Reloadable Prepaid Credit Cards
Top 5 Reasons to Have One |
By Ram P |
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What is a prepaid credit card? You pay in advance to get credit
Nope! It's a debit card where you first put money on the card and
then can spend only as much as is left on the card. You can shop
online, book tickets, do your groceries and withdraw cash with a
prepaid credit card. It's really a debit card that works like a
credit card. People call them prepaid credit cards because they look
like a credit card, act like a credit card and have a visa or master
card logo on them. Reload able prepaid credit cards allow you to add
money to your card every time you run low.
#1: Safety of
not having cash
Prepaid cards are safer than cash. If it's
stolen, you can get a replacement card. And, unless you help the
crooks by writing your ATM PIN on the card, no one can steal your
money from your card. Both Visa and MasterCard have a zero liability
policy, which helps you recover money when there's an unauthorized
charge. And since it's not tied to your bank account, there's only
so much a crook can get.
#2: Budgeting, no more finance
charges
If you can't control your shopping and rack up fees
on your credit card or keep getting hit on the head with NSF fees,
you may want to come this way. You can spend only what you put on
the card, nothing more.
#3: You can't get a credit card
anymore
It works like a credit card, but without a credit
check or checking account. Prepaid credit cards have a Visa logo or
MasterCard logo on them. They work just like credit cards. You can
shop online, get hotel rooms and gas with them. Since they're
prepaid, it doesn't matter what your credit is.
#4: Say
good bye to check cashing fees
Most prepaid cards allow you
to have your pay or government benefits sent directly over to your
card. Walk across to an ATM and take out cash. Works much better
than standing in line at a check casher! And it doesn't matter if
you're in chexsystems or don't have a checking account.
#5: Financial lifeline for your kids
Get your children a
prepaid credit card. You'll be able to restrict how much they spend
and will know what they're spending money on. And if they're out of
town and in a bind, you can load money on the card and they'll be
able withdraw cash from an ATM immediately.
If you think a
prepaid credit card is right for, do some research on the different
prepaid cards available. You can read
reviews of prepaid credit cards, other articles and discuss
prepaid cards at prepaidcardforum.com |
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