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If you are on of the many consumers seeking a prepaid debit card for purchasing gifts this holiday season, consider all of the various card offers available to you as not cards are built the same.

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People are quite familiar with Rovio, the maker of multiple Angry Bird games for mobile devices. Due to the success of Angry Birds, Rovio has also been able to build an entire branch of Angry Bird novelty products as well. Now the Finnish company has decided to roll out another product strategy to add to [...]

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Prepaid Debit Card Comparisons and Reviews

Prepaid Debit cards is proud to offer you reviews and comparisons of a selection of the top brand name prepaid card programs. Debit cards are better than cash and are safe and easy to use. Perhaps the only difficult thing about them is deciding which card is the right one for you.  There are literally million of locations worldwide where you can use a prepaid debit card.  Card issuers offer easy ways to add money to the balance of your prepaid cards. You can reload your card at one of thousands of locations near you, and even the internet with most issuers.


Prepaid cards in in the recent news:
January 2013: Justin Bieber is the latest entertainer to promote a prepaid card, as reported by Forbes Here.

Prepaid MasterCard and Visa debit cards are presented as reviews, research and comparison, with direct access to a card's respective online application. This websites is not a bank and does not issue any type of prepaid debit card. The pre-paid cards offer various fees and should be compared before completing applications.

A debit card is not the same financial tool a credit card is. With credit you are essentially borrowing money from a credit line. Debit cards and prepaid cards provide you the ability to use the money you already have, either directly from your bank account tied to the card or funds you have deposited or reloaded with a prepaid card. A Pre-paid card does not help you build credit.


AccountNow® Prepaid Visa® Card



 

  • 100% Approval Guaranteed (subject to I.D. Verification)
  • $0 Monthly Fee
  • No Minimum Balance
  • No Credit Check. No Overdraft Fee.
  • Free† Direct Deposit and Online Bill Payment
  • Use it everywhere Visa Debit Card accepted
  • Now with Purchase Rewards
  • Perfect for Occasional Usage
Full Review


READYdebit® Visa Prepaid Card



 

  • Instant Account Number - No Credit Check.
  • Free Direct Deposit - paycheck, benefits, tax refunds
  • Easy Online Bill Payment & Mobile Account Access
  • No Purchase Transaction Fees
  • No Overdraft Fees or Balance Minimums
  • Withdraw cash at ATMs or get cash back with purchases
  • Free Credit ScoreTracker1
  • Choose Your Card Color - Blue or Pink
Full Review

The History and Evolution of the Debit Card

Chances are that if you were to open up your wallet, you’ll find some cash, identification cards and credit and debit cards, the latter of which has made purchasing goods more convenient than ever. However, while the concept of credit has existed for centuries and the first official credit card was administered in the 1940s, the debit card is a more recent development. Unlike credit cards, when you swipe a debit card, the amount spent is deducted from your bank account.

Here’s a more comprehensive look at how the debit card came to be and came to rise in popularity:

1978: This was the year the first debit card was issued. It was issued by the First National Bank of Seattle to businessmen with strong savings accounts. The first debit cards were only issued to people who had good standing with the bank mainly because debit cards served the same type of purpose as a check at those times did due to the slow transaction process. So money was not immediately withdrawn from the bank account and, unlike today, transactions were not immediately approved for purchase.

1984: In this year, Landmark implemented the first debiting system on a nationwide basis. The system was based on the already existing infrastructure set by ATM machines and credit cards.

1998: In 1998, debit card use surpassed check use worldwide. This is due to a variety of reasons. For one, consumers realized the convenience of carrying around a plastic card in their wallets compared to a bulky checkbook. Secondly, the rise of the Internet made funds easier to keep track of with online banking and digital technology, meaning there was less of a need to balance your checkbook.

2012: Debit cards have continued to rise in popularity since they became available nationally in 1984 and such transactions have continued to greatly outnumber the amount of checks written. Debit cards are also popular because you’re paying for goods with money you already have, and not taking out a “loan” that you’ll have to pay back with interest in the case of a credit card. They'll only continue to likely rise in popularity, thereby making the checkbook more and more irrelevant.

So why use a debit card? For starters, acquiring a debit card is not a reflection of individual credit score, as it is when you apply for a credit card or loan. That’s because when you use it, you’re spending money that you already have, so you can rest assured that you’re not spending outside of your means. If there’s not enough money in your bank account for a specific purchase, your transaction will be declined.

Additionally, banking has become so digitized that you can log on to your bank’s website to view any debits you made and how much money you have left in the account in real-time. And finally, if you’re at a business that doesn’t accept debit cards, you can always have them run the card as a credit card. While this transaction will take 2-3 days to process, the money you spend will still be deducted from your bank account.