Advantages of a Pre Paid Credit Card

2007-03-08 10:33:40

( Financial )



Nowadays, it is very important to have a credit card to make financial transactions online or over the phone. But if you don't have any credit history yet or if your credit history is bad, chances are, you can't get a credit card. It would be best if you get a pre paid credit card.

A pre paid credit card can be used in much the same way as a regular credit card. The major difference is that with a pre paid credit card, you can control your spending. You can only spend the amount that you've deposited on your card. You should get a pre paid visa card or a pre paid master card. All establishments that accept payments from visa and mastercard will accept your pre paid visa and mastercard. These cards can either be reloadable or just for one-time use.

During the holiday season, you might also want to give out pre paid gift cards. This way the recipient will be able to use it for whatever they want and it is safer to carry around than cash.

There are also pre paid debit cards available. A pre paid debit card is tied to a checking account. Your credit limit will be the amount of money that you have in your checking account. It's like having a checking account that also functions as a credit card.

Having a pre paid credit card lets you take advantage of all the conveniences associated with credit cards, like make online transactions, electronic payments and be accepted at major establishments world wide. You'll even be eligible for promotions like earning rebate points and such. At the same time, you have control over your spending. You only spend what you have and you don't owe anyone anything. There would be no interest payments, no late charges and no finance charges. With a pre paid credit card, you'll really have control over your finances.


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