Know when a reloadable prepaid credit card is right for you
There are tons of reasons to have a prepaid credit car, including the safety of not having cash, the convenience of a credit card without a credit check and staying away from NSF and check cashing fees. Read on to learn more.
Wait! What is a prepaid credit card? You pay in advance to get credit? Nope! It’s really a debit card that works like a credit card (the peeps in the know call it a prepaid debit card, not a prepaid credit card). Here are the top 5 reasons to get a prepaid credit card (uuhhmm……prepaid debit card). #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’re dumb enough to write your ATM PIN on the card, no one can steal your money from your card. Both Visa and MasterCard have a zero liability policy. 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 got the jones for 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….unless you’re dumb enough to get a prepaid card that allows you to overdraft.
#3: You can’t get a credit card anymore
If you're stuck in credit card debt, a prepaid credit card might be right for you. It works like a credit card, but without a credit check. 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 don’t matter what your credit is.
#4: Say good bye to check cashing fees
Most prepaid cards allow you to have your pay 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 don’t matter if you’re in chexsystems.
#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.
Copyright © by Prepaid Debit Cards: Articles, Reviews & Discussions All Right Reserved.
