Cash Cards

Needless to say it has been a rough couple of years for most of the nation and in fact for much of the world. Economies have fallen, markets have crashed and oil is slowly on the rise again. It is enough to make the average person crazy! People who have always maintained their finances are now finding themselves unable to get a bank account! That is why the use of cash cards is one of the fastest rising industries in the financial world.

A few years ago people either had a banking account with a debit card and maybe a credit card or two or they had no plastic whatsoever. My how times have changed, now you can get a cash card at the gas station and be shopping online the minute you get home. The best part is unlike banking accounts you cannot overdraft a cash card, and you do not have to have a lick of credit to get one!

Speaking of credit cards, they have been the bane of human existence since their inception. Mail your payment in one day late and you are looking at huge late fees and possibly increases to your percentage rate. Before you know it you are drowning in credit card debt, and yet to rent a car or make a reservation you simply must have one.

This is another reason that cash cards have become so popular. People discovered that they could have the ability to do all of the things listed above and yet not have to worry about over the limit fees and fine print.

The only real downside to some of these cards is their fees to get started. Some of the cash card companies are charging as much as $9.95 for the card and then $4.95 per reload. Then you must read the terms over very well on the monthly fees. Unlimited withdrawals and transactions can cost up to ten dollars per month, which is much higher than a local bank. However companies like NetSpend have programs with no monthly fees and free direct deposit.

For the millions of people who can no longer get a bank account or those looking for a safe way to shop online, these cash cards may be just the answer.