The good reason using a prepaid or debit card because certain card services provider with no credit check or prior bank account such as Visa,Debit Mastercard,and many more.
Example The Visa Reloadable Prepaid card is a Visa card you load with your own money to make purchases everywhere you want to.When using a debit or prepaid credit card, It’s more safer than carrying a cash and will help you to manage your finances very well. Convenience Of This Cards.
Easily make purchases everywhere,usually debit cards are accepted—in-store, online, or by phone.
Pay bills, make travel reservations and buy gas at the pump.
it also available at thousands of retail locations.
Get cash from ATMs worldwide.
When using it,no need to carry large amounts of cash. You only use what you load in a card,that means you can control you cash and learn to save a money and how to manage your financial.And many more benefits and privillage when using this kind of prepaid or debit cards.
For this post i’ll tell about the positive and negative while using the prepaid Credit cards.Many Provider giving the great offers when using their credit or prepaid cards services.But as a consumer we need to know a little bit about pro and cons when using prepaid card for purchasing.
The Good and Bad While Using Prepaid Cards.
. By using this prepaid card, they usually will not offer credit card convenience without the difficult approval process or risk bear the debt. This card functions similar gift card, you only need to make a cash deposit account (direct deposit is usually available) before you can use it to purchase anything.
Prepaid cards instead of credit card, you may not spend more than the balance of your store and you will not be charged any interest for your spending. Pre-paid account will be reported to credit bureaus as a credit card
Good:
• Easy to approve, no credit required
• The same fraud liability protections as a standard credit card
• Easy to use for online or phone purchases
• Access cash from ATM machines
• Less expensive than check cashing services
Bad:
• High fees while opening and maintaining the account
• Very limited, if any, reporting to the credit bureaus
• Does not help to improve your credit the same way a credit card or secured card would
• Much more expensive than opening a checking account and using an ATM card
for more detail please visithttp://prepaid-credit-card-for-you.blogspot.com/
by Mohd Shahrul
Written by shahrul
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