Would you like to rent a car using your prepaid debit cards?  Generally, many car rental companies only accept credit card for payment.  But as more and more consumers prefer to pay with their debit cards, some car rental companies are willing to accept this method of payment.  Nevertheless, you need to be smart about it.

Below are practical tips and how to use a debit card for renting a car:

1. Check the car rental company’s policy. You can check the policy of different rent-a-car companies by checking out their website or calling the customer service number.  While some companies may strictly require a credit card, some companies may have more relaxed policies with regards to payments.

2. Be prepared to wait in line. Paying with a credit card gives you the option to pay online.  However, if you want to pay with a debit card, the car rental company may require more proof to verify your credibility.

3. Ask if you can pay with your credit card. Despite what is stipulated in the policy, some car rental companies may also accept debit card payment, if you make request.  Thus, it is always worth the effort to ask if you can use your debit card.

4. Be aware of “holds” and “blocks”. A lot of merchant impose a “hold” or a “block” to the cardholder’s checking or savings account to ensure payment.  Thus, aside from the cost of the rental service, you may need to reserve extra funds in your account which will be “frozen” or put on “hold” for 1 day to 14 days, depending on the company.

5. Make sure your debit card is compatible. Some merchants only accept debit cards with Visa or MasterCard logos.  If your debit card has different logo, you may want to check first with your prospective rent-a-car company if they accept such type of debit card.

6. See to it that you have good credit. Some people may not get approved for a regular credit card because of a poor credit history.  For this reason, rental-a-car companies do a credit check before accepting a transaction.  Take note that each time an inquiry is made in your credit report, it will also show up in your file.  Too many inquiries can send out a negative impression to prospective creditors.   Hence, if you are aware that you have bad credit, you may choose to pay in cash instead of using your debit card.

7. Prepare proofs of ID. Some rental car companies may ask to see proofs of identification such as auto insurance documents or recent utility bills.  The name that appears on these documentations must be the exact name that appears on your debit card as well.

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!

Are you familiar with pre paid credit cards?  Perhaps you may notice the ads that promise instant approval for anyone- even for people with no credit history or with bad credit.  True enough, anyone can easily get a prepaid credit card regardless of his/her credit rating.  But is this type of credit card for you?

Who Should Get A Pre paid Credit Card?

While pre paid credit cards offer instant approval, it’s important to understand that these are not the same as a regular credit card.  First, prepaid cards do not provide its holders with a borrowing limit.  Second, these credit cards require the submission of a cash deposit in the cardholder’s account. Third, the cardholder can only use a prepaid credit card if there is an available balance in the account.

However, despite the limitations, those who have a problem with their credit history can use pre paid credit cards to rebuild a poor credit rating.  Through regular use of this card, the cardholder can slowly but surely build up credit history without the risk of bad debt.

Who should apply for a prepaid credit card?  If you cannot qualify for a regular credit card and you want to establish or build credit, then a prepaid card is a good option.  For parents who need to send money to their kids in college, providing them with their own prepaid credit cards is the most convenient and safest way to send and receive cash.   Travelers can also use prepaid credit cards as a safer way to pay for all their travel expenses..

How to Get A Pre paid Credit Card?

Pre paid credit cards can be acquired by visiting your nearest bank or by submitting your application online.  To get approved, the applicant must first open a deposit account and submit the minimum required payment.  The amount can range anywhere from $200 to $500 and above, depending on the prepaid card issuer.  Keep in mind that the amount of your security deposit will also determine your spending limit.

Since charges are automatically paid using the funds in the cardholder’s account, there is no need to worry about additional interest rate fees.  Nevertheless, there are other costs that can be expected such as the set-up fee, maintenance fee, transaction charges, and possible penalty fees.

Can you use a pre paid credit card for establishing credit or repairing bad credit?  The answer is yes as long as your chosen issuer offers credit reporting service to the three major consumer reporting agencies.  Before making choice, check out the complete terms and conditions of the prepaid credit card.

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!

There is an observed trend among cardholders of switching to the use of prepaid debit cards and pre paid credit cards. What could be the reason behind this switch? And what exactly could this card provide? We will discuss the answers to these questions and other related information regarding prepaid cards.

Pre paid credit cards, and their debit card counterparts, revolutionize the way people spend. Through these cards, people are able to spend only within their means. How is that possible? Well, by using these cards, cardholders are required to load cash first onto a prepaid debit card or credit card before they could use their prepaid cards for purchases, cash withdrawals and even reservations for hotel accommodations and car rental services. Once the fund loaded onto the prepaid card runs low, all future purchases and payments will be declined, and this will prompt the cardholder to load cash again to his credit or debit card.

Though some prepaid cards are known to have fees and charges, a lot of people recognize the value of switching to these cards. As we all know, a credit card holder is prone to overspending because of impulse buying and lavish shopping sprees. In the end this individual may find himself with lots of debts, which, most of the time, is very difficult to pay completely. By using a prepaid debit card, an individual could easily control and monitor his expenses on purchases and ensure that he does not fall into a debt trap.

A lot of parents are also acknowledging the importance of these prepaid cards. A growing number of parents apply for these cards and provide their teen agers prepaid debit or credit cards. In so doing, these parents are able to provide their growing kids access to plastic cards while also retaining control over the way their children spend the funds loaded onto the prepaid cards they hold on to.

But is it difficult to apply for these prepaid cards?

Well, applying for these cards is very much similar to the method used in opening bank accounts. You need to provide important documents like proof of residence, contact information and identification cards. Then you could choose any of the three platforms for applying for these prepaid cards. You could choose to apply over the phone, online or through a personal application. After applying, you will be asked to wait for the prepaid cards to arrive via mail, and once activated and loaded with cash; you could soon enjoy the benefits of your own prepaid debit or credit card.

So we hope that you have gained much insights and information regarding prepaid debit cards and prepaid credit cards.

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!

A lot of people have the tendency to get and buy products on impulse. Eventually, they find themselves regretting their sudden decision to buy or get the products offered to them. This also applies in choosing and getting prepaid debit cards and pre paid credit cards. If you want to get the right prepaid card suitable to your personal needs, you must be rational, inquisitive and diligent enough to shop around for the different prepaid card programs. But, how could you choose the right prepaid cards? To help you in this quest, this article will be providing tips in choosing and getting the right prepaid credit cards or debit cards.

Tip 1: Avoid the Costliest and Most Frequently Incurred fees. – This requires an individual to look closely at the fees and common charges imposed on prepaid debit cards. To get the right prepaid card, you need to look for cards which do not require transaction fees, charge less than $5 for maintenance fees, and charge at most $5 for loading fees. By taking these fees and charges into consideration, for sure you will be able to find a prepaid debit card or credit card that will not devoid you of much of your savings and income.

Tip 2: Look for a prepaid card program that provides an online feature of managing your credit and purchases. – A lot of credit companies and banks provide online platforms for checking and monitoring your prepaid cards. So, make sure that the card you are applying for provides this special feature so that you could be assured of knowing how you spend the money you load onto your prepaid cards and determine the status of your prepaid account.

Tip 3: Make sure that the prepaid debit card you will get is accepted everywhere. -  Make certain that the prepaid card that you select is backed by major card networks such as Visa and Mastercard. It is important so that you could be assured of having your prepaid card accepted in most Automated Teller Machines (ATM’s) and commercials stores and shops worldwide.

Use these helpful tips and soon you will be able to locate the right prepaid card that will suit your needs and provide you much convenience. By then you will realize the significance of being diligent, inquisitive and rational enough in choosing for yourself the right prepaid credit card or prepaid debit card.

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, pre paid credit cards and prepaid cell phone service can save you big money!

Parents may consider providing their kids with a cell phone to help them keep track of their whereabouts and to ensure their safety.  However, for young people, providing them with a post paid plan can prove to be risky and expensive as they may spend long hours talking on their cell phones if they are given the opportunity to do so.

In this case, parents can give their kids a prepaid cell phone so they can get in touch with them at any time of day without worrying about racking their cell phone bills.  This article tackles the advantages of a prepaid plan along with tips on how you can choose the best prepaid cell phone service for your kids and teens.

Advantages of a Prepaid Plan

When it comes to cell phones, a prepaid plan offers more flexibility and options for its users.  Since kids do not really need to make frequent calls to their friends using their cell phones, a prepaid plan is great because they can only use it on calls or texts as long as they have an available balance loaded in the account.

Prepaid call cards come in various denominations which can range from as low as $10 to $50 and up.  These call cards usually have an expiration period that lasts up to 30 days.  Once the load has been consumed or has reached its expiration date, the prepaid cell phone user must a new call card and reload to make more calls or send text messages.

Thus, parents can be still exercise control over their kid’s use of their cell phones.  More importantly, if they need to check where they are, all they have to do is call their kid from their own cell phone without taking away a single cent from their kid’s prepaid account.

Choosing the Best Prepaid Cell Phone Service for Your Kids

In comparing different prepaid cell phone services in the market, parents must consider the quality and availability of the coverage provided.  Keep in mind that unlike post paid phone plans, prepaid plans may be limited only to certain areas or States.

It is also important to check on the cost per call as well as the duration period for each reload.  Generally, prepaid phones will still be able to receive incoming calls even when there is no available balance left in the account.

However, prepaid cell phone service providers do impose an expiration period on the prepaid SIM card which means the account can be deactivated if the prepaid phone user fails to reload within the given period.  When this happens, your kid will not be able to receive any incoming call so you need to make sure that the account is reloaded on time to prevent deactivation.

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!

Are you a prepaid phone user?  Whether you are presently using a prepaid cell phone or you plan to make a switch from post paid to a prepaid plan, below are some practical tips on how you can save your budget:

Get a prepaid plan that’s right for you. There are different types of prepaid phone plans depending on the service provider.  To get the most savings, you need to choose a plan that best complements your lifestyle and needs.

If you are still in the process of searching for a prepaid phone, check out cell phone review websites.  These sites have online comparison tools that allow you to see what each plan offers side-by-side.  Carefully consider your priorities when doing comparison.

Do not overload. Prepaid call cards come in various denominations from $10, $20 to $100 and higher.  When buying call cards, remember that these cards have expiration period when they have been loaded to your account.

Once you load it to your account, all the remaining balance you did not consume will be lost after the expiration date.   Hence, you should never load a very large amount of call card unless you are sure that you can use it down to the last second.

Have an extra call card on hand. Unlike a post paid plan where you can call or text anytime and worry about your bill at the end of the month, a prepaid plan has a disadvantage.  It can be annoying when you find that you have used up all your available balance and you need to make a call or send a text message at that exact moment.

Trying to look for a store that sells prepaid call cards or a reloading station can be a hassle.  Even worse, you may not find a place to reload your cell phone right away.  To avoid being in this situation, it is advisable that you bring an extra call card with you wherever you go.  This way, you can simply scratch the card and reload the balance to your account to continue using your phone.

Get to know your provider’s terms. Even though it’s prepaid and you are not required to sign any contract, it is still worth the step to get to know your prepaid cell phone service providers terms of service.

Which areas or cities can you expect available coverage?  What types of handsets are compatible with your chosen carrier?  How much does the carrier charge per minute of call or per text message?  What other phone features are provided?  Make sure that you are clear about the types of service you can get before buying your prepaid cell phone package.

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!

One great attraction about prepaid debit cards is that you don’t have to worry about interest rates. Since you are not given a credit line and you pay for your bills using the available cash you deposited, you will not incur additional APR costs.

Nevertheless, owners of debit cards must be cautious about the possible penalty fees associated with their prepaid card use. What you thought was a $50 worth of purchase may suddenly cost you $80 or more due to the extra costs. What are these penalty charges?

Below is a list of debit card fees to watch out for:

Negative Balance Penalty. You can only use your debit card for payment as long as you have an available balance in your account. However, there are instances when your bill may exceed just a little over your available balance. In this case, your transaction may still be accepted but you will be charged with a penalty fee.

Decline Charge. Again, prepaid debit card holders are not allowed to overdraw. Hence, if you try to make a purchase that is way too large than your available balance, your transaction will usually be declined and you will be penalized for trying.

Daily Limit Penalty. Some prepaid debit card issuers impose a limit to the amount of transaction you can make each day. Going beyond that could mean additional penalty fees.

Inactivity Fee. Not using your debit card within a specified time period may also cost you additional charges.

Customer Service Charge. Some Issuers may not provide assistance for free. Other may provide one free live customer call each month but may charge a fee for corresponding calls (may range from $0.50-$2.00 per call) So before calling your debit card’s hotline number, check how much you will be charged.

Account Termination Penalty. Are you planning to close your account? If yes, your debit card Issuer may penalize you for terminating their service ($15 or more).

Card replacement. If you lose your debit card, there is usually a fee to ask for a replacement card. Visa and MasterCard may charge you $10 for this.

ATM Balance Inquiry. Do you want to inquire your balance? Watch out! Checking from your nearest ATM may cost you anywhere from $0.50 to $1.00, depending on your debit card type.

Currency Conversion. Currency conversion rates are not just applicable to regular credit cards but to prepaid debit cards as well. Hence, before using your prepaid card abroad, check the currency conversion rate. For instance, Visa Prepaid Debit Card charges 2% while MasterCard Debit Card charges 2.95% currency conversion rate from the total amount of purchase.

Choose and Use Your Debit Card Wisely

Just as it is important to check the fine print before signing for a credit card, you also need to do some investigation when choosing a debit card. More importantly, you need to familiarize yourself with your privileges and limitations to avoid spending more on penalty and maintenance debit card fees. Even though it is far easier to get a debit card, take the extra effort to read the Terms and Conditions.

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!

For people who have a bad credit history and cannot qualify for a credit card, a preloaded card is the answer.  Prepaid cards look exactly like any regular credit card except that it is easier to get a prepaid one.  In this article, let’s discuss the advantages and disadvantages of using a prepaid credit card.

Prepaid Credit Card Advantages

Easy Access. Because no credit check is done, anyone can get a reloadable prepaid card at any time.

Budget Friendly. Do you have a problem with overspending?  With pre paid credit cards, spending can be put in control more strictly since you can only use it if you have an available balance in your account.  Once your available funds have been used up, the card must be reloaded with cash before it can be used again.

Avoid Bad Debt. A prepaid card does not provide a credit line so the risk of incurring bad debt can be avoided.  There is no need to worry about paying the interest rate or late penalty fees which can cause debt build-up.

Convenience. Reloadable prepaid cards are great for people who are always on the go.  If you’re a frequent traveler, you can simply take your card with you instead of bringing a huge amount of cash.  Parents who have college kids who stay at boarding schools can send allowance though prepaid cards.

Prepaid Credit Card Disadvantages

Although there is no interest rate or late penalty fees, there are other costs associated with reloadable cards that you should watch out for.  Find a prepaid card with reasonable fees by checking out comparison websites online.  What are the costs that you should know about?

Upfront Fee. Although no credit check is required, most Issuers require the submission of an upfront payment.  Sometimes the fee is known as “application fee” or “activation fee”.

Maintenance Charge. Prepaid cards usually carry an annual fee.  However, aside from the annual fee, you may also be charged with a monthly maintenance cost or “service charge” to keep your account active.

Reloading Charges. Some Banks may impose an additional fee each time you make a deposit in your prepaid card account.  In this case, it is a good idea to find a prepaid debit card Issuer that will not charge a reloading service.

Purchase Fees. Generally, there is a purchase fee for each transaction you make.  It does not matter whether you made the purchase from a regular store or online.  You can still be charged a minimal fee  for every purchase.

Card replacement and renewal fee. In case you lose your prepaid card, there is a fee when you request for replacement.  Also, the issuance of a prepaid card is often good only for a certain time period.  When your card expires, you must pay a fee for the card renewal.

Yes, there are advantages with using pre paid credit cards.  However, before getting one, consumers must make sure that there will be no hidden costs or unreasonable charges associated with their chosen card.

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!

Getting a prepaid debit card is easy, there is no question to that.  However, despite the convenience of getting a debit card, consumers must still spend time comparing and shopping around before making a choice.  Why?  Although you don’t have to worry about interest rate fees and late penalty fees, there are other costs that you need to be aware of.

Basic Fees Associated with Prepaid Cards

Activation Fee. Activation fees can range from $9 to as much as $100, depending on the issuer and the type of prepaid card.

Negative Balance Fees. Normally, debit cardholders are not allowed to overdraw.  However, there are cases when your bill can exceed your available balance, and you will be charged with a negative balance fee.

Decline Fees. Since overdraw is not allowed, your transaction will be declined if you try to use your debit card for payment without sufficient balance in your account.  However, you can get penalized with decline charges.

Daily Limit Fees. Some issuers impose a daily limit or a maximum amount of charge per day.  Thus, once you reached that limit, your transaction can still be declined even if you have existing funds in your account.

Cash Advance Charges. You can withdraw cash from your debit account using an ATM.  However, you can also incur cash advance charges.

Reloading Fees. If you reload your debit card by making a direct deposit, no extra fees shall be charged.  However, if you try to reload using other services, you may incur an additional reloading charge.

Additional Charges. Some gas stations, restaurants, hotels and car rental service who accept debit card payment may impose a “hold” or extra charge on your bills.

ATM Balance inquiry. There can be a minimal fee of $1 or less each time you check your balance from the ATM.

Maintenance Fees. Some prepaid card issuers charge a monthly maintenance cost, aside from the yearly activation fee.

Inactivity Charge. You may also get penalized if you fail to use your debit card on any transaction for more than 60 days.

Customer service Fee. Before calling your debit card’s Helpline, make sure that you understand the possible fees you can incur.  Not all issuer provide a free helpline.

Transaction Charges. Most prepaid debit card issuers will charge you an additional cost for each transaction you make- be it offline or online.

Account termination fee. If you want to close out the account, you can be charged with a termination cost as well.

Card replacement. In case of lost, you must pay a fee if you request for a replacement.

Card renewal. Your prepaid card will expire after a certain period (usually three years or longer).  After that period, you will pay an extra fee for requesting a new card.

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!

Plastic money or credit cards became very popular over the years. However, not everyone can qualify a credit card that easily, especially those with no credit history or with bad credit. Fortunately, there is another option and that is to get a prepaid credit card.

Prepaid Credit or Debit Cards for Everyone

Issuers of prepaid debit cards give everyone the chance to use plastic money without going through a complicated approval process. Unlike standard credit cards that require good credit history, credit check is not necessary to get a debit card. All that is required is an advanced deposit which will be used for payment.

Just like a regular credit card – you can use it when buying groceries, shopping at malls, paying utility bills, or purchasing from online stores. As long as you have available funds in your account, you can use it to pay for your charges.

Prepaid Debit Card Limits

What makes a prepaid card different from a real credit card? First, we must understand that a debit account does not come with a credit line. Each time a debit card is used for payment, charges are instantly paid off using the deposit in the cardholder’s account.

For instance, if you have made a $300 deposit, you can only use your debit card for charges up to $300. If you want to continue using it for more, you must make a new deposit in your account.

Prepaid Debit Card Advantages

Generally, prepaid debit cards are accepted anywhere credit cards are accepted. Most merchants allow both credit and debit card payments. This is especially true if your prepaid card bears the Visa or MasterCard logo.

Prepaid debit cards are great for people who are often on the road or on trips abroad. Instead of bringing a large amount of cash, they can use a debit card for most of their travel expenses. Students can also benefit from prepaid debit cards since it prevents them from incurring bad debt. For parents, they can conveniently send cash to their kids through their prepaid accounts. Even employers who hire home based employees or freelancers can use a prepaid debit card to send wages or service fees.

Although some people may frown at the thought of not being extended a credit line, those who want to control their spending will find this limitation as a blessing. And because you are not allowed to go over your limit or to pay at a later time, extra fees such as interest rate, overdraft fees, late penalty fees, and other credit card surcharges are completely eliminated.

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!