How to Use Cash Cards
Doug Smith

Defined Tag: Cash Cards.

If you have cash cards, then you have credit cards that are almost as good as cash! Some debit card holders think that their cards are better than cash. Many financial institutions offer debit cards, including banks and credit card companies.

A preloaded card requires the user to add a certain amount of money to the card's account. Any purchases are subtracted from the preloaded amount. These secured cards can often be purchased from grocery stores, department stores, and gas stations. Simply select the denomination you want, and pay that amount. The cash amount on these cards may range from $5 up to more than $1000.

Cards that are loaded with cash can be used like regular credit cards, without the irritating interest payments. Most cards allow the user to simply subtract the purchase amount from the cash already on the card. Others require you to spend the whole amount at once. Be sure which kind you are purchasing! Sometimes the purchase receipt will display the balance remaining on the card. Some cards allow you to check the balance online.

Don't throw your card away when all the cash is gone, however. Some of them can be reloaded, and act much like a debit card or portable savings account. Of course, the amount of money preloaded onto the card does not earn interest. These cards are accepted wherever merchants take charge cards from the bank whose logo is on the cash card. Some cards are specific to a certain store, and can only be spent to buy that particular merchant's merchandise.

These money cards make excellent gifts, especially if you don't know what to buy. Cash gift cards seem a little classier than giving plain cash, although both will be appreciated. When buying these cards as gifts, ask about the lost card replacement policy. Some vendors will replace lost gift cards, and others will not.

These cards act much like debit cards, and allow the user to have great spending flexibility. Once you start to use cash cards for your daily purchases instead of paper money, you'll wonder how you ever got along without them.

Copyright 2008 by Doug Smith. All Rights Reserved Worldwide. Unauthorized Duplication Prohibited.