Compare Debit Cards Versus Other Options
Lets face it, more often than not these days we are using plastic instead of cash
to pay for something. Debit cards are easier to deal with. The are pretty small
and compact which is what makes them convenient. Your average credit card weighs
only 5 grams which is the same as only five $1 bills. So if you carry more than
$5 bucks on you which you most likely do then it makes sense to carry a debit card.
Certain circumstances only allow a credit card to be used for payment for something
and I'm sure most of you have been here. It's no fun when you can not get what you
need because you do not have a debit card and that no longer has to be a problem.
Now you can get those things that you need like rentals, hotels, online and over
the phone purchases, etc.
Quick Comparison Chart of Debit Cards, Checking Accounts, and Credit Cards
| |
Prepaid Debit Card |
Checking Account |
Credit Card |
| Minimum Amount to Open |
$0 |
$100 - $500 |
$0 |
| Minimum Balance Requirements |
$0 |
$0 - $1000 |
$0 |
| Monthly Maintenance Fees |
$0 - $5 |
$0 - $15 |
$0 - $30 |
| Overdraft/Overlimit Fees |
$0 |
$20-$40 |
$30-$100 |
| Free Alerts |
Usually |
Not Usually |
Not Usually |
| Get Money From ATMs |
Yes |
Yes |
Not Usually |
| Guaranteed Approval |
Yes |
No |
No |
| Accepts Direct Deposit Funding |
Yes |
Yes |
No |
| Free Balance Check |
Yes |
Yes |
Yes |
| No Hidden Fees |
Yes |
No |
No |
| Activation Fees |
$0 - $10 |
$0 - $100 |
$0 - $300 |
The values given above are estimates of some of the features that are available for different types of prepaid debit cards, checking accounts, and credit cards