Several types of prepaid debit cards are available in today's credit market. These offer many of the conveniences of a regular credit card but without some of the risks. One of the options currently available is the ACE Visa Prepaid Debit Card. It is worth your time to investigate this option before applying for it. Here is an overview to get you started.
How it Works
The first step involved with an ACE Visa Prepaid Card is to fill out an online application. There is no application fee for the card, and there is no obligation for the customer either. Once you get the card, you can start loading money onto it.
When you have money loaded into your account, you can begin to use the ACE Debit Card in the same way that you would use a regular credit card. It is accepted at any place that takes Visa. Online shopping, filling up for gas, booking hotel reservations or renting a car are activities that can all be done with this Card.
After you make a purchase, the amount is subtracted from the balance on your card's account. When it hits zero, you will not be able to use the card until you load more money onto it. Loading money on to the card can be done through direct deposit at no extra charge.
Advantages of the ACE Visa Prepaid Debit Card
Some of the features that come with the ACE Card include no overdraft fees or minimum balance requirements. This means that you can carry whatever amount that you want to. And the card is set up so that you cannot spend more than you have in your account. This provides a safety net for you, the user, and helps you avoid heft over the limit fees that come with many credit cards.
There is no charge for direct deposit with this card. If you have your paycheck deposited into the ACE account and then take out money from an ACE Cash Express location, there is no charge for withdrawals. The ACE Prepaid Debit Card also provides protection from unauthorized transactions if your card is lost or stolen.
Disadvantages of ACE Visa Prepaid Debit Card
While the ACE Debit Card is accepted in places that take credit cards, it does not let you borrow money and carry a balance that you pay off each month. Also, if you want to rebuild credit, this card will not automatically cause your score to rise. You can use it to help you become more responsible and financial savvy, but you cannot depend on it for a complete turnaround on your credit record.
How to Decide if the ACE Visa Prepaid Debit Card is for you
If you are considering applying for the ACE Visa Prepaid Debit Card, the first step is to head online. Read through the fine print listed with the card. If it seems like an option that will fit your lifestyle, fill out an online application. You'll receive a reply quickly and will soon be able to start using your new prepaid debit card.