Comparing the best prepaid credit cards
| Credit card | Best for… |
| Brink’s Prepaid Mastercard®: | Best prepaid option from Mastercard |
| Netspend® Visa® Prepaid Card | Best Visa card for everyday use |
| Western Union® Netspend® Mastercard: | Best for Western Union members |
| Netspend® Prepaid Mastercard® | Best Mastercard for everyday use |
What is a prepaid credit card?
Prepaid Cards - HDFC bank offers easy & convenient to use best-prepaid credit cards in India. Choose from the wide array of prepaid cards, compare features, benefits & much more!
How easy is it to get a prepaid card?
7 rows · 14/07/2021 · A Prepaid Credit Card is a secured credit card issued by the bank that has been secured with ...
What are the popular prepaid credit cards in India?
25/01/2022 · Prepaid Credit Cards in India 1. HDFC Regalia Credit Card. A monthly salary of Rs90,000 is advised to register for this credit card. The HDFC credit card has an annual charge of Rs25,000. The membership cost is likewise Rs25,000, but it is waived if you spend Rs40,000 on the card during the first 90 days. It is HDFC’s most famous and advantageous card. It provides …
Can you use a prepaid card for online shopping?
Prepaid credit cards are the easiest to procure, if the applicant is not looking for any other type of credit card. Prepaid credit cards can be used for paying outstanding bills through a customer’s mobile phone. For employee not holding a bank account, salaries can be distributed using prepaid credit cards by employers. Prepaid cards can also function as a gift card and can be used as …
Can you still buy prepaid credit cards?
You can buy prepaid cards at retail locations (such as grocery stores and drug stores), online, over the phone, or from some banks and credit unions. If you buy the card online, you may then be issued a virtual card, or you may receive a physical card in the mail at a later time.01-Apr-2019
Which prepaid card is best?
The 5 Best Prepaid Debit Cards of 2022Best Overall, Best for No Monthly Fee: Bluebird by American Express.Best for Cash Reloads: American Express Serve FREE Reloads.Best for Walmart Shoppers: Walmart MoneyCard.Best for Rewards: American Express Serve Cash Back.Best for Tweens/Teens: FamZoo Prepaid Debit Card.
What are the benefits of a prepaid credit card?
How do prepaid cards benefit consumers?Less risk of overspending. Prepaid cards offer less risk of overspending than credit cards. ... Safer than cash. ... Easy to use and reload. ... An alternative to banks. ... Secure alternative form of payment.15-May-2020
Is a prepaid card better than a credit card?
Prepaid cards are often a good option if you don't have access to a credit card or bank account or you're trying to budget using mainly cash. Another perk: you may be able to deposit your paycheck right onto your prepaid card.09-Jan-2021
Is NetSpend a prepaid card?
Founded in 1999, Netspend is a leading provider of prepaid debit cards, prepaid debit Mastercard and Visa cards, and commercial prepaid card solutions, with over 10 million customers served in the U.S. Netspend cards are not a scam. There are several ways you can apply for a Netspend card.
How much money can you put on a prepaid Visa card?
Is There a Maximum Amount You Can Load Onto a Visa Prepaid Card? Most Visa prepaid card options will allow you to load up to $15,000 into the card account. If you're accessing a reloadable prepaid card, you can continue to add money to your account when you spend some of your current balance.01-Feb-2022
What is a disadvantage of a prepaid card?
Prepaid cards can get expensive because the card issuer has great latitude over fees charges to activate the card. Some not only charge an activation fee but also charge a fee with every use of the card. Other types of fees that may be charged are when you: * use an ATM machine.17-Oct-2017
What are the disadvantages of having a prepaid credit card?
ConsHidden fees. This is the biggest, most significant downside to prepaid cards and may outweigh all of the pros. ... No interest. Money stored on prepaid cards does not accrue interest.May not be safer than credit cards. ... No credit-history boost.14-Dec-2021
Which banks have prepaid cards?
Chime: Best cheap prepaid alternative.What are prepaid debit cards?Prepaid debit cards vs. regular debit cards.Bluebird by American Express.Movo Virtual Prepaid Visa Card.Fifth Third Access 360° Reloadable Prepaid Card.FamZoo Prepaid Card.Greenlight Prepaid Mastercard.Walmart MoneyCard.More items...•27-Jan-2021
Why are prepaid cards not accepted?
There are a number of possible reasons why a purchase could be declined: You don't have enough money left on your card. You haven't activated or registered your card. The address you gave to make an online or phone purchase is different from the address you have on file with your prepaid card provider.04-Sept-2020
How do you put money on a prepaid card?
Arrange for a paycheck or other regular payment to be directly deposited onto the card. Transfer money from a checking account or another prepaid card. Buy a “reload pack” to add a certain amount to your card. Add funds at certain retail locations or at the financial institution that provides the card.01-Sept-2020
How safe are prepaid debit cards?
Preventing data from being stolen. As data theft soars, prepaid cards are a good stopgap, Dvorkin says. Because your card isn't linked to personal data like Social Security numbers or bank account data, there's no information to steal.08-Aug-2011
What are the benefits of prepaid credit cards?
Benefits of Prepaid Credit Cards 1 The prepaid card helps you to adhere to the spending limit as per your budget 2 No employment verification is asked for card issuance 3 The card is easy to procure if you are not looking for any other credit card 4 You cannot get into debt as it offers no credit facility 5 Some banks also allow you to withdraw cash using the card 6 Can be used to pay utility bills 7 Can also be used to distribute salaries to the employees 8 Can also function as a gift card or travel card
What is debit card?
A debit card is linked to a bank account. Limits you to the amount you have previously loaded. Allows you to spend the sum you have on the associated bank account. Prepaid card can be linked to a specific business brand. Debit Card can be used in any store or place of business that accepts Visa or Mastercard.
Can you reload a non-reloadable credit card?
Non-reloadable card- There are such cards where once you spend the available money in the card, reloading cannot be done. You can only make purchases up to the available money in the card. Note: For more information about your preferred prepaid card, kindly visit the bank’s official website.
What is an open loop card?
Open looped cards- These are generally branded with the network (American Express, Visa or MasterCard) they are affiliated with and are also known as open system cards. They are accepted at locations and merchant outlets approved banks. Closed looped cards- Mostly gift cards are issued as closed-loop cards.
Do prepaid cards charge the same fees?
Following is the list of types of fees that prepaid cards may charge. It is to be noted that not all prepaid cards charge the same fee or offer the same services. You cannot use this card unless you load money onto it. The card does not fulfil all safety obligations and hence can be misused in case of loss or theft.
What is a closed loop gift card?
Closed looped cards- Mostly gift cards are issued as closed-loop cards . Their acceptance is limited to the affiliated merchant outlet for buying goods and services at those outlets only. Semi-open looped cards- These are accepted by many merchant outlets or chains, who are affiliated with the card.
What is a prepaid credit card?
Prepaid Credit Cards are issued by banks and financial institutions and can be used for transactions in a very similar way as a credit card. Prepaid credit cards come loaded with funds and works using a very simple process. Unlike normal credit cards, which functions on borrowed credit from the bank, customers can make purchases using ...
How long is Baroda gift card valid?
The Baroda Gift Card can be used at various merchant outlets and comes with a validity of one year. Purchases can be done across India in Rupees and can also be used for online transactions. The Baroda Gift Card uses the Verified by Visa platform for e-commerce transactions.
Do prepaid cards have a nominal issuance fee?
A nominal issuance fee might be charged by banks when a prepaid card is offered and the credit score of an individual is not a key criteria when approvals are done.
What are the different types of prepaid cards?
There are different types of prepaid cards available in the market and this varies depending on the issuer. Open looped cards - Open looped cards are branded with the network they are affiliated to and are also called open system cards.
Can a prepaid card be used for ATM withdrawals?
Prepaid credit cards can be used to pay for any good or service and customers do not have to worry about the hassles of making cash transactions. Open looped prepaid cards can be used to make ATM cash withdrawals by customers.
What does Netbanking cover?
Card holders can also get insurance covers for death or Personal Accident, loss of checked-in baggage, Passport reconstruction and protection against fraudulent transactions done when the card is lost or stolen. NetBanking can be used by card holders to track card balance , spend and other details.
Can you use a prepaid card to pay employees?
For employee not holding a bank account, salaries can be distributed using prepaid credit cards by employers. Prepaid cards can also function as a gift card and can be used as travel cards to load currency when an individual is traveling abroad.
Expressions Gift Card
Deciding what to gift your dear ones is one of the biggest pressures of life, isn't it? #SendAGift of choice with personalized Expressions Gift Cards through iMobile and RIB
Pockets, the Digital bank
You can download the Pockets app and create your wallet instantly – it’s available everywhere you go – right in your pocket. Fund it instantly using any bank debit card or Internet Banking and it's ready for use.
Gift Card
The occasion of gifting becomes extra special when the gift comes as per the receiver’s choice. ICICI Bank is pleased to bring you a gift that will not fail to impress your family or friends.
Meal Card
ICICI Bank is delighted to introduce the ICICI Bank Meal Card - the card that offers the ease and convenience of providing employees with meal allowance on a card platform.
Reimbursement Card
Reimbursement Card is a Prepaid Card for payments related to settlement of expenses of employees.
Why do people use prepaid cards?
Prepaid cards are best fit for someone looking for a convenient way to pay without opening a credit account. Though a credit account allows for more opportunities, consumers typically choose prepaid cards to control spending, control fees or make purchases.
What is a prepaid card?
A prepaid card, also called a pay-as-you-go card, is a product that only lets you spend money you’ve loaded onto it in advance. Instead of borrowing money from a bank that you must pay back later (as with a credit card), you are spending your own preloaded money. One of the conveniences of prepaid cards is that they are available almost anywhere, from grocery stores to gas stations, and you can use them anywhere their payment network (such as Visa or Mastercard) is accepted.
How does a charge card work?
A charge card is very similar to a credit card, with a few key differences. As with a credit card, a charge card allows you to borrow money from an issuing bank to cover the purchases you make. The main difference is that a charge card requires you to pay your balance in full each month to avoid a penalty. Unlike credit cards, charge cards have no preset spending limit or APR. These cards tend to have excellent rewards and benefits.
Do prepaid cards have monthly fees?
Affordability: Prepaid cards require some sort of monthly fee, but we made sure to find options that aren’t packed with added costs and hidden fees. Extra perks: Due to the nature of prepaid and debit cards, there aren’t many opportunities for earning rewards, credit-building or access to exclusive perks.
What happens if you don't pay attention to your credit card?
If you don’t pay attention to how much money you have on your card, you can wind up unable to pay at the counter. Fewer protections. “Prepaid cards do not offer as many legal protections to consumers as traditional debit or credit cards,” says Monica Eaton-Cardone, co-founder and COO of Chargebacks911.
Is a prepaid card a credit card?
Prepaid cards are not credit cards, but they still have protections. Prepaid cards in a payment network such as Mastercard or Visa might enjoy zero liability protections, as in the case of the Gloss Prepaid Visa RushCard.
Is a bank account a debit card?
A bank account’s card is called a debit card – it operates in a similar way, but it is tied to the account’s funds. Neither is a credit card, which basically provides short-term loans to the cardholder. A prepaid card can have similar features to a bank account, however.
Why do people use prepaid credit cards?
Help you stay within budget. Even if you have perfectly good credit and can get approved of for a great cash back credit card , a prepaid credit card is a helpful way to keep you on budget. These cards offer the same ease of a credit card (just swipe and go) without the fear of overspending.
What is a virtual card?
Virtual cards that hide your credit card number when making purchases online. Personalized cards let you design your card using a picture of your choice. Photo cards give your card an extra layer of security by including your picture on the card.
Does Walmart have a cash back card?
Walmart MoneyCard® Visa® or MasterCard® with Cash-Back Rewards. Apply Now. Walmart offers two versions of their MoneyCard®—the Walmart MoneyCard® Visa® and the Walmart MoneyCard® MasterCard®. Both cards are nearly identical and are great for anyone who shops at Walmart frequently.
What is the best credit card for travel?
Finally, prepaid credit cards are some of the best credit cards for travel. This is because they aren’t linked to your checking account, so if someone steals your card, you’ll only be out the money that was loaded onto the card and not your entire savings or checking account balance.
Do you need a credit check to get a Walmart card?
No credit needed. Like the other cards on this, you don’t need to go through a credit check to be approved for the Walmart MoneyCard® Visa® or MasterCard® with Cash-Back Rewards. There’s also no overdraft fees with this card, and no bank account required to sign-up.
What is secured credit card?
Secured credit cards allow you to build credit ( unlike prepaid cards). 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 offers better rates. Some secured cards offer rewards.
Does Bancorp Bank have a hidden fee?
However, the Bancorp Bank-backed CARD.com prepaid Visa or Mastercard isn’t all style over substance; it charges no hidden fees, offers free cash withdrawals at over 32,000 MoneyPass® ATMs, and although the $9.95 monthly fee is high, it can be waived with monthly deposits totaling $1,000 or more.
What is greenlight debit card?
Greenlight is a debit card for kids, managed by parents. Parents set flexible controls and receive real-time alerts while kids monitor their balances, set goals, and learn how to manage money. Receive Mastercard’s Zero Liability Protection. Debit cards are FDIC-insured up to $250,000.
How do prepaid cards help you?
Prepaid cards teach you to live without debt. Credit cards make it easy to generate debt that requires you to cough up interest charges when you carry balances. Prepaid cards are like training wheels — the money management skills they help you develop can condition you to use credit cards without carrying balances.
Is Brinks Direct Deposit a credit card?
With Brink’s Direct Deposit, you can get paid faster* than a paper check. No late fees or interest charges because this is not a credit card. Use the Brink’s Money Prepaid Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply.) *Card issued by Republic Bank & Trust Company, Member FDIC.
What is a prepaid card?
A prepaid credit card, which is really more akin to a debit card, is a piece of plastic that externally resembles a credit or regular debit card in every way. But behind the scenes, prepaid cards tap the cash you deposit into the card account rather than your credit line or checking account.
Is mango a debit card?
Mango is a safe and convenient way to manage and access your money when and where you need it. The Mango Card is a prepaid card account and there are no hidden fees or interest charges. See your Cardholder Agreement for fees and details. You can use your Mango Card everywhere debit Mastercard is accepted.
Do prepaid credit cards have cash?
Even the best prepaid credit cards have a limited function — to act as a cash substitute wherever credit or debit cards are accepted. Despite their name, prepaid credit cards are not credit products and do not offer a cardholder the option to finance purchases over time.
Can I get a prepaid card with no credit?
You can obtain prepaid cards whatever your credit history (or lack thereof), which means they are a way for consumers with low or no credit scores to shop with plastic at retail and online venues. Prepaid business credit cards also exist, and provide a safe way for businesses to manage their financial transactions.