A Prepaid Card…
Any of your most popular retailers will have prepaid card options available. I usually see them grouped up with the gift cards, or by the checkout lanes. Of course, you can also apply easily below online.
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American Express Serve®
No credit check. No minimum balance. No hidden fees.
Get a $50 credit after receiving $250+ twice via Direct Deposit by 3/31/14*
Get free cash withdrawals at over 23,000 MoneyPass® ATMs nationwide
Shop online or off and get access to membership benefits like Purchase Protection
Use the Mobile App* to manage your money, pay bills and more
Enroll in Direct Deposit to get your paycheck in your American Express Serve Account on payday.
No need to use a check. Email money to anyone with an American Express Serve Account (even if they don’t have the same bank as you).
Enjoy American Express service and security 24/7
*Terms, conditions and exclusions apply. (American Express Serve is not a credit card.)
Apply Now
Pink ACE Elite™ Visa® Prepaid Card
Official Sponsor of the National Breast Cancer Foundation (NBCF).
Since 2006, purchases from the ACE Elite Card have contributed to over $2 million towards NBCF’s early detection screening program for those in need.
Get paid up to 2 days faster with free direct deposit of paychecks and government benefits*
Free Anytime Alerts™ – Get your balance and transactions via text or email*
Secure: Card funds are backed by Visa® Zero Liability*
Apply Now
READYdebit® Visa Prepaid Card
Instant Account Number – No Credit Check.
Free† Direct Deposit – paycheck, benefits, tax refunds
Easy Online Bill Payment & Mobile Account Access
No Purchase Transaction Fees
No Overdraft Fees or Balance Minimums
Withdraw cash at ATMs or get cash back with purchases
Free Credit ScoreTracker1
Choose Your Card Color – Blue or Pink
Apply Now
PayPal™ Prepaid MasterCard®
Free direct deposit – get your paycheck and government benefits up to 2 days faster.
Instantly transfer money from your PayPal Account to your PayPal Prepaid MasterCard!
Get account alerts on your mobile device or download our App to check your balance and see recent transactions
Open an optional savings account currently offering a 5.00% APY for balances up to $5,000 (new)
Earn Cash back rewards from specially selected stores, restaurants and more
No credit check, overdraft fees or interest charges.
Safer than carrying cash – use it to pay for everyday purchases.
Apply Now
Vision SilverSMPrepaid MasterCard®
Perfect Card for Government/Benefits Checks Recipients
$0 Activation with Rebate*
100% Guaranteed Approval*/No Credit
Free Direct Deposit of Your Pay or Government Check
Free Unlimited Purchase Transactions Anywhere Where MasterCard Debit Card is Accepted
No Overdraft Fees or Minimum Balances
Online Checking – Electronic or Paper Checks
Apply Now
Account Now Gold Visa®Prepaid Card
Get paid up to 2 days faster with Free Direct Deposit † – get your paycheck or benefits checks in your card account and access your funds up to 2 days earlier than payday.
100% Guaranteed Approval – upon successful ID verification. No Credit check. No ChexSystems check. And no existing bank account required.
$0 Activation Fee. No Minimum Balance. No Overdraft fees.
$15 Bonus§ with recurring Direct Deposit. Never pay to cash your paychecks and get your pay faster.
$10,000 balance limit. Your alternative to a traditional bank account. Deposits are FDIC insured.
Use it everywhere Visa Debit cards are accepted and pay anyone with PayAnyone Bill Pay. Shop online, rent a car, pay your rent and more.
Easy Mobile Account Access and Text Alerts. Get your account balance, transaction details sent to your phone within seconds
BBB Accredited A+ Company. Excellent Customer Service.
Apply Now
ACE Elite™ Visa® Prepaid Card
Get paid up to 2 days faster with free direct deposit of paychecks and government benefits*
Free Anytime Alerts™ – Get your balance and transactions via text or email*
Free Direct Deposit – Get paid up to 2 days faster, don’t stand in line or pay check cashing fees*
Secure: Card funds are backed by Visa® Zero Liability*
Apply Now
PEX Visa® Prepaid Card For Business
Instantly fund employee purchases.
Gain 24/7 control over where and how much employees spend.
Save money – no surprise interest charges or overdraft fees.
Free Trial Period – No Monthly Fee for at least 2 months after you enroll
No transaction fees
No deposit fees
Cards are personalized with the cardholder’s name
The funds on deposit are corporate funds – not employee-owned
Apply Now
AccountNow®Prepaid Visa®Card
100% Approval Guaranteed (subject to I.D. Verification)
$0 Monthly Fee
No Minimum Balance
No Credit Check. No Overdraft Fee.
Free† Direct Deposit and Online Bill Payment
Use it everywhere Visa Debit Card accepted
Now with Purchase Rewards
Perfect for Occasional Usage
Apply Now
Control Prepaid MasterCard®
Use Direct Deposit – get your paycheck or government benefits check up to 2 days faster
Refill a Prepaid Phone using your Control card – Get $1 back each time you add $25 or more.
Simple fee plan with no cost to order or activate a card and no overdraft fees
Qualify for a $10 Purchase Cushion and $5/month fee plan after a Direct Deposit of $500 in one calendar month
Earn Cash Back Rewards & Refer A Friend bonuses
Free Bill Pay and online budget management tools
Transfer money to other cardholders online or with your mobile phone
Free Smartphone App – check your transactions, balance and find the closest reload location
Apply Now
READYdebit Platinum Visa Prepaid Card
Get Your Premium Benefits:
Exclusive Rewards Program
Free Credit ScoreTracker1
Easy Mobile Account Access and Text Alerts
Easy Online Bill Payment & Check Writing
Free† Direct Deposit — paycheck, benefits, tax refunds
No Credit Check, No Overdraft Fees or Balance Minimums
Reloadable up to $10,000 Max Balance
Deposit is fully FDIC insured
Apply Now
NetSpend® Visa® Prepaid Card
Get Paid up to 2 days faster with direct deposit — paychecks and government benefit checks
100% Approval – No credit check needed (ID verification required).
Earn cash back with NetSpend Payback Rewards
Real-time activity alerts sent to your mobile phone.
Prescription Discounts – up to 55% off!
Funds are FDIC insured up to the current coverage limit (ID verification required).
Apply Now
MAGIC Prepaid Mastercard®
Receive a $10 Bonus Credit* when you enroll in Direct Deposit.
Add money for free with Direct Deposit
Get cash for free by choosing cash back at retail stores
Manage your account for free online and with automated alerts
No Credit Check or Bank Account Required
Apply Now