7 Key Benefits to Using Prepaid Debit Cards
Prepaid debit cards are similar to credit cards, but they require upfront collateral (cash) before you can use them. There are actually several benefits that come with using prepaid debit cards versus a traditional credit card.
1. Perfect for College Students
One of the easiest and most convenient ways to provide money for a student is with a prepaid debit card. You can set monthly limits that get reloaded at the end of the month, helping the student operate within the budget you specify.
2. Safer Than Carrying Cash
Like credit cards, if your prepaid debit card is stolen, you are protected. If someone takes your cash, you are not!
3. Helps You Better Manage Your Budget
Since a prepaid debit card isn’t a credit card, it won’t allow you to make purchases on credit. Thus forcing you to stay within your set budget.
4. No Credit Check or Application
A prepaid debit card, like the kind you can get from ACE Cash Express, uses upfront collateral, so there’s no need for credit checks, long applications to fill out, or the concern of being denied an account because of bad credit.
5. No Credit Card Bill
There’s never a credit card bill with a prepaid debit card, because it’s already been paid for. Prepaid credit cars help you only spend what you have.
6. Accepted Everywhere
Prepaid debit cards utilize either Visa or MasterCard, so they can be accepted by any merchant that supports those electronic payment networks.
7. Get Cash from any ATM
You can use a prepaid debit card at almost any ATM to withdraw cash.
Related Sources:
ACE Cash Express provides financial services, including payday loans, short-term consumer credit, check cashing, bill payment and prepaid debit card services
