7 Best Prepaid Cards to Control Your Budget

While traditional credit cards are great consumer products because they reward your spending, the best prepaid cards are useful because they can help you control your budget.

If you are someone who needs to reign in spending or just get a better handle on your budget, then prepaid cards could be a good solution for you. 

A prepaid card, or prepaid debit card, is a card issued by a bank or financial institution that you can pre-load funds on to for payment.

What is a Prepaid Debit Card?

Prepaid debit cards are slightly different than regular debit cards. Regular debit cards are connected to a checking account and withdraw funds from that bank account every time you make a purchase. With traditional debit cards, you also run the risk of overdrawing your account.

Compared to Debit Card

Compared to Credit Card

Traditional credit cards (like the Blaze MasterCard) are drastically different than prepaid debit cards for several reasons, including the fact that conventional credit cards offer rewards, perks, and have a bill that you pay off every month.

Monthly Fee: $7.95 – Reload Fee: Up to $3.95 – ATM Withdrawals: $0 at MoneyPass ATMs ($2.50 at other ATMs) – Rewards: Unlimited 1% Cash Back

American Express Serve Cash Back

Bluebird by American Express

Monthly Fee: $0 – Reload Fee: $0 at select retailer – ATM Withdrawals: $0 at MoneyPass ATMs ($2.50 at other ATMs) – Rewards: None

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