PRE PAID DEBIT CARDS: PORTABLE, SAFER AND DEBT FREE

2007-04-17 04:46:40

( Financial )



Pre paid debit cards are safer to use in purchasing goods and services. You load cash into prepaid debit cards. The amount that you can spend is limited to the amount of money that you have loaded into it. Cash, bank transfer and other credit cards load money into your prepaid debit cards.

Pre paid Debit Cards Usage

Pre paid debit cards have international recognition. Retailers and online merchants accept pre paid debit card payments for your purchases. Debit card account can also be use to pay bills and transfer load into your mobile phones. Prepaid debit cards are also use to withdraw cash from automated teller machines.

Financial Management Tool

Prepaid debit card holders have more chance of managing their finances better since they are in control on how much money they have to spend given the cash value loaded into their pre paid debit cards. You are immediately aware of the impact of your purchases on your finances in using prepaid debit cards as opposed to using credit cards. The balance of the amount of cash you loaded into your card immediately gives you feedback on how much money is available for your spending. Thus, prepaid debit cards are better innovation to eliminate reliance to credit card usage.

Easier Application Process

Purchasing pre paid debit card does not imposed credit checks and interest payments. Absence of credit checks eliminates the hassles of going through various reference checks and procuring various documents to establish credit worthiness. Absence of interest payments saves money for the card holder. Card holders will eventually be encouraged to increase their savings to afford more value into their prepaid debit cards.

Safer and Accountable

Carrying a pre paid debit card is much safer than carrying cash. This is particularly appealing to parents who prefer to provide allowance to their children using pre paid debit cards than cash. Principal holders are provides with a break down of the spending of prepaid debit cards. It provides them information on items purchased, from what establishments and time and date of transactions.

Pre paid debit cards are the newest innovation in the financial industry. It helps remedy credit card debt of households at the same time address their goal to control spending.


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