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Using prepaid debit cards

Since most credit cards have a high spending limit, many users go on a shopping spree and buy stuff that they do not need and cannot afford. Repaying this amount increase your debt and results in a lower credit score. In the current economic conditions, where it is important to conserve every penny, it is advisable to use a prepaid debit card while shopping, so that you do not spend more than what you can afford.

A prepaid Mastercard is accepted at all places where a normal Mastercard credit card can be used, both offline and online. It can be used for making cash withdrawals from an ATM, however, there is a limit of 2 withdrawals per day, and some charges will be debited from the card. While using a prepaid Mastercard for making purchases at point of sales terminals in shops and supermarkets, it can be used as either a prepaid debit card or a prepaid credit card. For a prepaid debit card, a PIN will be required, and for a prepaid credit card, validation will be done using your signature.

You can load money on to your prepaid debit card by direct deposit or at a Green Dot Reloading Location. There are no fees deducted for loading the prepaid debit card by direct deposit. The minimum amount that can be loaded on to the card is $10 and the maximum amount that can be loaded is $2500. The maximum balance that the card can have is $2500, and it can be used to make a maximum of 12 purchase transactions in a day. The maximum transaction amount is $1,500.

The balance on the prepaid debit card can be either checked online or by calling the customer support number. In case the transaction value is more than the balance on the debit card, the card will be declined. In case the card is lost or stolen, users should contact customer support immediately.