Editorial Note: IntuitCredit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted.
Advertiser Disclosure
We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.
Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.
Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.
Prepaid cards are a type of card that let you access money you’ve loaded to the prepaid card account.
They may sometimes be called “prepaid credit cards” or “prepaid debit cards,” but unlike credit cards, prepaid cards don’t involve borrowing any money, which means there’s no credit check required. And unlike debit cards, prepaid cards aren’t linked to your bank accounts.
Instead, you add money directly to the prepaid card account. When you make purchases with the card, you use the money you loaded.
A prepaid card can be a good alternative to acredit cardif you want to avoid the temptation of racking up debt. It can also provide the convenience of plastic if you don’t qualify for or have achecking account.
Here’s our take on the best prepaid cards of 2023, plus some alternatives for you to consider.
Looking for a credit card with bad credit?Compare Cards Now
| Card | Best for |
| Bluebird® American Express® Prepaid Debit Account | No monthly fees |
| Mango Prepaid Mastercard® | Saving money |
| American Express Serve Cash Back® | Cash back rewards |
| Walmart MoneyCard | Walmart shoppers |
| FamZoo | Kids |
- How we picked these cards
- How do I get a prepaid card?
- Do prepaid cards hurt your credit?
- Are prepaid cards worth it?
- Alternatives to prepaid cards
Best for no monthly fees: Bluebird® American Express® Prepaid Debit Account
Here’s why:A lot of prepaid cards charge various fees. But if you’re fee averse, you’re not totally out of options — the Bluebird®American Express® Prepaid Debit Account could be a solid choice for you.
It comes with the following:
- No monthly fee
- No fee to get the card online ($5 card price in store)
- No ATM withdrawal fee at MoneyPass ATMs ($2.50 fee at other ATMs, plus the ATM operator’s fee, if any)
- No fee for cash and debit card reloads at Walmart (but up to $3.95 at other retailers)
You also have the option to load money onto your card for free via direct deposit or a mobile check deposit.
The only drawback to free mobile deposits is the 10-day waiting period. If you want your money sooner, you’ll have to pay 1% or 5% of the check amount, depending on the type of check, with a $5 minimum fee.
Approval Odds compares your credit profile to the profiles of already-approved applicants or to lender criteria.Explore Cards Now
Best for saving money: Mango Prepaid Mastercard®
Here’s why:While some other prepaid cards allow you to set aside money in a separate savings account, you’ll be hard-pressed to find a card that’ll reward you more for doing so than the Mango Prepaid Mastercard®.
Its savings account offers an annual percentage yield, or APY, of up to 6% on balances as high as $2,500. You’ll get a 0.10% APY on balances higher than that.
To qualify for the 6% APY, you’ll need to make at least $1,500 in “signature purchases” each month and have a balance of at least $25 in your savings account at the end of the month. “Signature” purchases are transactions in which you don’t use your PIN to authorize the sale.
But there are some fees to be aware of.
- There’s a $5 monthly fee, which the card issuer waives if you receive at least $800 in direct deposits each month.
- There’s no activation fee.
- There’s a $3 fee for domestic ATM withdrawals (plus any fee the ATM operator might charge).
- You may pay a fee to load cash onto the card, but it depends on how and where you load money onto the card.
Learn more about theMango Prepaid Mastercard® in our editorial review.
Best for cash back rewards: American Express Serve Cash Back®
Here’s why:Rewards are one of the biggest features you’ll miss out on if you avoid credit cards. But with the American Express Serve® Cash Back, you’ll earn 1% cash back, which is applied to your account and can be used for future purchases, on every purchase you make.
While that doesn’t compete with the top cash back credit cards, it’s better than nothing.
Here are some of the fees the American Express Serve Cash Back® comes with.
- A monthly fee of $7.95, unless you live in New York, Texas or Vermont
- No fee to get the card online (up to $3.95 card price in store)
- No fee for withdrawals from MoneyPass ATMs (up to a $2.50 fee per transaction for out of network ATMs, as well as any fee the ATM operator may charge)
- Cash reload at retail locations can cost you up to $3.95, depending on the retailer
To learn more about the American Express Serve® Cash Back, read our editorial review ofall three Serve® cards.
Best for Walmart shoppers: Walmart MoneyCard
Here’s why: If you’re a frequent Walmart shopper, you might appreciate that you can use the Walmart MoneyCard to earn 3% cash back for shopping at Walmart.com, 2% at Walmart gas stations and 1% at Walmart stores — for a total of up to $75 in cash back each year.
But the card comes with some fees, including the following:
- There’s a $1 card purchase fee.
- You’ll pay a $5.94 monthly usage fee, which can be waived if you set up a qualifying direct deposit.
- There’s no fee to add cash using the in-store app at Walmart — but adding cash at the register will cost you $3, and other locations will run you up to $5.95.
- Expect to pay fees for ATM withdrawals, teller cash withdrawals, overdrafts, foreign transactions and more.
You can also bank with the Walmart MoneyCard. Some of its banking features include overdraft protection, early paycheck access through direct deposit, and bill pay. You can also earn 2% APY on any money you have in savings.
Best for kids: FamZoo
Here’s why: The FamZoo card gives parents a prepaid option to allow their kids the chance to earn and spend money. It also has built-in tools that can help teach financial responsibility.
Parents load up a main funding card, which they can then use to transfer money between each family member with a card. As a parent, you can use the card to distribute money for things like errands, chores or allowance — it’s up to you. You can also request reimbursements or contributions to a shared family fund.
Here are some of the card’s other key features and fees you need to know.
- There’s a $5.99 monthly family subscription fee, but you’ll save if you prepay for 6-, 12- or 24-month packages.
- FamZoo doesn’t charge certain common fees, like for ATM withdrawals, but other fees may apply.
- There are multiple ways to reload, but fees and transfer speeds can vary.
- You can only load $2,500 per day, and the max total you can keep on the family cards is $5,000. Plus, other limits on loads, transfers and withdrawal limits apply.
There are also handy financial tools that can help kids learn to monitor spending, make budgets and save using automatic deductions. Parents can opt to reward responsible financial behaviors with parent-paid interest and parent-paid chore commissions.
Looking for more family finance tools? Check out our article on money and finance resources for kids.
How we picked these cards
The bestprepaid cardsare not only great budgeting tools, but they also provide a lot of other features and are relatively affordable. We considered several factors as we compiled our list, including fees, extra benefits, free reload options and ways to get money back.
We also wanted to highlight cards that go above and beyond the norm. The cards we chose have special features, like a high-rate savings account, compatibility with popular digital wallets or maybe a huge free ATM network.
How do I get a prepaid card?
Depending on which card you want, there are a few different ways you can apply.
- In-store —Some retailers, like Walmart, allow you to purchase and load money onto a new prepaid card.
- Online —Many prepaid cards allow you to apply through their websites.
- At a bank branch —Some banks, like Chase, offer prepaid cards that you can apply for at your local branch.
Do prepaid cards hurt your credit?
Prepaid cards don’t hurt your credit. Unlike credit cards, you aren’t borrowing any money from the card issuer — you’re accessing your own money that you’ve uploaded to the card account.
Because of this, prepaid cards don’t require a hard credit inquiry, which can have a slightly negative effect on your credit scores.
But prepaid cards also don’t have any positive effect on your credit. With a credit card that reports to the three major consumer credit bureaus, making payments on-time and in full and keeping your overall balance low can help you build credit history. Prepaid cards don’t report any of your activity to the bureaus, so they won’t help you build credit.
Are prepaid cards worth it?
Prepaid cards can make sense in certain situations — for example, if you don’t have a checking account or you just don’t want the temptation of using credit.
But there can be downsides to prepaid cards. One major downside? The relatively high fees just for holding, loading, or even withdrawing money from the card. And you won’t build credit by using a prepaid card. If you’ve already got a bank account, or think you might be interested in opening one, consider your alternatives instead.
Alternatives to prepaid cards
As you decide if a prepaid card would be the right choice for you, here are some alternatives to prepaid cards to consider.
Free checking account
If you’re looking at prepaid cards for your money management because of the fees that can come with bank accounts (like overdraft fees), you might be interested in a free checking account from a bank or credit union instead.
Secured credit card
Prepaid debit cards can’t assist you in building creditlike asecured credit card can. Compare offers for secured credit cards on Credit Karma to learn more about your options — some secured cards don’t require credit checks or even bank accounts to apply. Keep in mind, however, that they do require a security deposit, so you’ll have to put money down to use this type of card.
Approval Odds compares your credit profile to the profiles of already-approved applicants or to lender criteria.Explore Cards Now
About the author: Ben Luthi is a personal finance freelance writer and credit cards expert. He holds a bachelor’s degree in business management and finance from Brigham Young University. In addition to Credit Karma, you can find his wo… Read more.
FAQs
The 5 best prepaid cards of 2023? ›
Bluebird® American Express® Prepaid Debit Account
The Bluebird® American Express® Prepaid Debit Account will accept an ITIN in lieu of a Social Security number. This is a great prepaid card that won't drain your account with fees, unlike many prepaid card accounts on the market today.
- Our Top Picks.
- Bluebird by American Express.
- American Express Serve FREE Reloads.
- Walmart MoneyCard.
- American Express Serve Cash Back.
- FamZoo Prepaid Debit Card.
- See More (2)
- Final Verdict.
| Account/card | Monthly fee and number of free ATMs |
|---|---|
| Greenlight Prepaid Mastercard | Monthly fee: $4.99 to $14.98. Free ATMs: None. |
| ONE VIP Visa Prepaid Card | Monthly fee: $4.95 or $7.95. Free ATMs: None. |
| Serve American Express Prepaid Debit Account | Monthly fee: $6.95. Free ATMs: About 40,000. |
Bluebird® American Express® Prepaid Debit Account
The Bluebird® American Express® Prepaid Debit Account will accept an ITIN in lieu of a Social Security number. This is a great prepaid card that won't drain your account with fees, unlike many prepaid card accounts on the market today.
The ACE Elite™ Visa® Prepaid Debit Card spending account has the highest limits on this list when considering withdrawal power. With this card, you can withdraw $940 per day from ATMs and up to $5,000 each day at an ACE Cash Express counter.
What is the most popular gift card available? ›- iTunes Gift Card. Both Android and iOS device users can make use of an iTunes gift card to purchase digital content. ...
- Amazon Gift Card. ...
- Sephora Gift Card. ...
- Walmart Gift Card. ...
- American Express Gift Card. ...
- Target Gift Card. ...
- eBay Gift Card. ...
- Starbucks Gift Card.
The two most popular card issuers for applicants without an SSN are American Express and Citibank. These issuers also both offer cards outside the U.S. and if you have an open account with either issuer in another country, your foreign credit activity will be considered.
What prepaid card does Social Security use? ›The Direct Express® card is a prepaid debit card you can use to access your benefit payments. And you don't need a bank account. With the Direct Express® card program, we deposit your federal payment directly into your card account. Your monthly funds will be available on your payment day.
Do all prepaid cards require SSN? ›Do You Need a SSN for a Prepaid Card? Fortunately, no, you don't need a SSN to apply for most prepaid cards. In fact, many prepaid cards can be purchased and used by people who do not have a social security number.
Is there a prepaid debit card with no fees? ›Bluebird® American Express® Prepaid Debit Account
The Bluebird® American Express® Prepaid Debit Account is about as low-fee as you get, charging no monthly fee, no transaction fees, and no direct deposit fees.
Which card has a generous credit limit? ›
Best High Limit Credit Cards of May 2023
Chase Freedom Unlimited®: Best feature: Flexible cash back rewards. Chase Sapphire Preferred® Card: Best feature: Travel rewards. Blue Cash Preferred® Card from American Express: Best feature: Bonus cash back at U.S. supermarkets and gas stations.
- Brinks Prepaid Mastercard. ...
- PayPal Prepaid Mastercard® ...
- NetSpend® Visa® Prepaid Card. ...
- NetSpend® Visa® Prepaid Card. ...
- Bluebird® American Express® Prepaid Debit Account.
Visa and MasterCard are the most widely accepted credit cards. Discover may not be accepted at some businesses. Travel and Entertainment Cards: These are also credit cards issued by banks.
Are prepaid cards better than gift cards? ›The biggest difference between the two reflects their permanence: prepaid cards can be reloaded and used indefinitely, while gift cards can generally only be used until the dollar amount on them is exhausted.
Which is better prepaid card or debit card? ›Prepaid cards can be a good option if you don't have a checking account. Parents who want to give their kids a limited amount of money can also opt for prepaid cards. Debit cards can be a good choice for anyone with a checking account since they provide easy access to your money and don't need to be reloaded.
What gift cards have no fees? ›- Brinks Prepaid Mastercard. ...
- PayPal Prepaid Mastercard® ...
- NetSpend® Visa® Prepaid Card. ...
- NetSpend® Visa® Prepaid Card. ...
- Bluebird® American Express® Prepaid Debit Account. ...
- The Mango Prepaid Mastercard®
Visa gift cards. Visa gift cards are thoughtful gifts anyone can enjoy. They can be used to make multiple purchases everywhere Visa is accepted, unlike other gift cards that are used only at specific stores. Visa gift cards are available in varying amounts, offered by each provider.
Is it smart to buy gift cards? ›They can be a good substitute form of payment if you'd rather not pay cash or use a credit card. Gift cards can be an appropriate gift for the holidays or any other special occasion. You can use gift cards to control spending (helpful for avoiding bank overdrafts). They can be easy and convenient to use.
What's the largest Visa gift card? ›No, you cannot purchase a $1000 Visa gift card. While it is possible to buy prepaid cards with up to $1,000 in value from some retailers, Visa does not offer such an option. Instead, the maximum amount for any single purchase of a Visa prepaid card is typically limited to around $500 or less.
What company sells the most gift cards? ›1. Walmart: Walmart sells gift cards for many popular retailers, restaurants, and brands. Physical and digital options are available.
Can prepaid card be traced? ›
Prepaid cards are hard to trace. No photo identification is needed to use a card. One card can be loaded with thousands of dollars. Transactions are easy and quick.
How to get a free debit card without SSN? ›Regardless of immigration status, everyone deserves access to basic financial services. That's why we're partnering with Axiom Bank, N.A. to offer a checking account and free Visa® Debit Card even without an SSN. Simply verify your identity with a government-issued ID, such as a passport or matrícula consular.
How to get a free card without Social Security number? ›Apply for an individual taxpayer identification number, or ITIN. If you're unable to get a Social Security number, you may still be able to apply for a credit card by using an individual taxpayer identification number, a tax-processing ID number assigned to individuals by the Internal Revenue Service.
How do I get the $16728 Social Security bonus? ›To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.
How much will SSI checks be in 2023? ›Generally, the maximum Federal SSI benefit amount changes yearly. SSI benefits increased in 2023 because there was an increase in the Consumer Price Index from the third quarter of 2021 to the third quarter of 2022. Effective January 1, 2023 the Federal benefit rate is $914 for an individual and $1,371 for a couple.
Can I get a loan with my SSN? ›Having an SSN makes getting a loan considerably easy. A bank/lender can retrieve all the necessary information required to process the loan with a person's SSN. It rules out the need for filling in a plethora of forms or submitting a bunch of documents.
Does Walmart prepaid card require SSN? ›You must be at least 18 years old to register as a primary accountholder. Federal law requires us to obtain, verify and record your name, address, date of birth, and Social Security number when you open an account.
Can you be denied a prepaid card? ›In most cases, you won't be declined for a prepaid card. In general, anyone can buy and use a prepaid card. Some providers require you to register your card when or after you purchase it by asking you to provide certain personal information.
Can you have a prepaid card without a bank account? ›Prepaid cards are a convenient way to pay for things if you are not carrying cash. You do not owe a bill since you are using money you already have. You do not need a bank account to use a prepaid card. You do not need a good credit history to use a prepaid card.
What prepaid cards does Dollar General sell? ›Spendwell Reloadable Visa® Debit Card | Dollar General.
Are prepaid debit cards a good idea? ›
Prepaid cards can be a good way to stay out of debt because you can't spend more than the amount you've already deposited. They're also a useful budgeting tool. Even if you have a checking account, you could put a fixed amount on a prepaid card each month for certain spending categories, such as dining out.
How much does it cost to activate prepaid debit card? ›A prepaid Visa activation fee is a fee that is charged to the buyer of the prepaid card to put value onto the card. It occurs when you first purchase the card. At grocery stores, it is typically a $4.95 fee on top of the amount on the gift cards.
What is the single biggest credit card trap for most people? ›The minimum payment mindset
Here's how most people get trapped in credit card debt: You use your card for a purchase you can't afford or want to defer payment, and then you make only the minimum payment that month.
On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
What credit limit can I get with a 750 credit score? ›The credit limit you can get with a 750 credit score is likely in the $1,000-$15,000 range, but a higher limit is possible. The reason for the big range is that credit limits aren't solely determined by your credit score.
Why prepaid cards are not accepted? ›You don't have enough money left on your card. You haven't activated or registered your card. The address you gave to make an online or phone purchase is different from the address you have on file with your prepaid card provider.
Can I withdraw all my money from a prepaid card? ›The most you can withdraw from a prepaid card is the balance in the card account. Typically, issuers of prepaid debit cards limit balances, but the maximum balance may be as high as $15,000 to $20,000. The maximum amount you can withdraw or spend using a prepaid card account may be limited by the card issuer.
How can I get cash from my credit card without a PIN? ›How to get a cash advance if you don't have your PIN. You can take a cash advance inside a bank lobby that displays the Visa or MasterCard credit card logo. You'll just need to provide a government issued photo ID like a driver's license along with your Capital One card.
Which Visa gift cards do not charge a fee? ›Republic Bank offers fee-free Visa gift cards to their customers. These non-reloadable gift cards can be used anywhere Visa is accepted. They are available in amounts ranging from $25 to $250. To purchase a Republic Bank Visa Gift Card, visit a location near you.
What is the difference between a prepaid Visa and a Visa gift card? ›The biggest difference between the two reflects their permanence: prepaid cards can be reloaded and used indefinitely, while gift cards can generally only be used until the dollar amount on them is exhausted.
What are the disadvantages of prepaid gift cards? ›
There are only a few downsides to using prepaid cards, but they are significant. Prepaid cards come with fees. Cardholders may have a lot of fees, including activation fees, transaction fees, ATM withdrawal fees, reloading fees, monthly fees, or inactivity fees. Check the fine print on the card for fee types.
Do all Visa gift cards charge a fee? ›All Visa gift cards have a fee, and this fee is dependent on the value of the gift card. Visa gift card of $10.00 to $74.99 have a $2.95 fee. Visa gift card of $75.00 to $149.99 have a $3.95 fee.
Do all Visa and Mastercard gift cards charge a fee? ›General-use gift cards, such as those from Visa and Mastercard, tend to have one upfront fee, often called a purchase or activation fee, which the gift giver would pay. The fee might be $2.95 to $5.95, depending on the amount added to the card, based on a sampling of gift card websites.
Is there a fee for Visa or Mastercard gift cards? ›Visa gift cards often have a one-time fee of $2.95 to $6.95 at the time of purchase, based on the gift card's value, whereas most Visa debit cards and credit cards cost nothing to get.
What is the activation fee for a $100 visa gift card? ›Prepaid Visa Activation Fees
At grocery stores, it is typically a $4.95 fee on top of the amount on the gift cards. An example would be $25 + $4.95 activation fee.
Because it's a prepaid card, spending is limited to the initial amount of money you place on the card at the time of purchase. Cards may be loaded with $10 (minimum) - $1,000 (maximum). Card does not have cash access, but may be used at any merchants that accept Visa debit and credit cards.
Why are prepaid cards not accepted? ›You don't have enough money left on your card. You haven't activated or registered your card. The address you gave to make an online or phone purchase is different from the address you have on file with your prepaid card provider.
What are the risks of prepaid cards? ›Fraudsters can also use prepaid cards to carry out scams, such as card cracking or card testing. In these schemes, fraudsters use stolen or fake card information to load money onto the prepaid cards, then quickly withdraw the funds before the bank detects the fraud.
Are prepaid cards a good idea? ›Prepaid cards can be a good way to stay out of debt because you can't spend more than the amount you've already deposited. They're also a useful budgeting tool. Even if you have a checking account, you could put a fixed amount on a prepaid card each month for certain spending categories, such as dining out.
What are two benefits of prepaid cards? ›A prepaid card allows you to shop for goods and services online, even you don't have a current account with a bank. This allows you to shop in the comfort of your own home and because you are limited to the amount you have on your card, you're less likely to go on an online splurge you might regret later.
What is the difference between a gift card and a prepaid card? ›
A Gift Card usually can only be swiped till the balance in the Gift Card is exhausted. Once the balance is exhausted, the card is of no use. In contrast, a Prepaid Card can be used till the time it has some balance on it.
How much is the Vanilla Visa gift card fee? ›There is no monthly fee, but a dormancy fee of $3.95 will apply if the card is not used for a period spanning 90 days. In addition, a $0.50 fee applies to all signature and PIN purchases. In the event your card is lost or stolen, a $6 replacement fee will be assessed.
Do Visa gift cards lose money over time? ›Unused Gift Cards Can Lose Value
Even though it's illegal for cards to expire for five years (at least), they can start to lose some of their value before then. That's because in certain circumstances, and depending on the state, businesses may be allowed to impose a fee for inactivity after a certain period of time.