Prepaid Credit Cards
>> Wednesday, March 10, 2010
A credit card can be a very useful thing to have - perhaps sometimes a bit too useful. The temptation to buy now with a credit card rather than waiting for payday, for example, can be difficult to resist. That's why a prepaid credit card - formally known as prepaid or prepay card as it isn't really a credit card at all - may be an alternative to running up more debt or even cutting up your cards.
Why not just use money?
In our modern world it can be difficult to manage without plastic of some sort. Many of the features of our 24/7 lives are only available via cards - making purchases online or over the telephone for example or buying petrol when the shop or garage is unattended.
In fact, for purchases over a minimum amount, many shops seem to be more geared up to accept cards and may seem surprised if you try and pay by cash.
Carrying around a lot of money these days may not be the most sensible thing to do. Losing money or having it stolen typically means that there will be little if any chance of seeing it again. It's gone for good.
The financial damage caused by a lost or stolen card on the other hand can be minimised by a call to the card provider to block further transactions.
What exactly is a prepaid credit card?
As mentioned above, a prepay card is not actually a credit card at all. There is typically no debt involved - you load money onto the card and that is the limit of what you can spend.
You can credit the card using cash at any one of a number of special paying in points found in many shops and other outlets. If your card is also attached to an e-bank account then you may also be able to credit it using a traditional bank transfer. You may also even be able to have your salary or wage paid directly in.
Where can you get a pre pay card?
There are a number of online prepaid debit card providers where you can apply for a card with the minimum of fuss. Your may find that a credit check is typically not required so even if you have had some credit problems in the past you may still be able to use a prepaid card.
Why not just use money?
In our modern world it can be difficult to manage without plastic of some sort. Many of the features of our 24/7 lives are only available via cards - making purchases online or over the telephone for example or buying petrol when the shop or garage is unattended.
In fact, for purchases over a minimum amount, many shops seem to be more geared up to accept cards and may seem surprised if you try and pay by cash.
Carrying around a lot of money these days may not be the most sensible thing to do. Losing money or having it stolen typically means that there will be little if any chance of seeing it again. It's gone for good.
The financial damage caused by a lost or stolen card on the other hand can be minimised by a call to the card provider to block further transactions.
What exactly is a prepaid credit card?
As mentioned above, a prepay card is not actually a credit card at all. There is typically no debt involved - you load money onto the card and that is the limit of what you can spend.
You can credit the card using cash at any one of a number of special paying in points found in many shops and other outlets. If your card is also attached to an e-bank account then you may also be able to credit it using a traditional bank transfer. You may also even be able to have your salary or wage paid directly in.
Where can you get a pre pay card?
There are a number of online prepaid debit card providers where you can apply for a card with the minimum of fuss. Your may find that a credit check is typically not required so even if you have had some credit problems in the past you may still be able to use a prepaid card.
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