![]() Set your own parent-paid interest rate and show your kids how their money grows each month when they make good decisions to save. Giving account may only be used to donate to 501(c)(3) organizations, sparking conversations around the importance of giving to those in need. Both parents and kids can turn the Greenlight card off it goes missing with a single touch within the Greenlight app.Your Greenlight card comes equipped with an EMV chip which provides you an extra layer of protection and is required for many places around the world. Set your child’s secure PIN, and change it at any time within the app.Ī prepaid card is a great tool for someone who needs a little help budgeting, doesn’t have the best of credit or prefers the convenience of not always pulling out cash. But they aren’t the same as credit cards and they don’t enjoy credit cards’ greatest advantage – the ability to help build your credit. Here we look at who can benefit from a prepaid card, how they work and what they aren’t.Įditor’s picks: Prepaid credit card details Brink’s Prepaid Mastercard®: Best prepaid option from Mastercard That said, there are some reasons to get a prepaid card. Why we picked it: This card can be used anywhere that takes Mastercard – one of the dominant worldwide payment networks – making it a trustworthy choice that can be used almost anywhere. Pros: You won’t face late fees or interest charges with this kind of card, plus you’ll have access to the Brink’s Money Prepaid Mobile App to manage your account. Also, Brink’s has been securing cash and valuables since 1859, making it a card you can count on.Ĭons: This card has no rewards and can’t grow your credit score, limiting its utility. Who should apply? The Brink’s Prepaid Mastercard is a good choice for those who want an easy way to pay prior to opening a credit card or secured card account. Netspend® Visa® Prepaid Card: Best Visa card for everyday use Read more on the Brink’s Prepaid Mastercard. Why we picked it: Being a Visa card, this option gives a convenient way to pay at merchants all over the globe. You won’t run into trouble when it comes to having a viable payment option. Pros: There’s no minimum balance required, no activation fee and no credit check when you open a Netspend Visa card account. You can also use the Netspend Mobile App to manage your account and thanks to the nature of this type of card, there’s no interest charges or late fees.Ĭons: There’s no chance at growing your credit or earning rewards with this type of card, limiting its long-term impact. Who should apply? If you’re looking for a convenient way to spend prior to signing up for a credit card, this is a solid, widely accepted choice. Western Union® Netspend® Mastercard: Best for Western Union members Read more on the Netspend Visa Prepaid Card. ![]() Why we picked it: After opening a card account, you can send and receive a Western Union® Money Transfer, or use their website to shop or pay bills. Pros: Moving your money is easy with direct deposit and much like the other options, this card doesn’t feature late fees or interest charges.Ĭons: This card has a monthly fee of up to $9.95. Also, like all prepaid cards, you won’t earn rewards or improve your credit score. Who should apply? Western Union members will appreciate the new capabilities created by this card. It’s a convenient, simple way to spend for a monthly fee. Netspend® Prepaid Mastercard®: Best Mastercard for everyday use Read more on the Western Union Netspend Mastercard. Why we picked it: Payments can be received quickly via direct deposit, sometimes processed up to two days faster than many banks. ![]()
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