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Bottom Line Up Front

  • Prepaid cards are a great way to manage your spending. You control how much money to load, so you know how much you’re spending.
  • Use prepaid cards to set a budget for all your spending needs—from rent to groceries to entertainment. They’re also a great tool to help teens learn money management.
  • Enjoy all the convenience and security of a debit card.

Are you looking for a simple budgeting tool to help manage and track spending? A prepaid card may be the solution for you. A prepaid card provides the convenience and security of a debit card. But because you set the amount, you can easily see and manage how much you're spending. Here’s what you need to know about prepaid cards and how to use them to your advantage.

What Is a Prepaid Card?

A prepaid card is a reloadable card that provides a secure and convenient way to pay. Use it online and in stores wherever debit cards are accepted. That’s millions of locations worldwide!

Benefits for Your Budget

Prepaid cards could give you more control of your spending because you decide how much to load on the card—so you know exactly how much you’re spending. At the same time, you enjoy flexible features to help you get ahead financially. Here are some of the perks of using prepaid cards:

  1. Set spending limits. Use a prepaid card as a budgeting tool with a preset spending limit. For example, you could use a prepaid card for your grocery expenses for the month. Set the amount you want to pay for the month, load the card, and use it for all your grocery purchases throughout the month. Setting a spending limit in a certain category helps you easily manage your spending and see where your money is going.
  2. Encourage financial responsibility for teens and college students. Load a prepaid card for your child instead of using a debit card to pay for expenses at home or school. You and your child can track purchases with a mobile app* and online. It’s easy to check the card balance and reload the card online or by phone.
  3. Track your travel expenses. A prepaid card is safer than carrying cash when taking a trip. It's also a convenient way to make purchases when you’re on vacation or traveling for work. You can set a budget for your spending while on vacation and keep track of expenses on the go.
  4. Enjoy peace of mind with card protection. Your Navy Federal card is protected by our Zero Liability policy.

Cards Designed for You and Your Family

If you’re looking for a convenient way to manage spending with a reloadable card, learn more about our prepaid card options.  

This article is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.