Best Prepaid Debit Card Offers for 2020

Getting acquainted with the world of credit cards? We advise to familiarize yourself with managing a credit card by getting one of best prepaid debit cards. Prepaid cards often offer guaranteed approval for all customers without credit check, and they can be used just like a regular credit card for purchases and bill payments. Best of all, you do not have to worry about interest rates, late fees or exceeding your credit limit. Prepaid debit cards are designed to teach you budgeting card payments and provide you with secure way to shop. Scroll down to find the right card for you!

July 2020: BEST PREPAID CARD

5
Card Overall Rating
Any Credit
Overdraft Available
No
Instant Response
No
Credit Check
No
Activation Fee
See terms
  • Unlimited by Green Dot Bank. Banking. Saving. Simple.
  • 2% interest (APY) on your savings + 2% cash back on online and mobile purchases.
  • Visit GreenDot.com for terms and conditions.
  • 2% Annual Percentage Yield as of 6/2/2020, on savings up to $10K, may change anytime.

More Prepaid Debit Cards

5
Card Overall Rating
  • Unlimited fee-free ATM withdrawals at Allpoint ATMs
  • Up to 10% cash back on debit card purchases
  • Up to 1.00% APY on savings
Overdraft Available
No
Instant Response
No
Credit Check
No
Activation Fee
$10
5
Card Overall Rating
  • Unlimited by Green Dot Bank. Banking. Saving. Simple.
  • 2% interest (APY) on your savings + 2% cash back on online and mobile purchases.
  • Visit GreenDot.com for terms and conditions.
  • 2% Annual Percentage Yield as of 6/2/2020, on savings up to $10K, may change anytime.
Overdraft Available
No
Instant Response
No
Credit Check
No
Activation Fee
See terms
5
Card Overall Rating
Any Credit (No Credit Check)
  • Get your tax refund faster than a paper check.
  • No-Fee Cash Withdrawals at ACE.
  • Use everywhere Visa® debit cards are accepted.
  • Manage your money online and on-the-go.
  • ACE Elite with Direct Deposit FeeAdvantageTM Plan.
  • Earn Payback Rewards.
Overdraft Available
Yes
Instant Response
Yes
Credit Check
No
Activation Fee
See terms
5
Card Overall Rating
Any Credit (No Credit Check)
  • Get your tax refund faster than a paper check.
  • No-Fee Cash Withdrawals at ACE.
  • Use everywhere Visa® debit cards are accepted.
  • Manage your money online and on-the-go.
  • ACE Elite with Direct Deposit FeeAdvantageTM Plan.
  • Earn Payback Rewards.
Overdraft Available
Yes
Instant Response
Yes
Credit Check
No
Activation Fee
See terms

Best Prepaid Cards

Prepaid debit cards do not require credit history, so they are a great way to familiarize yourself with managing a card account. You can conveniently manage your finances using a reloadable prepaid card. To start using a prepaid card, you will need to load it first using a direct deposit or any other available option. A prepaid card allows you to use your own money and therefore, there are no interest rates, late payment fees or any other fees that are usually associated with a credit account.

Here are a few things to keep in mind when deciding on a prepaid debit card and some of the perks associated with these cards:

  • Prepaid and debit cards do not help you to build or improve credit rating as they are not reported to the major credit bureaus. However, using a prepaid card you can get into the habit of paying your bills on time, which will be a good help once you have a credit card.
  • In most cases, prepaid debit cards offer guaranteed approval for all customers. Since no credit line is extended, there is no need to check your credit history or employment. However, there may be exeptions, so just be attentive.
  • You can use prepaid cards to make secure online purchases and bill payments. While prepaid cards do not have all protections that are offered with credit cards, you are still protected and can dispute unauthorized charges.
  • Cardholders can also benefit from incentives like cash back offers and rewards programs. However, only a limited number of prepaid cards gives access to such programs.
  • Prepaid debit cards allow to control expenses. You can load your card with money you are planning to spend this month and thus, keep track of your budget.
  • You can avoid annoying monthly and annual fees. Some prepaid cards waive monthly fees if you maintain specific balance or load a deposit once a month.
  • Most prepaid cards have no activation fee. Online prepaid card offers have various options, including no fee options.
  • No worries about late or overdraft charges. Most prepaid cards simply decline a transaction if its amount exceeds available funds.
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This tool finds credit offers that suit your situation best. However, only lenders and issuers decide whether you'll be approved or not for an offer.

Not Sure Which Card to Choose?

Ask Our Experts or Read Credit Card FAQs
A prepaid card is a payment card that you load with money before you can use it for purchases. Prepaid cards may look like credit cards, as they may have numbers, your name and Visa or MasterCard logo. But prepaid cards are different - you are not...
There are prepaid cards you can apply and which will have your name imprinted on. However, no one of the card issuers will be able to review your application, approve you, and send you a card overnight. The issuing process takes at least two weeks...
Most prepaid cards do not report to the credit bureaus as these are not about extending credit to you. Prepaid cards are not credit cards, thus they do not help your credit. But these are a good alternative to carrying cash. If you are interested in...
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