Where can you get a prepaid credit card?

You can purchase prepaid cards from retailers' stores or websites, other online sources, check-cashing businesses and banks or credit unions.

How can you add money to a prepaid credit card?

Funds can be added to the cards through direct deposit, at stores or by depositing checks using ATMs or mobile devices.

How can you check your balance?

Want to know how much is left on your card? Depending on your card, you can usually check your balance via a phone call, text alert, email alert, a website, a phone app or an ATM. You may be charged a fee for certain methods.

Do prepaid credit cards have any consumer protections?

Currently, some prepaid cards are covered by some consumer protection laws and regulations, but others are not. <a href="http://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-strong-federal-protections-prepaid-account-consumers/" target="_blank">That will change in October 2017, when new CFPB rules go into effect</a>. The new rules will help customers avoid costly fees and give them the same protections that come with traditional debit and credit cards. Consumers will be able to compare cards more easily, and their money will be safe if their cards are lost or stolen. Under the new rules, fees must be disclosed on the outside of card packaging. Consumers who report lost or stolen cards within two days will be only liable for up to $50 of their losses. Issuers must provide free and easy access to prepaid cardholders' account information, and those issuers who do give prepaid-card consumers the option of spending more money than they have deposited in the account must give protections similar to those on credit cards.

How Prepaid Cards Work & Why You Might Want One

Guide to Prepaid Debit Cards: Pros & Cons, Hidden Fees & More

Name: Guide to Prepaid Debit Cards: Pros & Cons, Hidden Fees & More
Item: Guide to Prepaid Debit Cards: Pros & Cons, Hidden Fees & More
Author: Michele DiGirolamo

Compare the best prepaid credit cards today to get the features and benefits you need, such as bill pay, ATM access, direct deposit and more.

ByMichele DiGirolamo

Contribution by1 expert

Updated: March 19, 2024

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About Michele DiGirolamo

Michele DiGirolamo has worked as a journalist and non-profit communications administrator and now writes about business, health, food and lifestyle topics from Haddonfield, NJ.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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How Prepaid Cards Work & Why You Might Want One

Guide to Prepaid Debit Cards: Pros & Cons, Hidden Fees & More

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