subject: 5 tips to help you compare prepaid cards [print this page] 5 tips to help you compare prepaid cards 5 tips to help you compare prepaid cards
How do you find the best prepaid cards? There are many of them on the market, so locating the right one for you can be challenging. However, when you know what to look for, it is quite easy.
Here are five things to help you compare prepaid credit cards effectively:
1. Fees
Remember, these companies have to make money somehow. Since they are not going to be making money from customers in the form of interest, they need to make it some other way. Some cards charge higher fees than others every time you put more money on the card, on top of a monthly fee. Therefore, finding the one that has the lowest fees is ideal.
2. Seller
There are a number of companies you can buy these from. You can purchase prepaid cards from petrol stations, banks, and retail stores. However, make sure the VISA or MasterCard logo are on them no matter who you buy through. These are the most widely accepted, and therefore the most convenient.
3. Online deposits
Make sure there are a number of places that you are able to add money to the card. The best ones will enable you to make deposits on the internet as well. This is a huge benefit, and the best cards will have this option.
4. No credit check
Just about every good prepaid card company will not check your credit. If any of them do, then simply do not apply with them. There is absolutely no reason your credit history should be checked, since you are paying upfront for all your purchases.
5. Control
If you are buying prepaid credit cards for your child, you might want to find one that enables you to turn it off after they have spent a particular amount. This enables you to have more control, and teach them good spending habits. However, you might have to pay for this feature. Look for cards that offer this ability at a reasonable rate.
The bottom line, there are many prepaid cards out there. Compare these five features, and you will find the right one for you.
