Prepaid Credit Card: An Over View

A prepaid credit card offers flexibility in the use of plastic money. Debt related to credit cards is not uncommon these days. But, with the help of a prepaid credit card, you can control your expenses.

A prepaid credit card cannot be referred to as a credit card since the issuer of the card does not offer any credit. The card may be loaded either by the card holder himself or by someone else (may be an employer or a parent). A prepaid credit card carries a brand, which may include Discover, Visa, American Express or Master Card. Once the card is bought, the card can be loaded with any amount but should be within the credit limit allowed.

With the help of prepaid credit card, you can make purchases or pay bills with the money that is stored in the card. It can also be used for online shopping. Prepaid cards are also issued to minors who are 13 years or more. It mainly caters to the needs of the teenagers. No interest rates are charged on prepaid credit cards; however, a card holder needs to pay a fee for purchasing the card and monthly fees after a certain time period.

Just as it offers flexibility in the use of plastic money, it also has certain drawbacks. It is regarded as an expensive card since it attracts different types of fees. This is mainly true for the prepaid cards, which have credit card brands.

1 comment:

Devid said...

Here is lots of useful information about Prepaid travellers card also you can directly apply for money cards, travel cards and travel currency cards.

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