What are the pros and cons of pre-paid debit cards?

Question

What are the pros and cons of pre-paid debit cards?

Answer 1

They are convienent to use and then you don't have to worry about carrying around money if you don't have a debit card of your own.  I work with Teens and when we go on long trips, I suggest pre-paid cards over cash.  We see less kids losing money or having it stolen.  The cards are also pretty easy to keep track of your balance.

1 bad thing:  I used one once and cause it didn't have an open ended credit line, I could not use it to buy gas.  I had to pump my gas then go inside and pay for it after the total was set instead of using the card at the pump.

Answer 2

The only thing good out of it is if they really do insure your funds if they are lost or stolen.  This is also the lead into there being no more paper money.....What a way to save the environment.