Best Prepaid Card?

SarahB

I’m looking for a card that I can use instead of carrying cash. (This is really for an older family member but I’m going to set it up for them). Can’t use a debit card tied to a checking because they are terrible with credit so instead of overdraft, we need it to decline the transaction if there aren’t sufficient funds.

Prefer a Visa or MC
No monthly fee (they don’t have a direct deposit available to them)
Minimal or no load fees
Open to suggestions or other ideas!

Thanks!

louis redfoot

prepaid visa debit? available at any supermarket, where the gift cards are located. you can refill them too.

SarahB

@louis-redfoot That is the idea we are going for but it seems every one we found has a monthly fee. When we inquired at financial institutions, they all wanted to link to a checking account. Just thought I’d check in here to see if “greater minds” could lead us in the right direction!

louis redfoot

@sarahb i had an amex business card way back, and there was an option to set the limit (as low as $1 lol) on additional cards (i issued one for an employee). maybe your current bank has something similar.

jtownsucks46

Bluebird?

SarahB

Thanks @louis-redfoot. I’ll check!

SarahB

Thanks @jtownsucks46 . Bluebird looks promising… I can even set it up with myself as the account holder and give them their own card with limited access. Similiar to what @louis-redfoot mentioned above!

Ma Barker

Bluebird is an amex prepaid, if you want a Visa/MC prepaid, check GoBank prepaid. They sell the starter card at WM with $2.95 fee or you can also register online to dodge the fee and just wait for your permanent card. The maximum load to this card is $3000 and there’s maintenance fees that can be waived if you have a direct deposit to it of at least $500.

redmed

@louis-redfoot said in Best Prepaid Card?:

prepaid visa debit? available at any supermarket, where the gift cards are located. you can refill them too.

Great. Now I’ll have to go into the supermarket instead of waiting in the parking lot listening to music.

Burgerwars

Chimp Change offers one. It’s a MasterCard. It’s free as long as you make at least one purchase of any amount every 60 days. The card has a picture of a monkey on front.

marcopolomle

Maybe a “TD Go Card” which is a reloadable Visa Card
It’s basically designed for teens but FAQs say age 13 or over.

zapjb

@ma-barker said in Best Prepaid Card?:

Bluebird is an amex prepaid, if you want a Visa/MC prepaid, check GoBank prepaid. They sell the starter card at WM with $2.95 fee or you can also register online to dodge the fee and just wait for your permanent card. The maximum load to this card is $3000 and there’s maintenance fees that can be waived if you have a direct deposit to it of at least $500.

My Bluebird has no maintenance fees & I don’t direct deposit.

Ma Barker

@zapjb that’s right, I mentioned GoB since OP preferred Visa/MC which is widely acceptable for daily use compared to BB which is AXP prepaid that not a lot of stores accept as tender.

zapjb

You’d be surprised my Bluebird card has been accepted everywhere I’ve tried.

Ma Barker

@zapjb good for you! I have a grocery store that does huge meat markdowns that take only V/MC so hopefully they start taking AXPs although I use CCs only for regular spend. I don’t use DCs for regular spend, all my prepaid reloadables are strictly for MS purposes.

rasheed

Chase Liquid?
https://www.chase.com/debit-reloadable-cards/liquid-prepaid-card

It is free to get for many existing account holders (even if you put it in some else’s name I believe). I think the ATM and now Zelle access is really nice. The linking is for the no fee part, does not require funds availability be linked.

Rasheed

zapjb

@rasheed said in Best Prepaid Card?:

Chase Liquid?
https://www.chase.com/debit-reloadable-cards/liquid-prepaid-card

It is free to get for many existing account holders (even if you put it in some else’s name I believe). I think the ATM and now Zelle access is really nice. The linking is for the no fee part, does not require funds availability be linked.

Rasheed

Chase Liquid has a monthly Service Fee of $4.95. That’s not worth it.

Burgerwars

In adding, many of these prepaid cards start out free, but after a period of time the issuers change their terms and add fees. Two that come to mind are Go Bank and BBVA Clearspend. Now they’re only free if you meet a transaction/direct deposit requirement. I’m guessing the issuers plan this all along or start to go bonkers after they see tons of inactive accounts with small balances.

mom2jel

I’m thinking there’s no reason you couldn’t set them up with a prepaid credit card meant for teenagers: www.doughroller.net/credit-cards/prepaid-debit-cards-for-teens/

I started my kids on Visa Buxx (which was okay; you have to go through a bank to get it; fee’s vary by bank and if you are a current customer), then switched to AmEx’s Serve (was named Pass when we used it).
I liked the AmEx version better for their customer service and online access/controls.

I have our credit card limits capped (I’m going to make a different post about that). Not sure how much the credit card companies “obey” that limit though?
I’m partial to Discover, great customer service in my opinion. You could open a Discover It card, and add your relative as an authorized user (they will get their own card with their name on it). Ask Discover to cap it at $500, set up the online account to alert you for purchases over $, and if your limit reaches $. Then you can put a “freeze” on their card if they go over it.

Ma Barker

I’ve had GoBank prepaid since early 2014 and have NEVER paid maintenance fee either when I have a balance or I have zero when statement posts. They may have revised their T&C several times the last three years but so far, this is one of the best prepaid I have since the hammer fell on a lot of my AXP prepaids.

Burgerwars

@ma-barker Correction for Go Bank. If you had the card before they started the monthly fee, you still have no monthly fee. New customers have a monthly fee unless they meet transaction requirements.