When it comes to domestic traveling, carrying around loads of cash isn’t usually a good idea. But what should you do if you don’t have—or don’t want to use—traditional credit cards?
There’s a reason that more U.S. travelers are using prepaid debit cards for their 2018 domestic travel—in fact, there are five primary reasons they do. When planning your next trip, whether you’re headed to New York City or Wyoming, consider using a prepaid debit card and give yourself one less thing to worry about.
1. Ease of use
Relying on cash can be a great way to help you stick with a travel budget, but it’s typically unrealistic. Instead, a prepaid debit card can be used anywhere Debit Mastercard® or Visa® Debit are accepted in the U.S. Plus, because you can load money to your card using direct deposit, cash, checks, or even bank transfers, you can quickly add money whenever your balance starts running low. Take out cash at an ATM when you need some on hand (view Green Dot’s simple fees here), just like you would with any debit card.
2. No worries about overdraft fees
The average overdraft fee for the big banks is $34, according to the Consumer Finance Protection Bureau (CFPB). When you’re away from home, the last thing you want is to use your bank’s debit card, only to see massive overdraft fees added on to what you’re already spending. With a Green Dot Prepaid Mastercard® or Visa® Card, you won’t be on the hook for overdraft fees, ever (see their simple fees here).
3. No need to borrow
A credit card can be used until the credit limit is reached, which may be far more money than you actually have to spend. A prepaid debit card, on the other hand, doesn’t require you to borrow money like you would with a credit card—you just spend whatever money you load to the card.
4. Safer than cash
The money on a registered prepaid debit card is protected against unauthorized transactions which means your money is protected when it counts. Plus, you no longer have to worry about losing any loose change now that you’re no longer carrying wads of cash around town!
5. Makes budgeting easy
You may have left home with a budget in mind, but it can be hard to stick with it when faced with temptations like good food or souvenirs. A prepaid debit card makes it easy to keep track of your spending so that you know exactly where every cent is going. When the money you’ve budgeted on the card starts running low, you can always add more money to it for just a small reload fee (or free with direct deposit).
While a prepaid debit card can help you manage your money when you travel, it can also be a great tool to keep your day-to-day finances on track when you’re home. Get your Green Dot Prepaid Mastercard® or Visa® Card today!