The MG Silver Prepaid Debit Card is a great debit card. But as the name says, it is not a credit card. This means you can not use it to improve your creditworthiness. But you apply for a secured credit card too. It works similarly to a prepaid debit card: you make a security deposit to be your credit limit and use it just like a regular credit card.

Yes, it is! In fact, this is an excellent way of carrying money abroad without worrying. and to get even better, this is a Mastercard. You can swipe your card everywhere a Mastercard is accepted – which means all over the world. But remember that this is just a simple prepaid card. If you’d like to enjoy travel benefits and no foreign transaction fees, you can try your chances applying for a travel credit card.

As a prepaid debit card, there is no overdraft. Your spending limit will be equal to the amount you deposit on it. You can deposit up to R100 000, and when you spend all of it you’ll have to make another deposit. Making a new deposit is very simple. You can do it at any bank or find the nearest MG agent.

A regular debit card is directly linked to your bank checking account, and every time you make a purchase, the bank deducts the value from your account. A prepaid debit card works similarly, but you’ll have just a simpler account to make your deposits, with no fancy banking services related to it.