Debit cards are a great tool for living within your means, but be sure to carefully compare card fees and restrictions. Here are the features of my new Approved Prepaid MasterCard that I am most excited about.

Free Sub Accounts
Up to three different debit cards—say, for family members, travel, and business expenses—can be linked to one primary account. And all accounts are FDIC insured.

Free ATM Withdrawals
If cardholders sign up for monthly automatic deposits, they can access 35,000 Allpoint ATMs, the largest surcharge-free network in America.

Low Costs
Fees on some prepaid cards can add up to $15 or more each month, but Approved cardholders pay as little as $3 each month—and there are no extra charges to use this card for purchases.

Free Online Bill Pay
On-time bill payment is the foundation of financial responsibility, and paying bills online is free for cardholders.

While the Approved card won't immediately impact FICO scores, we're hopeful that transactions shared with a major credit bureau reveal the creditworthiness of cardholders. If we're right, then in the future, debit card users may be able to build a FICO score without having to rely on credit cards. For more information on this card, visit or

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