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Prepaid cash back cards: A new way to manage your spending
– moneysense.ca
What is a prepaid card?
Unlike a credit or debit card, a prepaid card is loaded, by you, with money you’ve set aside to spend.
Let’s say, for example, you’ve earmarked $1,000 to spend on a new couch. With the EQ Bank Card, a prepaid reloadable Mastercard (issued by Equitable Bank with a license from Mastercard International Inc.), you could simply load that money from your savings account to your prepaid cash back card using the EQ Bank app. You’d then use your prepaid card much like a credit or debit card, but with some notable benefits.
1. Prepaid cards are an easy way to stick to a budget and prevent overspending
When you use EQ Bank’s prepaid cash back card, you can load it with whatever amount you’ve budgeted for your purchases…
Watch: 5 reasons to swap your debit card for a prepaid cash back card
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Offer Extended: 55,000 points on the RBC Avion Visa Infinite Card
– RewardsCanada.ca
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