Green Dot Prepaid Card Reviews

Posted by Johan Greenberg

July 29, 2010

There is always a danger that you will go overboard if you rely too much on credit cards and so prepaid cards like the Green Dot prepaid card are a great alternative. All you have to do is associate a certain amount of money with the card and then you are free to spend it without having to worry about a backlog of debt. You can spend as much as you have on the card without any hassle so this is a great choice for those new to the concept of cards. The system provided is fool proof and it can easily replace credit cards.

Attributes

Having an account in the bank is not mandatory for issuing a Green Dot Prepaid Card, therefore you are not required to waste your time, waiting for your turn at your bank. Either a credit card or an overdraft, is also not required. With the absence of penalties, you can continue spending till the assigned amount tends to become nil.

This prepaid card can be used anywhere as it is a debit Mastercard. Therefore you can avail of cash from any country with the Green Dot Card, while travelling. You can withdraw money from 15,000 ATM machines, with the help of this card, therefore it makes for varied usage.

You can withdraw as much as you want, and there is no clause for any minimum amount that you need to keep. Just procure your card, store your reserves in it and proceed to spend, irrespective of location and time. You can also make use of features like online bill-pay and direct deposit at no additional cost.

You can buy it from anywhere and it can really help you in providing a hassle free experience. You can also reload at any of the 50,000 retailers through an extremely simple and stress-free process.

Positive Attributes

The Green Dot Card incorporates all the positive attributes of a credit card while steering clear from debts and overdrafts. The reserves you are allowed to spend are essentially yours, which is suitable for the school and college going crowds also if you are a new entrant into the world of banking practices. It makes for controlled expenditure and prevents splurging.

It is also extremely easy to get started with this card as no bank account is required. Get hold of a card and pump resources into it. This service is completely free and easy to do. You can even have your paycheck directly deposited to your card and so you are assured continuous funds, just like with any bank account.

There is no minimal balance clause, ensuring that you could also use it for smaller deposits and withdrawals. Using a Green Dot card is similar to using a credit card only without the hassles usually associated with credit cards and so is a worthwhile alternative.

Disadvantages

For some the lack of an overdraft facility can be disadvantageous as it restricts your spending. In case your expenses exceed your reserves, this card might not serve the purpose.

Conclusion

With the non-requirement of bank accounts and non existence of overdraft facilities, the Green Dot Card competes well with other similar products. With most of its services provided for free, the Green Dot Card is a value for money product.

Use the Green Dot prepaid card if you want to avoid the risk of running into debt as it is a safe alternative to credit cards. This is a card which allows you to access your funds easily without risking over expenditure, which makes it a wise investment.

Like this Green Dot Prepaid Card Review? Find out where to get this prepaid credit card.

categories: finance,credit cards,debit cards,money

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