Monday, January 23, 2023

What Is The Best Prepaid Credit Card To Get

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How Do I Get A Prepaid Card

BEST Secured Credit Card

Depending on which card you want, there are a few different ways you can apply.

  • In-store Some retailers, like Walmart, allow you to purchase and load money onto a new prepaid card.
  • Online Many prepaid cards allow you to apply through their websites.
  • At a branch Some banks, like Chase, offer prepaid cards that you can apply for at your local branch.

Best For No Monthly Fees: Bluebird American Express Prepaid Debit Account

Heres why: A lot of prepaid cards charge various fees. But if youre fee averse, youre not totally out of options the Bluebird® American Express® Prepaid Debit Account could be a solid choice for you.

It comes with the following:

  • No monthly fee
  • No activation fee
  • No ATM withdrawal fee at MoneyPass ATMs
  • No fee for cash and debit card reloads at Walmart

You also have the option to load money onto your card for free via direct deposit or a mobile check deposit.

The only drawback to free mobile deposits is the 10-day waiting period. If you want your money sooner, youll have to pay 1% or 5% of the check amount, depending on the type of check, with a $5 minimum fee.

Is There A Prepaid Debit Card With No Fees

There are so many credit and debit cards available these days. Their various associated perks and rewards, finding the best reloadable prepaid debit cards with no fees, may seem like a fatiguing task. But we have presented some of the lists of card that we believe are any of the best options on the market.

Unfortunately, fees are also a fact of life, especially when youre dealing with money these days, it can think to be like you pay fees on your money no matter whether you are trying to earn it , store it , or spend it .

For some states, prepaid debit cards can be a no-fuss way to cash paychecks and make a few bargains without dealing with bank accounts or credit cards. But even prepaid cards can come with an abundance of stinky fees. So, we have mentioned some of the most fee-free of the bunch in the following to help you find the right prepaid card.

  • The best with no reload fees: NetSpend Visa Prepaid Card.
  • Best with No Monthly Fees: NetSpend® Visa® Prepaid Card
  • Best with No ATM Fees: The American Express Serve®
  • Best with No Signature Transaction Fees: NetSpend® Visa® Prepaid Card
  • Best with No PIN Transaction Fees: PayPal Prepaid Mastercard®
  • The best with No Foreign Transaction Fees: Bluebird by the American Express

On the above, shortlists arent the only prepaid debit but also credit cards.

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For Loblaws And Shoppers Drug Mart

  • Featured

    PC Financial® Mastercard®

    The no annual fee PC® Mastercard® is a fast way to earn PC Optimum points towards great rewards.

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  • Earn 25 PC Optimum Points per $1 spent at Shoppers Drug Mart / Pharmaprix
  • Earn 10 PC Optimum Points per $1 spent on all other purchases
  • Earn 30 PC Optimum Points per purchased litre of gasoline at Esso

Starbucks Rewards Visa Prepaid Card

Best Prepaid Debit Cards

With a maximum balance of $10,000, you will enjoy the flexibility of the Starbucks Rewards Visa Prepaid Card. With this card, you are not limited to making purchases at Starbucks. In fact, you can use it anywhere that accepts Visa as a payment method. This card does not have any monthly or activation fees, and if youre an avid Starbucks drinker, you can link your card to your Starbucks rewards account. Unfortunately, the downside to this card is that you cannot withdraw money from an ATM. You will also see a 3% fee if you use the card outside of the United States, so we dont recommend this prepaid card for travel purposes abroad.

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Best Student Credit Card

The academic year tends to be front-loaded with expenses: Text books, lab supplies and, if youre living off-residence, housewares and the cost of setting up utilities. This is where a rewards card comes in handy, especially with a great welcome bonus of 5% cash back on purchases on your first three statements. After the bonus period, youll still earn 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on everything else. Fortunately for busy students, this straightforward card doesnt have a complicated points system or tiered earn ratesit just provides simple cash back.

  • Annual fee: $0
  • Welcome offer: Get up to 5% cash back for the first 3 months introductory 1.99% interest rate on balance transfers for 9 months with 1% transfer fee plus apply now to get a $50 cash back bonus when you spend over $6,000 in the first year .
  • Earn rate: 3% cash back on groceries 1% on recurring bill payments 0.5% on everything else
  • Additional benefits: Extended insurance on purchases made with the card up to 25% off rentals at eligible Alamo and National Car rental agencies

Is A Prepaid Debit Card Worth The Cost

It is generally cheaper to get a debit card through your bank rather than getting a prepaid debit card. A prepaid debit card works best for a teenager or employee who you want to ensure stays within the cards limit. If one of those situations applies to you, it may be worth the fees. Additionally, if your credit isnt the best, or if you cant open a bank account for whatever reason, then a prepaid debit card is worth the cost. Just know all of the associated costs before you get a prepaid debit card so you arent surprised by monthly fees, reload fees, or any other costs along those lines.

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What About Secured Credit Cards

A secured credit card is similar to a prepaid card, however, you can use it to improve your credit score.

You are required to put down a security deposit as part of the application process for a secured credit card. Your security deposit is returned to you when you close your account or your credit improves and you qualify for a secured credit card.

Two of the best secured credit card options in Canada are the:

  • Home Trust Secured No-Fee Visa
  • Plastk Secured Visa Credit Card

Home Trust Secured NoFee Visa

This secured credit card has no annual fee and you determine your credit limit based on your security deposit.

Some of its main features include:

  • $19.99% interest rate on purchases
  • $500 $10,000 security deposit
  • $0 annual card fee

Learn more about the card in this Home Trust Secured No-Fee Visa review.

Plastk Secured Visa Credit Card

This secured card offers a lower purchase interest rate and bonus rewards, however, you pay a $48 annual fee plus a $6 monthly maintenance fee.

Its key features include:

  • $17.99% interest rate on purchases
  • $300 to $10,000 security deposit
  • 0% APR for 3 months
  • 25 days interest free grace period on purchases and 3 days grace period on cash advances
  • Free monthly credit score

Can International Students Get Credit Card In Canada

Free Best Prepaid Cards for 2020

For international students who want a Canadian credit card you must first obtain a Social Insurance Number from Service Canada. You can only get your social insurance number if you are authorized to work while attending school. With your SIN, many of the big banks will extended $1,000 worth of credit for students who have recently arrived in Canada. TD will only approve a secured card application. MBNA and Tangerine required a form of Canadian ID like a driver’s license.


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The Vanilla Prepaid Visa And Mastercard

Fees: From $3.95 to $8.95 for activation, depending on the amount of the card

Spending limit: The amount of the card

The Vanilla Visa and Mastercard prepaid cards work like gift cards. No PIN is required and the funds deposited to your card have no expiration date. The prepaid amount can vary between Mastercard and Visa: Mastercard offers its version of the prepaid card in amounts of $25, $50, $100, $200 and $20 to $500 and Visa offers its version in amounts of $25, $50, $75, $100, $150, $200, $250 and $20 to $500. Activation fees vary depending on the amount and card provider. Vanilla prepaid cards can be acquired at many retailers across Canada, including Walmart, Jean-Coutu, Best Buy, and Petro Canada, Shell and Ultramar gas stations. They are activated upon purchase, as soon as you checkout at the cash register.

Add Stack To Your List Of Payees

In the same vein, you can add STACK to your bank accounts list of payees. So, to transfer money onto your card, all you have to do is make a payment. You can even schedule advance payments to control how much money you have.

Heres a little savings tip if you want to reduce your daily expenses. You can use your STACK card only to pay your bills. You can schedule a recurring payment directly from your STACK balance and limit yourself to this amount to spend. This way, youll know exactly how much youre spending and youll have more precise control over your cash outflows.

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Best Credit Cards To Build Credit Faq

Finding the best credit card can be tough. But youve got the knowledgeable WalletHub community on your side. We encourage everyone to share their knowledge while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.

Setting Up Direct Deposit

The best prepaid debit cards

Since many cards will forgive the monthly fee if you load a certain amount of money onto your prepaid credit card each month, its a good idea to set up a direct deposit that automatically goes onto your card. This way youll always have that money in the account for you to access and reach the monthly load limit with ease. This can be your paycheck, social services payments, etc.

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Best For Cash Rewards: American Express Serve Cash Back

Courtesy of American Express

With the American Express Serve Cash Back, you can earn unlimited cash-back rewards on purchases and it comes with fraud protection.

  • No waiting period on rewards

  • 90-day purchase protection

  • Card purchase fee if purchased in a store

What we like: If you plan to spend more than $800 each month on your prepaid card, the American Express Serve Cash Back should be in your wallet. Youll earn unlimited 1% cash-back rewards each time you shop with your prepaid card. Your cash rewards are added to your card right after you earn them, and you can redeem rewards at any time.

Enjoy early direct deposits for no additional fee, free in-network ATM withdrawals, fraud protection, and 90-day purchase protection on purchases up to $1,000. The cash reload fee varies by retailer and is up to $3.95.

What we don’t like: The card comes with a $7.95 monthly fee. You’ll have to spend more than $795 each month to break even on the fee and get value from your rewards. The monthly fee doesn’t apply in Texas, Vermont, or New York, making the card more attractive for people in those states.

  • Card Purchase Fee: $3.95 in retail locations
  • Monthly Fee: $7.95
  • Reload Fee: $3.95 for cash reloads
  • ATM Fee: $2.50 if you use a non-MoneyPass ATM

Are Prepaid Cards Different From Credit Cards

Prepaid cards are very different from credit cards. At least debit cards are almost similar to prepaid cards because both require you to use what you have unless there are other agreements with your card issuer. However, in the case of a debit card, the money you use is just a loan of some sort. You have to pay the money later at the end of month.

The physical appearance of prepaid cards and credit cards is the same. It leaves many people confused and some tend to think that the two are the same. That is not true. The logos from the respective companies such as Visa, MasterCard, or American Express only show the issuer but do not indicate that the cards are similar.

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What Happens If I Lose My Prepaid Card

Well, losing your prepaid card can be traumatizing. However, you need to worry less if at all nobody knew your PIN. However, you never know whether someone might have used tricky means to identify your PIN. Upon losing your card, you should report immediately to your service provider for deactivation.

You can then visit their offices in person and request a new card. Most prepaid card issuers charge you a replacement fee, which is usually small. Then transfer money from the old card into the new one.

The most important thing is to be careful so that you do not lose your card. Also, never tell anyone the PIN. In addition, you should never store your PIN notebook together with your card. It is even better to memorize the digits instead of having the PIN on a piece of paper.

Green Dot Visa Debit Cards

Best Prepaid Debit Card â The 7 Key Features

Your banking. Your choice. Green Dot has an account for you.

Green Dot Visa® Debit cards have smart everyday banking features to help you better access, budget and manage your moneyanytime, anywhere you need it.

  • No monthly fees with qualifying direct deposit
  • Get your pay up to 2 days early
  • Overdraft protection up to $200 with opt-in & eligible direct deposit

Personalized card required. Fees and limits apply. Learn more

See account agreement for terms and conditions. When you direct deposit $500 or more in the previous monthly period, otherwise $7.95 per month. Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. $15 fee may apply for each purchase transaction not repaid withing 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion.

  • No monthly fees, just pay per transaction.
  • Shop online and in stores, plus pay bills
  • Overdraft protection up to $200 with opt-in & eligible direct deposit
  • Personalized card required. Fees and limits apply. Learn more

    See account agreement for terms and conditions. $15 fee may apply for each purchase transaction not repaid withing 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion.

  • 2% Cash Back online and mobile purchases
  • 2% APY on savings up to $10,000 balance
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    How To Set Up Your Reloadable Debit Card

    Select your card

    Browse through the various reloadable debit cards available at Walgreens and decide which card is right for you.

    Purchase and register your card

    Visit any of our > 8,000& plus locations to purchase and load your card. Funds on temporary cards can be used for purchases. All cards come with instructions to register. To register your card, you will need to provide your name, address, date of birth and Social Security number. Once registered and your information is successfully veried, you will typically receive a personalized card in the mail approximately 710 business days.

    Reload your card

    Add funds to your card with direct deposit or with cash in store at any of our convenient locations.

    Use your card

    Use your reloadable debit card to shop, get cash at ATMs, pay bills online or shop in stores anywhere Visa, MasterCard or American Express cards are accepted.

    Why You Should Consider A Secured Credit Card

    • Secured credit cards allow you to build credit . Prepaid credit cards are more like debit cards, but secured cards are reported to the credit unions, which can help your credit if you make on-time payments each month.
    • They offer better rates.
    • Some secured cards offer rewards. Some cards offer cashback.
    • Charges on a secured credit card do not draw down your deposit balance. Prepaid cards you have to pay upfront. Secured cards act more like credit cards and you can pay off the balance at the end of each month.

    Depending on your creditworthiness, you could get a Platinum Secured Credit Card from Capital One with a $200 limit for as little as a $49, $99, or a $200 deposit. It also has no annual fee, making it perfect for those looking to build credit.

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    Best Credit Cards To Build Credit

    secured credit cardslimited or no creditstudent credit cardbest credit cards for bad creditThis content is not provided or commissioned by any issuer. Opinions expressed here are the authors alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection.

    Why Its One of the Best Credit Cards to Build Credit With: People with poor credit who need to borrow a bit from their credit card as they rebuild their credit score dont have a lot of options. But the is a solid choice. It has an annual fee of $75 the first year and $99 each year after that. It also has a $300 starting credit limit. Bear in mind, however, that any balance you carry from month to month with this card will accrue interest at a high rate: 23.99% .To learn more, read our complete .

    Why Its One of the Best Credit Cards to Build Credit With: If youre really worried that your credit history whether bad or nonexistent will prevent you from starting the credit building process, OpenSky is an interesting option. While it does charge a $35 annual fee, they wont check your credit when you apply.You can find more information in WalletHubs OpenSky Visa review.

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