Get Control of Your Spending With a Pre-Paid Debit Card

Disclosure: The following is a sponsored post.

Some folks just aren’t any good with their money. Cash burns a hole in one gal’s pocket, while another can’t stop whipping out her credit card for every purchase. Shopping and spending opportunities bring out the worst in people who can’t control their finances that well.

Paying cash is noble, but it’s oh-so-easy to use your bank’s debit card or go to the ATM and take out more money than you should, resulting in overdraft fees after your account has dwindled. And putting purchases on credit cards instead of paying down the debt leads to inflated interest charges and higher minimum payments.

So what’s the solution? Instead of carrying your ATM card, cash or credit cards, look into pre-paid debit cards. ACE Cash Express has been offering its services for more than four decades, and the pre-paid debit card option has been popular with customers looking to get control of their spending — you can’t spend any more money that what is already loaded onto the card, making it an attractive alternative to credit cards and traditional bank debit cards. For those with less-than-stellar credit who can’t get a credit card or don’t have bank accounts, it’s the next best thing.

And some cards benefit nonprofit organizations. ACE Cash Express donates a portion of the monies from card sales and transaction fees of its Pre-Paid Pink Debit Card to breast cancer research — last year, the company gave $350,000 to the National Breast Cancer Foundation.

Reasons to use a pre-paid debit card:

  • It’s the same as cash and can be used anywhere Visa debit cards are accepted, including at ATMs, online, and over the phone.

  • The balance is FDIC-insured, as long as the pre-paid debit card is registered.

  • You can’t spend any more than what is on the card, saving you from overdraft fees.

  • Free direct deposit — your paychecks or benefit payments can be directly added to the card balance.

As with any debit card, always ask about any fees, such as those for activation, PIN or signature purchases, maintenance, inactivity and phone payments. Each card is different, so be sure to read the fine print.

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