The Best Debit Cards of 2012
The best debit cards of 2012 seek to provide you with many of the benefits of credit card use without the risk of going into debt. In 2011, many banks attempted to impose new fees on debit card users or take away some of their debit card benefits. As a result, many of the best debit cards of 2012 are not tied to large banks, such as JP Morgan Chase, Bank of America or Citibank. Instead, the best debit cards are prepaid debit cards and those offered by smaller, independent banks and credit unions.
Suze Orman Prepaid Debit Card
Financial guru Suze Orman’s new debit card will be introduced in 2012. The card, which costs $3 and has a $3 monthly fee, carries the MasterCard logo. In addition to only being able to spend money that is preloaded onto the card, users of the card receive free access to their TransUnion credit report and free ATM use at Allpoint ATMs. While the card has a lot of benefits, it also comes with a lot of fees for special services, so if you choose this debit card, be sure to familiarize yourself with these fees in advance to keep from accidentally spending extra money.
Walmart MoneyCard
As debit card users move away from debit cards from traditional bank, the Walmart MoneyCard is poised to gain users in 2012. Users of the card may sign up for direct deposit and have their paychecks directly added to their card. While users must pay an initial fee and a $3 reload fee, that fee is waived when the card is reloaded by direct deposit or with a payroll or government check. Users may choose a card with a MasterCard or Visa logo and receive liability protection from MasterCard and Visa. E-mail and text alerts also make it easy for users to monitor their spending and check their balance.
Perkstreet Financial
Perkstreet Financial offers one of the most talked about debit cards of 2012. Designed to help users save money, this MasterCard protected and FDIC-insured debit card offers users cash back on all purchases. Users receive two percent cash back on all non-PIN purchases for the first three months and if they maintain a balance of at least $5,000. After the first three months, all purchases earn one percent cash back and the chance to earn five percent cash back through deals that change throughout the year. Money is easily added to the card from an existing bank account with another bank. Users receive a free Perkstreet checking account, a free book of checks and multiple other benefits.
RushCard
Promoted by hip-hop mogul Russell Simmons, the Rush Card is designed to offer users an alternative to traditional bank debit cards. This prepaid debit card has no monthly fees and charges minimal fees for activities such as ATM withdrawals and online bill pay. Direct deposit is also free with the Rush Card. The card carries the Visa logo and comes with Visa liability protection to keep your money safe. Users have the ability to set savings goals through their debit card account and track their progress online, earning refunded fees for saving money each month.
