Customers may apply for Prepaid Cards online, or may get them from any retail outlets. They need to reload the cards with cash first, and then it can be used as a credit or a debit card. It may be swiped at shops, and ATMs.
Prepaid cards give you the flexibility to shop online, rent a car and conduct any other transaction that requires plastic -- provided you have the cash to back up any deposit on the prepaid card. "It does become difficult to travel, rent a car, book a hotel room, make any guarantee on a purchase, make a purchase online, without some form of credit card," says Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling and 23-year veteran of the credit counseling industry.
Fees may be assessed when you activate or reload your card and when you make a transaction. Weekly or monthly charges are also possible and can range from $1 to $10 or more, depending on the card, though some cards offer free unlimited transactions, reloading and more with paycheck direct deposits.
Prepaid cards give you the flexibility to shop online, rent a car and conduct any other transaction that requires plastic -- provided you have the cash to back up any deposit on the prepaid card. "It does become difficult to travel, rent a car, book a hotel room, make any guarantee on a purchase, make a purchase online, without some form of credit card," says Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling and 23-year veteran of the credit counseling industry.
Fees may be assessed when you activate or reload your card and when you make a transaction. Weekly or monthly charges are also possible and can range from $1 to $10 or more, depending on the card, though some cards offer free unlimited transactions, reloading and more with paycheck direct deposits.
