Best Prepaid Cards

A travel money card is a prepaid card that can be used to make purchases while traveling abroad. Also called prepaid travel cards and currency cards, travel money cards are usually safer than carrying cash around while traveling. You can order a travel money card online, and load money onto it in any of the foreign currencies offered. There aren't foreign transaction fees associated with using the card abroad, the way there are with some credit cards. Depending on the card you get, though, there may be fees for withdrawing cash from an international ATM.

The most convenient aspect of travel money cards is the ability to load money in different currencies. So if you travel often and don't want to carry around a dozen different types of currency, travel money cards save you the hassle by letting you load multiple currencies on one card. Travel money cards are also safer than carrying around foreign cash, since a PIN is required to make purchases or withdraw cash.

You use a travel money card the same way you'd use a prepaid card or a standard debit card. However, travel money cards aren't connected to a traditional bank account like debit cards. Rather, you load money onto the card whenever you need to. Another difference between travel money cards and typical debit cards is that there's sometimes an initial fee to get a travel money card, either a flat fee or a percentage of the amount you're loading for the first time.

The best travel money card is the Travelex Money Card, which has no overseas ATM fees and consistently offers some of the best currency exchange rates. But you do have to pay an initial fee, either $15 or 1.1% of the initial load amount, whichever is greater. You can purchase a Travelex Money Card online. Other good travel money card options include the NAB Traveler Card and the ANZ Travel Card, both of which can also be purchased online.

If you'd rather use a travel credit card and earn rewards on all of your purchases overseas, you should check out a rewards credit card with no foreign transaction fees.

The best prepaid business credit card is the Wells Fargo Business Secured Credit Card, thanks to its 1.5% cash back rewards rate and $0 annual fee. However, “prepaid business credit card” is actually a misleading term. Technically, there is no such thing. There are business credit cards, business debit cards, and business prepaid cards, but those are all separate and fulfill different needs. A secured business credit card is the closest thing you'll find because your spending limit equals the amount of the refundable security deposit you have to place, which means you're basically pre-paying for your purchases. 

Business credit cards require a credit check when you apply, may allow you to borrow money, and will relay account information to your personal credit reports. As with credit cards for personal use, secured cards offer the highest approval odds for applicants with bad credit.

Business debit cards won't help you build credit and can't be used to finance purchases, but they do allow business owners and employees with the necessary permissions to access money in a business checking account. Business debit cards can be used to make purchases at the point of sale or for ATM withdrawals.

Business prepaid cards are like debit cards for business but without the checking account. On top of that, not all business prepaid cards can be used at ATMs, so they are primarily for employee purchases. Many of the best business prepaid cards allow you to add multiple cards on the same account without any extra fees.

If a business prepaid card sounds like what you need, you should check out the Bento for Business Visa. It has some of the lowest fees and a tiered pricing structure. So as you add more cards to the account, the cost-per-card goes down. The Bento for Business Visa also has special features, like the option to set spending restrictions by the day or by the category.

Yes. You can buy a prepaid card with a credit card, but you can't load it with a credit card. Some prepaid cards, such as the Amex Bluebird Card, for example, allow you to sign up for a card for free online, so there's nothing to buy upfront. But if you buy a prepaid card in a store, it may cost you some money. That you can pay with a credit card. As for loading prepaid cards with funds, you have to use a bank transfer, check, or cash. Credit cards aren't an option.

On the other hand, if you're trying to buy a prepaid gift card with a credit card, it will depend on where you buy the gift card. Each store decides whether or not to accept credit cards for gift card purchases. Some stores also have restrictions on gift card purchases, such as limits on how many gift cards you can buy at once, for example. People in forums online say that some stores have a store-wide hourly cap on gift card purchases. There are many stores that sell these prepaid gift cards, so if one doesn't work, just try another one.

The best teen prepaid debit card is the American Express Bluebird Prepaid Card because it does not charge activation fees, in-network ATM fees, or monthly fees. Prepaid cards are not actually credit cards, though. There is no credit line associated with prepaid cards, and they do not affect your credit standing. The closest you'll find to a prepaid credit card is a secured credit card.

The Bluebird Card Welcome Kit ($5) can be found at over 4,500 Walmart locations. It includes a temporary card that you can add funds to at checkout, then use immediately. To get your permanent card, register online or via the Bluebird app. Or, you can skip the kit and sign up for free on the Bluebird website, or download the mobile app to register there. You'll then receive your Bluebird card in the mail within 7-10 business days. Most account services can be done online or via the Bluebird mobile app, rather than by going to Walmart.

It's relatively uncommon for prepaid cards to have no major fees. But like most prepaid cards, there aren't any rewards with Bluebird. And like all prepaid cards, teens under 18 will need the help of a legal adult to obtain a Bluebird card. An adult must first open a regular Bluebird account, then establish a Bluebird Family Account for the minor. You must be 13 years old to have a card tied to a Bluebird Family Account.

Just remember that this is an American Express card, which means it isn't accepted everywhere. If a teenager is on a road trip and running out of gas, it would be unfortunate if the next gas station didn't accept Amex. Other prepaid card options without this limitation include the Emerald Prepaid Card and the Western Union NetSpend Card. Both are Mastercards, and neither has monthly fees or activation fees. They do both charge for ATM use, however.

Teens 18 years or older who are looking to build credit should instead consider a secured credit card or a student credit card, both of which report to credit bureaus. Teenagers under 18 years old aren't legally allowed to open their credit card accounts, and will need to be added to an adult's account as an authorized user.

There are several banks that offer prepaid cards. For example, BB&T has one, MetaBank issues the NetSpend prepaid card among others, and Chase offes the Liquid prepaid card. There are also several prepaid cards issued by the Bancorp Bank, including PayPal Prepaid MasterCard.