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  1. #1
    Registered User Junior Member
    Posts
    31

    Why Would I Want a Prepaid Card

    As someone who doesn't have a credit card, I use cash a lot. Some of my friends think I should use a prepaid card or a debit card instead. But I don't see any advantages. Especially with a prepaid - which carries all sorts of fees.

    So why should I get a prepaid card?


  2. Why Would I Want a Prepaid Card
  3. #2
    Registered User Pro Member
    Posts
    555
    For the convenience of not having to take out and carry cash around. Stolen purses and wallets happen.

    Also, it's a good way for families to make sure no one overspends.

  4. #3
    Registered User Semi Pro Member
    Posts
    270
    For some people, the cost of a bank account are too high, and they cannot get a credit card. But they need that 16 digit account # to pay for some items. Thus: prepaid debit cards.

    Costs look high, but overall cost is less than being fleeced by banks over fees. It only takes one or two NSF charges to your account and a returned item fee to prove that.

  5. #4
    A lot of people use pre-paid debit card to receive their government benefits. In some places, I believe it may be mandated by law.
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  6. #5
    Registered User Semi Pro Member
    Posts
    283
    Quote Originally Posted by Frugal Mom View Post
    A lot of people use pre-paid debit card to receive their government benefits. In some places, I believe it may be mandated by law.
    I had not thought of that, but it makes a lot of sense.

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