Pre Paid Holdings (fka PrepaYd, Inc.)

[sweetpepperjam]

What are the pros and cons of prepaid debit cards?

The advantages of prepaid debit cards include being safer than carry cash, worldwide functionality due to Visa and MasterCard merchant acceptance, not having to worry about paying a credit card bill or going into debt, the ability for anyone over the age of 18 to apply and be accepted without regard to credit quality and the ability to reload with any amount of money online, over the phone or at any ATM worldwide.

The disadvantages include the fact that you don't have the luxury of using a credit card bank's funds for 25 days for free (but you could also look at that as an advantage, too). Another is if the card is lost or stolen Visa and MasterCard have much stricter notification requirements than with a credit card.

All in all the advantages of prepaid debit cards usually outweigh the disadvantages – especially for those individuals that don't have access to standard credit cards due to lack of credit history or because their credit rating is less than perfect.

http://www.creditcards.com/Pros-and-Cons-of-Prepaid-Debit-Cards.php