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7 Best Prepaid Debit Cards You Should Know

7 Best Prepaid Debit Cards You Should Know

Prepaid debit cards are a great way for individuals to learn how to be financially responsible. In our world today, cash is starting to become obsolete in comparison to the use of plastic to make purchases. When you go online to purchase items, a place that can offer amazing deals, cash isn’t accepted but credit or debit cards are. This means that missing out on a debit card results in possibly missing out on some amazing cyber deals. But not all prepaid debit cards are made equal. Some come with outrageous fees, difficulties with ATM access, and multiple regulations. Today, we will give a nice overview of six of the best prepaid debit cards on the market today.

1. American Express Serve

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    American Express used to be considered a company for those with higher incomes. With the release of credit cards along with charge cards, this reputation changed and the company became open to more individuals. Now, with American Express Serve, as well as Bluebird, American Express is open to just about anyone. For only $1 a month if you don’t use Direct Deposit or load less than $500 a statement, you can enjoy a prepaid debit card with some of the same benefits I enjoy as an American Express credit card holder. ATM is free at a variety of select locations. Serve is loadable at thousands of locations across the US.

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    2. GreenDot Card

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      Greendot is considered by many to be a top prepaid debit card to choose. The card is free to purchase online. You do have a higher monthly fee of $4.95 compared to American Express. However, if you load more than $1000 a statement, it is a waived fee. In addition, unlike having to either load $500 or use Direct Deposit with American Express to be eligible for a fee waiver, you can have fees waived with Greendot by making 30 or more purchases of any value in a statement. ATM access is free at select locations.

      3. Simple

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        Simple has a unique concept compared to the other cards listed in this article. This Visa card is focused more on saving rather than spending for the individual. You are able to make goals, partitioning money to a specific part of your card reminiscent of a savings account but without being able to make interest. This is all on a contemporary, mobile phone-focused experience. Simple is very simple to sign up for and the savings benefits is a big draw for individuals. It is free to get and there are no fees as long as you keep the card active at least once within a six month period. There are other fees, including when you perform ATM withdrawals internationally, however they are small. You can access your money for free at over 55,000 ATMs across the country.

        4. H&R Emerald Prepaid MasterCard

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          The H&R Emerald Card with MasterCard is a great option from the company that we all know of with filing taxes. The Emerald Card doesn’t come with any monthly fees. There is a one-time loading fee of $4.95 to get started. ATM fees are $2.50, regardless of where you go. That’s a big reason why it isn’t in the top half of our list. However, the quality of the card and company behind it, along with the lack of monthly fees makes it a very competitive card. Just like all of the cards mentioned on the list, the FDIC insurance protects you as a user, ensuring that your money is safe and secure.

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          5. BB&T Money Account

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            The BB&T Money Account card makes the lower half of our list due to the fees associated with the card. While there are a fewer number of fees compared to the other cards on the list, one thing that is certain with this card is that you will pay something every month. As long as you use a BB&T ATM domestically, you are safe from those fees. However, you can’t escape the $6 a month fees that come with holding the card. Even if you load $1000 or more a month, this fee only reduces to $3 a month. If you are a student, look into their special card for the younger crowd, you’ll always pay $3 a month, no matter what. Despite this, it is a card we can recommend because the BB&T name behind this card is very strong. You’ll have almost no trouble finding a BB&T ATM to use, and the features with this card are numerous.

            6. Chase Liquid

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              Chase is a well known credit card company, but little did you know, their prepaid debit cards are just as good. If you are in the market for a debit card, you may find them even better. Their monthly fee of $4.95 makes it the most expensive on the list. Yes, while the Greendot card allows you to get out of the monthly fee if you deposit $1000, there’s no such grace period with the Chase Liquid card.

              Despite this, chances are you won’t be paying anything else. You can use the Chase app to keep track of your transactions, and this card comes with most of the same features mentioned about the other cards in this article. With the name Chase having your back, this is a great card and one of the best to finish off this list.

              Now that you know which of the best prepaid debit cards are out there, why not go out and get one for yourself today.

              Featured photo credit: Financial Queries via financialqueries.com

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              Last Updated on January 21, 2020

              How to Develop a Millionaire Mindset in 6 Simple Steps

              How to Develop a Millionaire Mindset in 6 Simple Steps

              We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

              It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

              How do you go about developing that millionaire mindset? By following these simple steps:

              1. Focus On What You Want – And Take It!

              So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

              Millionaires play to win, not to avoid defeat.

              This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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              2. Become Goal-Orientated

              It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

              Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

              Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

              Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

              You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

              If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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              If you are to become a millionaire, you need to start accumulating money.

              Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

              3. Don’t Spend Your Money – Invest It

              The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

              Stop working for your money and make your money work for you.

              Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

              There’s not just the stock market — there’s also property, and your own education.

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              4. Never Stop Learning

              The best thing you can invest in is yourself.

              Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

              Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

              Learn everything you can about how economics works, how the stocks markets work, how they trend.

              Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

              Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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              5. Think Big

              While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

              There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

              Aim for the stars, if you fail you’ll still be over the moon.

              6. Enjoy the Attention

              To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

              Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

              If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

              Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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              Featured photo credit: Austin Distel via unsplash.com

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