Prepaid Debit Cards Make Great Gifts!

A couple years ago I was given a $100 Prepaid Visa card as a thank you from a women's committee I'd directed. I was shocked by their generosity and the gift couldn't have been more perfect. We were leaving less than 48 hours later for a two week jaunt to Orlando to visit the Great Mouse. I didn't have much of a bank account at the time (not that I do now either!) and this debit card paid for a whole lotta snacks for me and the kids while touring the parks.

Since that experience I've realized just how valuable a prepaid debit card can be. If you give a gift card to a specific retailer, your recipient has no flexibility with where they opt to spend that gift. Perhaps they're given a gift card to a clothing store, but can't afford to put gas in their car or food on the table? Maybe they really wanted to see that concert that's nearly sold out, but the only card in their wallet is a gift card to a shoe store?

I also like Prepaid Debit Cards because they're safe. You can't overspend on a prepaid debit card. The value of the card is set and paid in full upon purchase. It's not being drafted from a bank account and cannot be used for more than it's predetermined value. It's simple to carry, simple to use, and doesn't take into account your credit history.

Green Dot is an issuer of such cards... if you've ever gifted a prepaid Visa or Mastercard, it may have been a Green Dot credit card. These cards are available for purchase at over 50,000 locations including Walmart, CVS, Rite Aid, and Radio Shack. I'm just saying... if you need a gift for someone special, it might just be as easy as going to the register at a Walmart and grabbing a prepaid gift card... which can be found right across from those candy bars and bubble gum!

In addition to gifting prepaid debit cards, some people are using prepaid debit cards to better manage their finances as demonstrated by this article in the Star Global Tribune on Financial Education. It probably feels safer than carrying cash and can help you stay true to your budget.

I'd love to recommend prepaid cards as gifts to high school graduates who plan on attending college. They may use the card to purchase furnishings for their dorm room, or books for their classes. I remember spending every cent I made the summer before college, just getting to college. That wasn't pleasant. I didn't have anything though! Oh... and back then I was making $4.10 an hour.

If you know someone getting married, they'd no doubt love a prepaid debit card to take along on their honeymoon, or perhaps to purchase picture frames for their favorite wedding photos. They may even use the debit card to help pay for the photos themselves! Or... maybe they'll use the gift card to buy and send thank you cards. That's a dying art. I have to wonder if it's partially the expense that keeps young couples from sending out thank you's?

Have you ever given a prepaid debit Visa or Mastercard? What was the occasion and what was their response? You really can't go wrong with a gift card accepted by anyone taking plastic!

 



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