Introduction
Greetings, readers! Are you in the market for a credit card that comes with a little extra something? If so, you’re in luck. There are a number of credit cards available that offer a sign-up bonus, which is essentially free money that you can use to make purchases or pay down debt.
In this guide, we’ll discuss everything you need to know about credit cards with money on them. We’ll cover the different types of cards available, the pros and cons of each, and how to choose the best card for your needs.
Types of Credit Cards With Money On Them
There are two main types of credit cards with money on them:
- Sign-up bonuses: These cards offer a one-time bonus when you open an account and meet certain spending requirements. The bonus amount can vary from a few hundred dollars to several thousand dollars.
- Rewards bonuses: These cards offer ongoing rewards for everyday spending, such as cash back, points, or miles. You can redeem your rewards for statement credits, gift cards, or travel.
Pros and Cons of Credit Cards With Money On Them
Pros:
- Can get a free sign-up bonus or ongoing rewards
- Can help you build your credit
- Can make everyday spending more affordable
Cons:
- May have annual fees
- May have high interest rates
- May have spending requirements to earn bonuses
How to Choose the Best Credit Card With Money On Them
When choosing a credit card with money on them, there are a few things to keep in mind:
- Your credit score: Your credit score will determine the interest rate you qualify for and the credit limit you’re approved for.
- Your spending habits: If you spend a lot of money each month, you’ll want to choose a card that offers a high rewards rate.
- Your financial goals: If you’re trying to build your credit or pay down debt, you’ll want to choose a card with a low interest rate.
Credit Card With Money On Them Comparison Table
The following table compares some of the most popular credit cards with money on them:
| Card | Sign-up Bonus | Rewards | Annual Fee |
|---|---|---|---|
| Chase Freedom Unlimited | $150 | 1.5% cash back on all purchases | $0 |
| Discover it Cash Back | $100 | 5% cash back on rotating categories, 1% on all other purchases | $0 |
| American Express Blue Cash Everyday | $150 | 3% cash back on groceries, 2% on gas and department stores, 1% on all other purchases | $25 |
Conclusion
If you’re looking for a way to get some free money or save money on everyday spending, a credit card with money on them is a great option. Just be sure to compare different cards and choose the one that’s right for your needs.
Check Out Other Articles
- [How to Choose the Best Credit Card for Your Needs](link to article)
- [The Best Credit Cards for Bad Credit](link to article)
- [How to Build Your Credit Fast](link to article)
FAQ about Credit Cards With Money On Them
What is a credit card with money on it?
A credit card with money on it is a type of prepaid credit card that is loaded with a specific amount of money before it can be used. The money on the card can be used to make purchases or withdraw cash.
How do I get a credit card with money on it?
You can purchase a prepaid credit card at many retail stores, banks, and online retailers. When you purchase the card, you will need to load it with a specific amount of money.
What are the benefits of using a credit card with money on it?
Credit cards with money on them offer a number of benefits, including:
- Convenience: Prepaid credit cards are a convenient way to make purchases and withdraw cash without having to carry around cash or a debit card.
- Security: Prepaid credit cards are more secure than carrying cash or a debit card because the money on the card is not linked to your bank account. If your card is lost or stolen, the money on the card will not be compromised.
- Budgeting: Prepaid credit cards can help you to budget your money because you can only spend the amount of money that you have loaded onto the card.
- Flexibility: Prepaid credit cards can be used to make purchases anywhere that accepts credit cards.
What are the drawbacks of using a credit card with money on it?
There are a few drawbacks to using a credit card with money on it, including:
- Fees: Prepaid credit cards often come with fees, such as activation fees, monthly maintenance fees, and transaction fees.
- Limited features: Prepaid credit cards typically offer fewer features than traditional credit cards, such as rewards programs and balance transfers.
- No credit building: Using a prepaid credit card will not help you to build credit.
How do I use a credit card with money on it?
To use a credit card with money on it, simply swipe the card and enter your PIN. The money on the card will be deducted from the balance of the card. You can check the balance of your card online or by calling the customer service number on the back of the card.
What happens if I run out of money on my credit card?
If you run out of money on your credit card, you will not be able to make any more purchases. However, you may still be able to withdraw cash from your card, up to the limit of your card’s withdrawal limit.
Can I reload my credit card with money?
Yes, you can reload your credit card with money at any time. You can do this by visiting the website of the card issuer, calling the customer service number on the back of the card, or visiting a retail store that sells prepaid credit cards.
What should I do if my credit card is lost or stolen?
If your credit card is lost or stolen, you should report it to the card issuer immediately. The card issuer will cancel your card and issue you a new one. You will also be responsible for any unauthorized charges made to the card before you reported it lost or stolen.
Where can I find more information about credit cards with money on them?
You can find more information about credit cards with money on them by visiting the website of the Consumer Financial Protection Bureau (CFPB) or by calling the CFPB at 1-855-411-CFPB (2372).