Prepaid Debit Cards
Listed below are prepaid debit cards that offer guaranteed approval and which can be used anywhere Visa or MasterCard are accepted. These prepaid debit cards are not credit cards, but rather loadable debit cards that provide you with a pre-established spending limit.
- 100% Guaranteed Approval* - No Credit Checks
- Free Direct Deposit - paycheck, benefits, tax refunds
- Free Online Bill Payment & Check Writing
- No Overdraft Fees or Balance Minimums
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
- Not a credit card – no credit check required
- No purchase price or activation fee
- Accepted everywhere that accepts Debit MasterCard
- Secure - Your money is safe if card is lost or stolen.
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
- The Mango Card has no activation fee, no purchase fees, and requires no credit check.
- No Direct Deposit fee (Get $20 when you enroll in Direct Deposit*)
- No fee to check your balance with a text message**
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
- No issuance fee online
- No credit check or bank account required
- Use everywhere Visa debit is accepted
- $10 bonus with qualifying Direct Deposit (for a limited time only)
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
- $0 Activation Online - with no credit check
- Access over 18,000 MoneyPass® ATM's
- No Monthly fee for any month with at least 30 purchases
- No Transaction fees on US purchases
- No Overdraft fees
- No Minimum balance required
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
- As an official sponsor of the National Breast Cancer Foundation, purchases from the ACE Elite Card have contributed to over $2 million towards breast cancer awareness and detection.
- Free Direct Deposit - tax refunds get credited in as few as 8 days and paychecks are available up to two days faster*
- No credit check, No application fee, No obligation*
| Introductory APR | Balance Transfer | Regular APR |
| N/A | N/A | N/A |
* Read Terms & Conditions on any credit card offer before you apply.
Understanding How A Prepaid Debit Card Works
Prepaid debit cards enable consumers with very little credit or a poor credit history to make purchases with a prepaid Visa or MasterCard that functions just like a regular unsecured credit card. These are prepaid debit cards with built-in programs for reporting your credit standing, which can help you establish or rebuild your credit history - all while avoiding the hassle of late fees, finance charges, and debt.
When you apply for a prepaid debit card, you will be opening an account with the credit card issuer and depositing money into that account. With sufficient funds in your prepaid debit card account, you can then use the card to make purchases just like any other Visa or MasterCard. This makes prepaid debit cards a good choice for young people with no credit, someone with bad credit, or anyone who wants to carry a card with a fixed credit limit rather than cash.
Prepaid debit cards work differently than Secured Credit Cards. With a secured credit card, the deposit you use to create the account remains untouched and you are given a line of credit equivalent to the amount of your deposit. With a prepaid card, you are basically spending your own money through plastic rather than cash. The credit limit of your prepaid card will be equal to the amount of money you deposit, but that money will be used up as you make purchases. When the funds in a prepaid card account are depleted, the cardholder must deposit additional funds before the account can be used again.
Using Prepaid Debit Cards To Build A Credit History
For people with bad credit, prepaid debit cards are a perfect tool to use in repairing your credit score. Nearly all prepaid cards come with a credit builder plan of some sort. What prepaid card issuers do is report your good standing to one or more of the major credit bureaus. This allows you to establish a good record of responsible card use over time. Since you can't actually go into debt with a prepaid debit card, there is very little risk in using them.
Although you never have to worry about late fees or finance charges with a prepaid debit card, there are some additional fees involved. These typically include annual fees, card loading fees, customer service contact fees, and similar costs. Still, the advantages of building your credit history without getting into debt and the ability to make purchases everywhere Visa or MasterCard are accepted make prepaid cards very valuable to a lot of people.
