4 Things to Look for in a Prepaid Card

This is a guest post from Tom.

Tom Tessin runs a getting out of debt blog, as well as a prepaid credit cards list based site. Feel free to subscribe to his RSS feed at http://www.findsecuredcards.com/blog/rss.
If you’re like me, and you like to control your budget, I wanted to show you why you should consider a prepaid credit card for your wallet. If you’re into rewards, and capitalizing on credit cards, then this might not be the type of card for you. Honestly, it’s built for those that want to either get out of debt, or know how much they are spending each, and every month.


What is a prepaid credit card?

A prepaid credit card will remind you a lot like a gift card. You’ll tie your bank account up with your card, and every time you want to load your card, you will log into your account, and send money to your card. The cool thing about most cards is that you’re able to set up daily, weekly, or monthly instant transactions, so that it automatically loads your card.


4 things you should look for in a prepaid card

The fees: A lot of these prepaid cards have fees. NEVER get one in a grocery store, or place like CVS. They rip you off in fees alone. Instead, look for a card online that allows you to bypass the fees. Most will make you link your bank account, in order to bypass the fees.

Major logo: Every card should have a major logo that you apply for. Since you want it to be credible, you’ll want to make sure it comes from an issuer such as Visa, MasterCard, etc. It never hurts to do a little research on the bank as well.

Get rewards: Yes, you can get rewards with your prepaid card! Some banks will give you interest on your deposit, while others will give you points for every dollar spent. It you can capitalize on the rewards, and then you’ll really make out.

Review it: The last thing that you’ll want to do is review the card online. How do you do this? Just Google the name, and see what other people think. By doing this, you’ll get a fairly good vibe on how the card is. If you get a bad vibe, find another, since there are so many on the market.

This is really all there’s to it in finding a card. Get a card with no fees, rewards, and from a legitimate bank, and you’ll be all set.

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