2024's Top Prepaid Credit and Debit Cards | Bankrate (2024)

2024's Top Prepaid Credit and Debit Cards | Bankrate (1)Written by

India Davis

2024's Top Prepaid Credit and Debit Cards | Bankrate (2)Edited by

Courtney Mihocik

2024's Top Prepaid Credit and Debit Cards | Bankrate (3)Reviewed by

Jason Steele

2024's Top Prepaid Credit and Debit Cards | Bankrate (4)Edited by

Courtney Mihocik

2024's Top Prepaid Credit and Debit Cards | Bankrate (5)Reviewed by

Jason Steele

Updated May 17, 2024

The listings that appear on the website are from credit card companies from which Bankrate receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Here's an explanation for

If you need to limit spending or use an alternative to bank accounts, the best prepaid cards available can help you with your goals. You can load and reload prepaid cards with funds and then use them like a debit card, avoiding checking accounts and some bank-imposed fees in the process.

At Bankrate, our staff has reviewed and rated hundreds of today's top credit cards, with independence and transparency, so you'll have an easier time making an informed decision. When reviewing the best prepaid cards of 2024, we considered accessibility, affordability and extra benefits, among other factors, to help you decide which prepaid card is best for you.

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Why choose Bankrate

We helped put over 115,000 cards in people's wallets in 2023

Match to cards with approval odds and apply with confidence

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View card list

Best prepaid and debit cards of 2024:

  • Netspend® Visa® Prepaid Card
  • Netspend® Visa® Prepaid Card
  • Self Lender — Credit Builder Account

Table of contents

  • What is a prepaid card?
  • Tips on choosing the best prepaid card for you
  • Expert advice on prepaid cards
  • How we assess the best prepaid cards
  • Frequently asked questions

Best for no activation fee

2024's Top Prepaid Credit and Debit Cards | Bankrate (6)

Bankrate score

Rating: 3 stars out of 5

3.0

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Bankrate review

Bankrate score

Rating: 3 stars out of 5

3.0

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Bankrate review

See Terms

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply now

on Netspend's secure site

Regular APR

N/A

Annual fee

Up-to $9.95 monthly*

Best for no credit check

2024's Top Prepaid Credit and Debit Cards | Bankrate (7)

Bankrate score

Rating: 3 stars out of 5

3.0

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Bankrate score

Rating: 3 stars out of 5

3.0

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

See Terms

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply now

on Netspend's secure site

Regular APR

N/A

Annual fee

Variable Monthly Fee

Best for building credit

2024's Top Prepaid Credit and Debit Cards | Bankrate (8)

Bankrate score

Rating: 3.1 stars out of 5

3.1

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Bankrate review

Bankrate score

Rating: 3.1 stars out of 5

3.1

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Bankrate review

No Credit History

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply now

on Self's secure site

Regular APR

28.74% (Variable)

Annual fee

$25

Compare Bankrate's top prepaid cards

Card NameBankrate's pick forFeesBankrate Review Score
2024's Top Prepaid Credit and Debit Cards | Bankrate (9)

No activation fee

Up-to $9.95 monthly*

3.0 / 5

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

(Read card review)

Apply now

on Netspend's secure site

2024's Top Prepaid Credit and Debit Cards | Bankrate (10)

No credit check

Variable Monthly Fee

3.0 / 5

Apply now

on Netspend's secure site

2024's Top Prepaid Credit and Debit Cards | Bankrate (11)

Building credit

$25

3.1 / 5

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

(Read card review)

Apply now

on Self's secure site

On This Page

What is a prepaid card?

Prepaid debit cards are similar to debit cards, except prepaid cards aren’t connected to banking or checking accounts. Instead, funds are loaded onto thecard — either online, in person at specific locations, by depositing checks or reloading with cash — then reloaded when those funds run out.

Think of them as a cross between gift cards and debit cards — they have a card number, CVV code and expiration date like debit and credit cards. They also don't usually impact your credit score, as prepaid card issuers typically don’t check your credit when you apply, and they won’t check your banking history (though this isn’t always the case).

However, you should keep in mind that most prepaid cards have fees associated with them, such as:

  • Reload fees
  • Monthly fees
  • ATM withdrawal fees
  • Inactivity fees
  • Transaction fees

Pros and cons of prepaid cards

While one of the benefits of a prepaid card is its accessibility, make sure to read the fine print before you apply. Some cards have activation fees and monthly maintenance charges, which can eat into your spending.

Pros

  • No credit check needed: People with low or no credit can practice responsible credit habits without taking a hit to their credit scores.

  • Budgeting tool: Because you’re limited to spending your deposit amount, prepaid cards make it easier to stay within your budget and cut back on monthly spending.

Cons

  • More fees than debit cards: Debit cards typically charge overdraft, monthly and sometimes ATM fees. Unfortunately, prepaid cards charge those fees on top of transaction fees, reload fees, inactivity fees and more.

  • Can’t build credit: Prepaid card issuers don’t report to credit bureaus, meaning users won’t improve their credit scores over time with this card type. Secured credit cards are a better option for people with no credit or low credit to increase their scores.

Tips on choosing the best prepaid card for you

Prepaid cards are an excellent option for anyone with difficulty accessing traditional banking services, but features vary among cards. Here are some things you should keep in mind while shopping for a prepaid card.

  • Take a look at the fees. One of the reasons many people have a difficult time accessing traditional banking services is because of the costs. If your prepaid card charges a litany of fees, such as ATM fees, monthly service fees or reload fees, you should consider if the card is worth it.
  • Know your loading options. How difficult or easy will it be to reload your prepaid card? Are fees attached? Some prepaid cards will allow you to reload your card with ACH transfers, but you’ll often reload manually at an ATM. It’s important that you have access to several ATMs in your area.
  • Make sure the card offers mobile access. Mobile banking is becoming increasingly popular, and for good reason. It’s convenient, safe and can give you peace of mind. The best prepaid cards will offer you the option to use the cards online and have access to a mobile app.
  • Consider if you’re banked or underbanked.While prepaid cards function similarly, there are significantdifferences between prepaid cards and debit cards, specifically where funds are stored, which can be a significant factor for those who are unbanked or underbanked. Prepaid cards provide several benefits to people who don’t have access to traditional bank accounts (unbanked people) or whose access to banking services is inconvenient or too expensive (underbanked people). If you’ve struggled to gain access to traditional banking services because of upfront costs (such as deposit minimums or initiation fees), a prepaid card might be the answer.

You can use Bankrate's Compare Credit Cards tool to help shop for the best prepaid card with as few fees as possible.

Bankrate Insight

Rates of unbanked people are particularly high for those in low-income households. While the U.S. average for being unbanked is around 4.5 percent, those who have an income of under $25,000 and are underbanked are 17 percent. The main reasons cited are lack of proper funds and lack of trust. Prepaid cards can be a great alternative for people facing these hurdles.

Expert advice on prepaid cards

To make the most of your prepaid card and ensure a seamless financial experience, follow these expert tips.

How to maximize a prepaid card

When it comes to managing your spending and avoiding debt, a prepaid card can be valuable. With the right features and responsible usage, you can maximize the benefits of a prepaid card while staying in control of your finances.

  • Set a goal

    Prepaid debit cards let you use plastic when shopping online or in stores without a traditional checking account. It’s great for scenarios like a parent or guardian giving a teenager a card to make purchases with a monthly budget or if you need to cut back on spending and want to set hard limits. Understand what you’re using a prepaid card for and how it can ultimately help you reach your financial goals.

  • Research and compare cards

    Each prepaid card may come with its own set of features, fees and limitations. You can find a card that aligns with your specific needs by conducting thorough research. Look for cards with low or no activation fees, reasonable transaction fees and useful benefits tailored to your requirements.

  • Set a budget

    One of the key advantages of using a prepaid card is that it allows you to set a budget and stick to it. By loading only the amount you plan to spend onto the card, you can avoid overspending and accumulating debt, so it's essential to do so with a strategic approach.

  • Strategize your reloads

    Consider your spending patterns and avoid reloading large sums unnecessarily, as it might tie up your funds or expose you to additional fees. Plan your reloads effectively. Strike a balance between having enough funds and not maintaining an excessive balance on the card.

  • Be aware of drawbacks

    Prepaid cards may not offer the same consumer protections as credit or debit cards in case of fraud or unauthorized transactions. It's crucial to review the terms and conditions the card issuer provides regarding liability protection and dispute resolution processes. As a precaution, make sure to set some money aside for an emergency or rainy day fund.

Have more questions for our credit cards editors? Feel free to send us anemail, find us onFacebook, or Tweet us@Bankrate.

How we assess the best prepaid cards

When evaluating the best prepaid cards, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from low fees to wide acceptance to earning rewards.

We analyzed the most popular prepaid card options and scored each card based on its fee structure, rewards rate and earnings, perks and more to determine whether it belonged in this month’s roundup.

Here are some of the key factors that we considered:

Frequently asked questions about prepaid cards

India DavisArrow RightEditor, Credit Cards

India Davis is an editor specializing in credit cards and updates. She believes in putting the reader first and carrying out a brand’s voice to its fullest potential. She has

Courtney MihocikArrow RightSenior Editor, Credit Cards

Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

2024's Top Prepaid Credit and Debit Cards | Bankrate (2024)

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