Americans are still feeling the effects of global recession. The economic downturn is serious and affecting people in different levels. Some suffer the fate of losing their jobs of ten years. Others fail to settle their mortgage payments and inevitably lose their most prized investments. Debts pile up while trying to make ends meet.

Americans are faced with difficult times nowadays, and they are forever looking for ways to achieve a certain extent of financial freedom. Luckily, many of them have already found the wonders of a prepaid debit card. It may not be the solution to all financial problems, but it is definitely helping people alleviate the situation a bit.

A prepaid debit card is catering to an untapped market, those people with a history of bad credit because of various reasons. Due to economic constraints, they probably were not able to settle bills on time and were written off as bad credit clients. Credit card companies frown on such clients and refuse to deal with them. Denying them a credit card is purely a business matter as these credit card agents usually just follow company protocol.

Applying for a prepaid debit card is the next recourse for these people who were denied a credit card. Companies offering these cards are more lenient when checking the viability of their customers. They really do not go through that rigorous task of investigating the credit history of a client. All they ask for basically are pertinent data they need to file as records. Personal information is usually just limited to name, age, residence and contact numbers.

To apply for a prepaid debit card, you will have to pay a registration fee, usually just a minimal amount to process your card. You may then make an initial deposit. This is up to you. Just ask the card agent if they are requiring any minimum amount for deposit or not. After that, you will be asked to sign some forms and you can then start using your debit card.

This type of card works well with a lot of its existing users. They are able to control their spending more, making sure that they deposit only what they can afford to spend. It is impossible to incur debts this way because after using up the deposit, using the card further will be futile unless they deposit anew. There are no monthly bills to worry about and no interest charges to think of.

In a way, these debit cards are ingenious in controlling the overspending tendencies of most people. It is a good discipline to practice in these hard economic times.

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