Using A Prepaid Credit Card

Submitted by: Tom Tessin

The prepaid credit card is easy to use and accepted everywhere. The user knows exactly how much money is available on the credit card and cannot overspend. The card has been loaded with money by the user from their bank account and you can add more to it at anytime. This card is especially appreciated by those who are on pension checks as well.

Why Use a Prepaid Credit Card

Many people are trying to keep a budget and not go over by putting a large of charges for frills on a credit card. The prepaid credit card can help you do just that. You can be happy using your card because you know that you are not going into debt. Keeping a budget is very important and when you are doing just that and still using plastic most spenders will let you know that is real joy. The average person on a pension check such as social security knows that keeping a lot of cash is not advisable and many places do not like accepting a check that is why a prepaid credit card is most acceptable.


The advantages of a Prepaid Credit Card

The prepaid credit card makes it so much easier when you are trying to make purchases, airline reservations, hotel reservations, or reservations for restaurants. Many people need that accessibility but do not want to use a credit system that cost. Today with the economy the way that it is a large charge account is not advisable instead having a Prepaid Credit Card gives you a much bigger advantage.

When looking for a prepaid card, you re going to find that many of them have activation fees, or some sort of fees. Just because you look at the first few cards, and they all have fees, doesn t mean that they all are going to have these fees. There are plenty of cards out there, depending on the bank issuer that has no fees at all.

How do they make money without the fees?

The reason that some banks can make money without the fees is because they can charge the merchants, instead of getting a double dip, where they will charge both of you, the consumer, and the merchant.

As of today, there are hundreds of prepaid cards out there. As long as you look for a card that has a major logo, and it s going to be accepted at every place you shop, you should be okay with finding one. Just make sure that you look for a card that offers either rewards, or if you re looking for one that builds credit, those are around as well. While those are rare, you can find one that will help rebuild your credit.

Prepaid credit cards are a great way to manage your spending, as well as know where all your money is going. Unlike a credit card, where you can spend freely and not know how much is going on, this is a great way to say no to debt for life.

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