1) To Control Your Spending
Let’s face it, many of us have developed a “Credit Addiction.” We’ve become used to spending beyond our budgets simply because credit cards made it so easy to do. And that’s spelled financial trouble for a lot of people.
Reloadable debit cards change that dynamic. They’re pre-funded cards so you can only spend what you’ve first loaded. You can’t spend beyond your means. So you won’t increase your credit burden and you won’t get hit with higher percentage rates, outrageous penalty fees, or minimum payments that (could) last a lifetime.
Plus, the long-term benefit to controlling your spending is that you actually spend less over time for the things you buy because you’re not adding finance charges to every purchase.
2) To Pay Bills Online
In today’s computer-run world, nearly everyone needs to make an online purchase or pay a bill online from time to time. The only real convenient way to do so is with a credit card. But if you can’t obtain one, or you’ve decided to stop using them, what can you do? Well, you can use a prepaid debit card.
Most merchants that do business online will accept reloadable debit cards. In that way, they work exactly like a credit card. So you can make your normal online purchases just like before. Also, you can pay your recurring bills, like your gas bill or your telephone bill too.
3) To Avoid Carrying Cash
You can’t buy everything online. You still need to do your normal shopping and actually interact with people right? But if you can’t or won’t use a credit card, then you force yourself into carrying around a lot of cash. If that makes you uncomfortable, then one of these stored-value, prepaid debit cards is the answer.
They work just like a credit card at the grocery store or cleaners so you don’t have to lug around a wad of cash. But if you do need cash, most of these cards have ATM features too. So you can withdraw cash if you need it.
4) To Avoid Payroll Check Cashing Fees
If you’ve had trouble working with banks in the past or maybe don’t have a bank account, then you may have had trouble cashing your paycheck too. That means you’ve probably had to use one of those expensive paycheck cashing services. Well, most prepaid debit cards have Direct Deposit features that allow you to load your paycheck directly into your card’s account. Usually with no fees.
That means you can say goodbye to the check cashing fees you’ve been paying and keep more of your own money. Plus, you’re money’s available to you faster and you don’t have to make a special trip or wait in line
People are turning to prepaid debit cards for lots of reasons these days. They may have bad credit, they may have bank issues, or they may just want to take better control of their finances. Prepaid cards are easy to use and you can find great prepaid debit cards at most major retailers or online. You should check them out; the best reloadable debit cards are great financial tools that offer a lot of options for just about everyone.