Advantages of Prepaid Credit Cards


Pre paid credit cards are said to be the solution for those who got disapproved from their credit card applications. The following are benefits that one can get from owning a prepaid credit card:

Incentives

There are some that offer extra load when you refer a friend to apply to the same debit card company.

Easy application process

Everybody who wishes to apply can be legible, even those with poor credit history are entitled to apply. No background check, employment verification nor credit history check to undergo. The application procedure is lax unlike from credit card because their basis is on the money that will be deposited, so the approval is assured.

Security

Entering a credit card number on the internet can be very uncomfortable. Using a prepaid card is a lot safer because aside from already been accepted as a mode of payment online, the crooks can only get the value that has been loaded on the card. You feel secured using the prepaid card whether online or in person.

Better than cash

Bringing huge amount of cash in malls or anywhere can be uneasy. It can also be too enticing for those who have bad intentions, if they see that you’re bringing all those cash in hand. Another thing is that if your cash is lost, then it can no longer be returned back to you. But if you’re debit card gets misplaced or lost, you can still replace a new card.

Convenience

Debit cards, like credit cards, have been widely accepted anywhere: malls, grocery stores, online, restaurants and gasoline stations. You can also pay (either online or by phone) your bills such as utility bills, phone bills and other bills that you have to make. In some cases, they more accepted than credit cards.

Controlled spending

Spending is more controlled with a prepaid card because it depends on how much is the load. Compared from bringing cash, it is also easier to keep track the money when your card is used. If it’s already empty when you’re about to make payments, the transaction gets automatically declined.

Develop financial responsibility and discipline

It teaches how to use and handle money responsibly. When doing purchases on the internet, it is easier to track where the money was spent. You can see the transaction history online and you can also do it by phone. So, you can be sure that you won’t lead into any kind of debts. Overspending is impossible to be experience with prepaid debit cards because of the limited balance. This certainly is a skill that can be developed with debit card and not with credit card.

The procedure when purchasing is almost same as using a credit card. Once you’re at the cashier, you hand your card to the clerk, sometimes they ask you to sign on the receipt, then your card and the receipt is given to you. Then, you’re done. This card when used for purchasing,is not as risky as a credit card and the process of application isn’t that complication.

About the Author

Tara Tiemann is a credit analyst for Go-prepaid.com which has been a resource site for people who want to live debt free. If you are on a budget using prepaid debit cards,prepaid credit cards and prepaid cell phone service can save you big money!


About Liz Roberts

Liz Roberts is the new credit specialist for Go-Prepaid. If you are on a budget, we can get you discounted cell phone service from Sprint, Verizon and T-Mobile! NO CREDIT CHECK ! Using a prepaid services can save you a TON of money! Follow our blog to find out how!

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