There are many advantages to using a prepaid credit card, especially if you find the right card to match your needs. Prepaid credit cards offer the option to use the card in the same way as a regular card, but the balance is loaded before you can spend the money.
Why You Need to Use Prepaid Credit Cards
As you are reviewing the best prepaid credit cards, you will see that they give you the freedom to shop with a credit card, so that you can have the convenience of paying monthly bills or shopping online. At the same time, it is a safer option than carrying a regular credit card or cash, because you are protected if the card is lost or stolen.
Another common reason to use prepaid credit cards is if you can’t quality for a regular credit card because of bad credit.
Sometimes it can be very difficult to get a credit card if you have a low credit score, a lack of credit history, or if you have recently gone through bankruptcy.
A prepaid card allows you to rebuild your credit, and you are able to access these prepaid credit cards without a credit check.
What to Look for in a Prepaid Credit Card
You will find a variety of prepaid credit card options to choose from, and it is important that you are selective about the card that you use.
Look at the terms and conditions of the card, such as the charges and fees that are accrued for a card replacement, international conversion, ATM withdrawals, or monthly service fees.
It is common for a prepaid card to have higher fees compared with a regular card, and you need to be aware of these fees from the beginning.
Flexibility of payments needs to be considered, especially since the card can’t be used without making a deposit first. Most cards allow bank transfers or direct deposit options, which make it easy to load your card with cash so that you can start using it right away.
Also, consider the features that are available with the card that you choose. Some companies offer rewards programs or cash-back options similar to a regular credit card. If you are planning to use the card regularly, then it makes sense to take advantage of these incentive programs.
Best Prepaid Credit Cards
Our goal is to provide you with information about the best prepaid credit cards, so that you can see the different features that are available with each card. Here are the top cards that we recommend:
• American Express Serve®
• Bluebird by American Express
• PayPal™ Prepaid MasterCard®
• Western Union Prepaid MasterCard
• NetSpend® Visa® Prepaid Card
• ACE Elite™ Visa® Prepaid Card
• Capital One Prepaid Card
You can read through the reviews for each of these cards before making your decision, in order to determine the card that best meets your needs.
Each of the cards has unique features and benefits that are available, allowing you to have the flexibility to make purchases using a plastic card that functions in the same way as a credit card.