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What are the benefits of a prepaid card?
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The main benefit of using a prepaid card is that you can control your spending. You can only spend what is loaded onto the card, so there's no risk of overspending or going into debt. 2 Another advantage is that it gives you access to cash when you need it most. Withdrawals from a prepaid card can be made at any time and in any amount, making it easier to manage unexpected costs. 3 Prepaid cards also offer protection against fraud. Unlike credit cards, which can be used by anyone with a valid ID, prepaid cards require an additional step for activation. This makes them more secure than traditional payment methods. 4 Finally, prepaid cards usually come with rewards such as cash back or air miles. These rewards can help you save money on future purchases.