Prepaid debit cards with no fees have gained popularity these past couple of years. As a matter of fact, everywhere you look, you will see a lot of ads showing off all the amazing benefits of utilizing them and they are not an overstatement; prepaid debit cards with no fees are a flexible and wise option to use more often over the traditional credit/debit cards.

One of the best things about prepaid debit cards with no fees is that they have no overdraft charges. In case you make a debit card purchase that goes over the limit on your checking account, you will surely pay a hefty price for those overdrafts. The same goes if you exceed your credit card limit. When you have a prepaid debit card with no fees, you don’t have to worry about this since your spending power is limited to the available balance on your card. Simply put, the transaction would not go through if you have inadequate funds on your account.

Another benefit of prepaid debit cards with no fees is online protection. It is extremely vital these days to be cautious when making a purchase online using your prepaid debit cards with no fees, but obviously as soon as your card details are on the Internet, it is susceptible to hacking just like any other credit card or debit card.

With prepaid debit cards (which according to Wikipedia is simply defined as a plastic card that provides an alternative payment method to cash when making purchases), you have the peace of mind knowing that in case your card details do get stolen, online thieves can take a limited amount only. Best of all, you will not be liable for any fraudulent charges made on your prepaid debit card with no fees.

In addition, when applying online for a prepaid debit card with no fees, approval is nearly guaranteed. With a traditional credit or debit card application, you will always have to undergo a credit check prior to getting approved and this can be a problem for those who have poor credit history. No credit check is required when applying for prepaid debit cards with no fees because it’s your own money that you will load on the card.

PrePaid Debit Cards with No Fees: The Options

prepaid debit cards with no feesPrepaid debit cards with no monthly fees are the most likely option for people who are having a hard time getting approved for a traditional credit card. Also, not everyone has a bank account and without one, you are unlikely to have any means of using a debit card to make purchases. For those who prefer using cash rather than a plastic, prepaid debit cards are an excellent alternative as well.

Prepaid debit cards with no fees provide you with a card account access with funds that you deposit in advance, allowing you to utilize it in the same way as you would with a prepaid debit card with no fees. This is very useful during those instances where you need a credit card (i.e. renting a car or making a purchase online). On the other hand, you still need to be 18 and above in order for you to become eligible to apply for prepaid debit cards with no fees.

Just remember that prepaid debit cards with no fees have to be treated with care to prevent theft or loss since they don’t have the added password security of debit cards.  However, this is a good option for a lot of people who wish to make the most out of the freedom offered by credit cards, without the need to go through the rigorous application process. Getting a prepaid debit card with no fees can be much easier than the normal credit card application process.

Just remember, prepaid debit cards with no fees are safer than credit cards.  Watch this short video for some tips:

PrePaid Debit Cards with No Fees: Great for college students

Having prepaid debit cards with no fees are beneficial for several needs as well, like for college students. You can give prepaid debit cards with no fees as a present to your child in college to manage expenditure if he or she is living in campus, or utilize them to budget or control your spending. (Which means you save money in the long run!)  You can also use them in case you don’t have a checking account; however, be wary which cards you select as some of them have hidden fees, so check the details carefully before you accept the card.

Additionally, a number of issuers charge a fee if the card has been dormant for a certain time period, while others enforce transaction limits.  The bottom line is that spending a few minutes doing your own research on Prepaid debit cards with no fees will save you money in the long run.

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