What are Prepaid Debit and Credit Cards?

Lets face it, navigating through todays' world requires the aid of a Visa or Mastercard in your wallet. Having one of these cards is absolutely necessary to do a number of things. Without a Visa or Mastercard, you will find it nearly impossible to rent a car, book a hotel room, purchase items online, plan a vacation, or even rent a movie.

Prepaid debit cards work just like traditional Visa and Mastercards. They can be used anywhere Visa or Mastercard is accepted. The only difference is that with prepaid debit and credit cards, you add money to the card before you use it. The limit on the card is predetermined by you, and you can spend only the amount that you place on the card, nothing more. These cards are powerful financial tools that can allow you to control your spending, teach children financial responsibility, and even rebuild, or establish a positive credit history.

What if I have bad credit, or no credit at all?

Your credit history is not a factor when you apply for a prepaid debit card. No credit checks are required with these cards. In many cases, you don't even need a bank account. They can be used as ATM cards as well if you need to withdrawal your cash at any time. If you’re interested in restoring, or establishing a good credit history, you can choose a card that reports to the major credit bureaus as well.

How do I get a Prepaid Credit or Debit Card?

There are several ways to obtain a Prepaid Visa or MasterCard. Many companies offer these cards online including Western Union®, Green Dot®, and Netspend® . Check Cashing and similar financial service businesses tend to offer these cards as a part of their services as well, this makes reloading them with cash extremely fast and easy.