Debit / Credit / Prepaid Cards

Debit Cards

If you opened a checking account, chances are you were offered a DEBIT CARD (also known as Bank Card or Check Card).  Debit cards are linked directly to your checking account and usually to your saving account only through the ATM (Automatic Teller Machine).  Debit cards can be used just like cash and it eliminates the need to write a check for purchases.  The biggest advantage of a debit card is the convenience and security it provides because checks can be easily stolen.

To learn more about Debit Cards please visit:

Practical Money SkillsDebit Cards


Prepaid Cards

If you do not have any credit or want to begin rebuilding your credit PREPAID CARDS are a good place to start.  A prepaid card is loaded with your money, allows you the conveniences of a credit/debit card, and builds your credit history with every transaction and payment.

Prepaid cards offer you several advantages:  

  • They are available to everyone
  • You don’t need a bank account
  • You can’t go into debt
  • You’re always in control  

To learn more about Prepaid Cards please visit:

Practical Money Skills  – Prepaid Cards – Pros and Cons of Prepaid Cards

Credit Cards

Credit cards are a means to officially establish your financial footprint in the world, but you must choose wisely.  Here are a few things you should consider: your spending habits, the interest rate, your credit limit, fees and penalties, how the balance is computed, and incentives.

Don’t choose a credit card just because they offer you a sign-up bonus, a discount at your favorite store, or promises there will be no fees, no catches or gimmicks.  Here are a few things to consider before choosing a credit card.  Sign-up bonuses never last as long as your credit card and annual fees can add up if you have a credit card for a long time, so choosing the credit card that’s best for you is very important.  REMEMBER: Store cards ALWAYS offer the highest interest rate possible and offer a lot of promises so don’t believe the hype.

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