The Benefits of Prepaid Cash Cards

The average American has 3.8 credit cards; 83% have at least one, and 34% have three or more. Based on these stats, it’s very likely that you have one or two credit cards in your wallet, in addition to your debit card.

Your wallet’s stuffed, and you’re already getting tons of benefits from these pieces of plastic. So you don’t need any more, right?

Wrong! Everyone can use prepaid cash cards, which are slightly different from debit and credit cards.

Read on to see what prepaid cash card benefits you can get by signing up for one.

There Are No Credit Checks

If you’ve struggled to get credit cards because you have poor or no credit, then prepaid cards are ideal for you. Because you don’t need to borrow money (you load your existing money onto the card), the card provider doesn’t need to care about your credit score.

The only thing they need to do is verify your name and address. Then you’ll have a card to use!

It Helps With Budgeting and Control Over Your Finances

When you’ve got a credit card, you can technically spend as much as you want (until you hit the limit). Not surprisingly, many Americans are heavily in debt because it’s tough to control your spending with lines of credit.

However, you can still swipe plastic with a prepaid card, but once your balance reaches 0, you can’t spend anymore. So if you have poor impulse control in shops, this can help you from overspending.

You Can Withdraw Cash at ATMs

While we’re moving toward a cashless society, there are still reasons to have some bills on hand. One of the biggest cash card benefits is that you can use it at ATMs and withdraw money.

The advantage is that you won’t have to pay interest or take a cash advance penalty as you would with a credit card.

You Can Keep Reloading It

What makes prepaid cash cards different from gift cards is not only can you spend the money anywhere, but you can also reload it once you run out of money. You won’t have to throw out the card and repurchase one, which can be a hassle.

There are various ways to reload your prepaid cash card too. For example, you can make direct deposits through your bank account, deposit checks at the ATM, or load money at retailers while shopping.

If you’re interested in learning more about prepaid cash cards, download here.

Prepaid Cash Cards Are Great to Have

Prepaid cash cards have a myriad of benefits, including no credit check, better control over your spending, cash withdrawals at ATMs, and multiple reloads.

If you don’t already have one, then get a cash card today. It’ll make life a lot easier, and you won’t have to handle paper money (unless you want to).

If you need more financial tips, then check out our other blog posts now.