I saw an advertisement for fee free prepaid card. Is there a catch somewhere?
Answered on Wednesday, August 4th, 2010 by
James Williams

Prepaid debit cards generally are less expensive than credit cards, yet they do have fees. There may be an activation or set-up fee, monthly maintenance, purchase or ATM transaction fees, online or paper statement fees, account cancellation, card replacement and other fees, like for using a certain service or tool. Fee free or free card in advertisement can usually mean that the card charges no activation fee, free transactions or no monthly fee, but their cost might be built into other fees, like that on direct deposit. To find out for sure, you should read terms and conditions of cardholder agreement. Prepaid debit cards are so diverse and offer so many options, you are sure to find one that offers best low or no fees on features important to you.

Other Popular Credit Card Fees FAQs

Please contact your credit card issuer and negotiate this issue with them.

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There are lots of transaction fees associated with credit cards such as cash advance fees, balance transfer fees, foreign transaction fees, and more. Different credit cards from different banks and credit card companies come with different transaction fees. Look through our selection of the best credit card offers and choose the card to meet your [...]

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Our Financial Expert Team
Amy
Miller

While she enjoys writing about money, Amy admits she is not your typical personal finance writer-she is a shopaholic, an impulse/emotional buyer, and unable to save for longer than a few months at a time. But she is trying to improve her finances and shares her experience and tips on learning how to budget money, manage debt, and set goals in her writing for BestCreditOffers.com. She hails from the foggy city of London, but now resides in Salt Lake City.

James
Williams

James Williams is a personal finance expert, trained in journalistic writing. As a freelance writer and professional blogger who works from home, he contributes to many personal finance websites including BestCreditOffers.com.

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