Over the years, the best prepaid cards have been considered a staple thanks to the unbelievable convenience and ease it offers. What is even more impressive is they are very straightforward to use and won’t require expertise before you can use them.
If you have been using other plastic cards like debit and credit cards, learning how to use the best prepaid cards is a breeze. The only primary difference is prepaid cards are not associated or tied to any banks for you to be able to use them.
Just like most plastic cards, you need to use your prepaid card accordingly if you want to make it work for you. Most prepaid cardholders might not realize it but you need to know a few things to ensure you can make the most of your prepaid card.
In addition, you also need to avoid some of the most common mistakes when using your prepaid cards so you will be able to enjoy all the benefits prepaid cards have to offer:
Common Mistake #01: Writing the PIN on the Prepaid Card
While it is common sense to not write the PIN on the prepaid card, it is surprising that many people are guilty of this. Some also keep a record of their PINs in the same wallet where they keep their prepaid card.
It is ideal that you do not write your PIN on the card or give it to anyone. You will also be making it very easy for shady characters to use your card for ATM transactions and withdrawals if you write your PIN down.
Also, it is recommended that you pick a PIN that you can easily memorize and remember. Also, never share your PIN to anyone even if you trust the person so you can keep the contents of your prepaid card secure.
Common Mistake #02: Not Knowing the Terms and Conditions
If you are like most people, it is likely that you don’t bother to read the fine prints before using your prepaid card. In the fine prints (also known as the terms and conditions), you will find all you need to know so you can make the most of your prepaid card.
In the fine prints, you can also find the guidelines you need when it comes to using your prepaid card. There, you can also find the fees and other associated charges for the use of your prepaid card. That said, you need to make familiarizing yourself with your prepaid card a top priority.
Just like other plastic cards, it is crucial that you know all there is to know about your prepaid card so you can fully enjoy all the benefits it has to offer. Prepaid cards offer many peerless benefits other plastic cards don’t offer without most of the hassles associated with the card.
Another thing that makes prepaid cards stand out is you can easily obtain them without needing to submit financial documents or providing confidential data. What’s even amazing is you won’t even need to have a favorable credit score.
Common Mistake #03: Loading the Maximum Amount
While it can be convenient to load a massive amount of funds on your prepaid card, it also comes with certain risks. Loading a huge amount of funds on the card is also ideal if you don’t like carrying cash anywhere you go.
However, when you load a massive amount on your prepaid card all the time, you also risk not getting your money back if ever you lose your card or it gets stolen. That said, it would be best to examine your spending first so you can figure out how much to load.
Also, if you are going to use your prepaid card sporadically, it would be best to only load the amount you need.