Free Prepaid Credit Cards
From LoveToKnow Creditcards
You can find free prepaid credit cards that do not come with some activation fees, shipping fees, and other fees. You’re going to have to look long and hard for prepaid cards with available balances already loaded onto them for your use at no charge to you.
Prepaid Credit Cards
Prepaid credit cards are not like traditional cards in the sense that there is no revolving balance available to the cardholder. The balance will continue to decline as you use the card. The biggest difference is that the available balance on a prepaid card is loaded onto the card, and there is no credit extended.
Prepaid cards look just like regular credit cards because they feature an account number, expiration date, and the logo of a major credit card issuer, such as Visa, MasterCard, or American Express.
Some prepaid cards allow cardholders to replenish balances, but with some prepaid cards once the balance is gone the card is no longer valid.
Free from Fees
Prepaid credit cards often have a wide variety of fees. Some of the prepaid card issuers tack on a huge assortment of fees including:
- Initial purchase fee
- Usage or transaction fees
- ATM fees
- Inquiry fees
- Deposit fees
- Monthly or annual fees
While some of these fees are standard among the prepaid card industry, tacking every one of these fees (and more) onto one account will result in the cardholder losing a good portion of their balance to fees instead of allowing the balance to go toward purchases.
You should look for free prepaid credit cards, or in other words, cards which do not have any fees attached to them whatsoever. You want to find a card that doesn’t cost anything to buy, and which does not have fees for transactions or customer service inquiries.
Find Free Prepaid Credit Cards Online
Take care when searching among the various websites offering prepaid credit cards without fees. Don’t input your bank account number and other personal financial information into websites that you don’t know or trust. It doesn’t take a lot of effort to create a website that appears to be a site for prepaid cards, but that could be fraudulent. Giving out your personal information without any regard for online safety is never a good idea.
You are probably not going to find a prepaid credit card that does not have any fees whatsoever. You will need to choose cards which have the least amount of fees. For example, even if you find a card that does not have a purchase or transaction fee, you may be required to pay a fee when you withdraw funds from an ATM using the card. Some issuers allow cardholders the option to choose among their fees; many companies allow cardholders to decide whether they would like to pay a fee for each transaction, or if they would instead prefer to pay a flat monthly fee.
Websites that offer prepaid cards with the least amount of fees include, but are not limited to:
Promotional Cards
Sometimes you can find promotions and other giveaways which will include absolutely free prepaid credit cards. The card come without usage fees and the balance is already loaded onto the card. You may receive this type of card as a bonus, for signing up for a program, or as a promotional gift. Usually these cards do not have a significant amount of money loaded onto them, but they are free nonetheless.
Do not pursue membership into a program or service simply to get your hands on a free prepaid debit card. The money you receive on the card may not equal the amount of money the program or service costs you. Signing up for a service with an annual fee of $50 does not make good financial sense if you’re only doing it to get a free $10 card.
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This page has been accessed 1,693 times. This page was last modified 01:48, 8 November 2008.
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