What are prepaid debit cards good for?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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What are prepaid debit cards good for?

Postby spartanic » Sun Jun 06, 2010 9:19 pm

What would you say is the number one reason why you would get a prepaid debit card? Which would you recommend?

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Postby alsteig » Thu Jun 10, 2010 11:49 pm

Maybe if you can't get a bank account or your 10 years old. Go to Walmart they will give you one.

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Postby Mogul of Pineapples » Sat Jun 12, 2010 9:40 pm

They're good for nothing. If you can't qualify for a regular credit card go with an unsecured. Even that will give you more benefits and protection than a prepaid debit card will. The only thing those are used for is gift giving.
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Postby debitcard guru » Fri Aug 06, 2010 9:52 pm

Normally, I would agree with most prepaid cards. However, with the new debit card regulation coming, a lot of people might switch over to them. There are two I would recommend. Since, Wal-mart has a stake in Green-dot. I would say the chances of Green-dot going out of business is slim. The other prepaid debit card is Kroger issued by RBS Citizens, N.A. It has less fees then most prepaid debit cards. RBS might issues similar cards under different store names.

Not sure about the RBS card, I think you can have one other user for the Green dot card. You can get a card for yourself and another person.

Prepaid debit cards are excluded from the new debit card regulations as long as they don't charge an overdraft fee.

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