Prepaid debit cards are the easiest way to get a debit card without opening a bank account or a credit card. These cards work exactly like debit cards, but they’re not linked to your checking account. Instead, you can just load the card with money whenever you want.
Right now the market for prepaid debit cards in the US has a growth rate of 5.5 percent. As a result, they are great cards for getting your finances under control and increasing your wealth.
To help you find a prepaid debit card of your own, you’ll need to know what the top cards are. Here’s a list of the eight best prepaid debit cards to check out.
1. Brink’s Prepaid Mastercard
Brink’s Prepaid Mastercard doesn’t require a minimum balance, which makes it great for those who don’t want to invest wads of cash into the card at a time.
Brink’s card comes with no late fees or interest charges and allows you to earn Payback Points, which can be converted into cash back. You can also use the Brink’s mobile app to manage your account on the go.
While there’s no credit check required for this card, it does have variable monthly fees. You’ll want to look into what your fees would be before investing in this card.
2. PayPal Prepaid Mastercard
PayPal is one of the most popular peer-to-peer money services, and with the PayPal Prepaid Mastercard, it’s become even more popular. With this card, you can move money from your PayPal account to fund your prepaid card account. Alternatively, you can add cash at any more than 130,000 convenient reload locations nationwide.
The PayPal app lets you check your card’s balance, use your card on special offers, and more. The card has variable fees but does not require a credit check.
3. Bluebird American Express Prepaid Debit Card
The Bluebird by American Express card is a reloadable prepaid debit card that can be used anywhere American Express cards are accepted. What’s great about Bluebird is that it offers purchase protection against accidental damage and theft for up to 120 days from the date of purchase. In other words, if something happens to your card, you can still get your money back.
Bluebird lets you transfer cash to other Bluebird account holders free of charge. Other transfers, however, will cost you a fee. The major perk of this card is that there are no foreign transaction fees. It’s a great card to have on hand when you’re traveling.
4. FamZoo Prepaid Debit Card
This card is the best choice for teenagers and children thanks to the available account control tools. Parents can give their kids restricted access so that they can use the card only when they need it.
On top of that, this card comes with a mobile app that allows parents to track purchases and make restrictions in real time. They can also instantly reload the card or transfer money between family members.
There are no ATM fees or foreign transaction fees, although there is a low monthly charge for having the card.
5. NetSpend Visa Prepaid Card
NetSpend’s prepaid card is one of the few Visas that made it onto this list. It’s always convenient to have a Visa card, as it is often more widely accepted than Mastercard.
The NetSpend Visa has a minimum balance requirement but no overdraft or late fees. There is, however, a monthly fee of as much as $9.95 that you should be aware of.
You can use the NetSpend Mobile App to easily load checks to your card and manage text and email alerts.
6. PlayCard Prepaid Mastercard
The PlayCard Prepaid Mastercard is the best choice for online gamers. This card allows you to separate your fun money from your budget, making it easier to track and curb spending.
There are no late fees, interest charges, monthly fees, or credit checks associated with this card. However, the card is subject to ID verification.
7. Greenlight
This is another debit card designed for kids. With this card, parents can set controls and receive alerts about their kids’ spending through a mobile app. Greenlight also allows parents to block certain unsafe spending categories and offers FDIC insurance of up to $250,000.
With Greenlight, you can custom design your card using a photo of yourself or your child. There’s no credit check and there are no monthly fees associated with this card.
8. The Mango Prepaid Mastercard
This Mastercard offers a safe and convenient way to manage and access your money when and where you need it. An online banking application allows you to
securely check your balance, read through your transaction history, and send money to friends and family.
On top of that, with this card, you can open a savings account with an APY as high as 6 percent. This offer only applies to current cardholders.
In terms of the card itself, you don’t need a credit check nor are there any monthly fees or interest charges. It is one of the most affordable prepaid debit card options.
