Author: peterhutch
The following prepaid debit cards and prepaid credit cards can help you control your spending. A reloadable debit card allows you to only spend up to the amount you have pre-deposited into the account. If you tend to overspend or would like to control your spending then a pre-paid debit card or prepaid credit card could be a good card for you.
Using a prepaid credit card has many advantages over wire transfers, money orders or other agent-based money sending locations. There are no unexpected agent fees for the recipient, and no need to carry large sums of cash. The prepaid credit card can be used to withdraw smaller amounts as needed from any Visa ATM. You can add more money to the prepaid credit card online, at any time immediately.
Why go prepaid?
Getting a prepaid card can help you build your credit history. If you are thinking about buying a car or house soon, get a prepaid to start building your credit. Most prepaid cards don’t have payment due dates. If you don’t want the responsibility of making a payment on time, get a prepaid and you will never have a payment. Credit cards often have fees. Get a prepaid and never overspend you limits, spend the planned amount, and earn rewards at the same time!
What are the charges?
Card application fee - Is there a charge for opening your account? If so is money loaded onto the card so that you have a balance on the card?Monthly service charge - Is there a monthly subscription fee and what do you get for this charge? For example does the prepaid card company provide free top-ups, an online service, a helpline or other additional services for you, funded by this fee?Customer call helpline - Are you charged at premium rate, national rate or standard rate for essential calls to the company’s helpline?Credit card/cash load - Is there a charge every time you top-up and does this vary by the manner in which you top-up, for example transferring funds from a credit card or in cash at the Post Office or at a Payzone or Paypoint terminal?
No interest to pay…
There’s no interest to pay or late payment fees! Because your cashplus prepaid MasterCard only approves transactions up to the amount prepaid on the card, it puts you in control of the amount you can spend. There’s no surprises as you can use the online facility to monitor balances and transactions at any time day or night.
Benefits of Prepaid Credit Cards
Spending independence - You can use prepaid credit cards just like regular credit cards. Just find what you need, hand your card to the clerk, sign your name on the receipt, get a copy of the receipt and your card back–and you’re done.
Convenience - Prepaid credit cards can be used everywhere Visa or MasterCard is accepted-at stores, gas stations, restaurants, theaters, in the mall and online.
Budgeting - You figure out in advance how you’ll spend it: spending can be controlled by how much money is loaded. In addition, prepaid credit cards provide a simpler way to keep track of money vs. carrying cash.
Article Source: http://www.articlesbase.com/wealth-building-articles/prepaid-credit-cards-free-prepaid-credit-cards-461305.html
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