Prepaid Credit Cards – Safety Guaranteed

By ccflyers on February 17, 2009

What is an ideal credit card in your opinion? Perhaps the one that charges less interest and fewer fees, gives more funds and the feeling of safety. Well you know which side your bread is buttered on, but it is not that easy to find such a deal on the current market. Unless it comes to prepaid cards.

Prepaid credit cards could see their popularity grow by leaps and bounds, which is due to a number of reasons. First, the stressed economy and credit crunch encourage consumers to cut credit card spending and rely more on cash and other sources of funds. Second, prepaid cards are rather easy to get as they do not require the applicant to open a checking account with the bank. At the same time, they offer similar conveniences and benefits as with debit and credit cards. And the last but no less significant reason – prepaid plastic is times safer than a credit card because you have no chance of growing debt.

So, if you’re currently shopping for a bank card, let’s see why a prepaid type would be a most attractive option.

Let’s imagine you enjoy the convenience and benefits of credit without having to pay for the privilege to do so. How is it? Well, using a prepaid plastic you do not actually borrow money and you do not consequently pay any interest charges. You load the card with your own funds and spend them up, after which you are expected to load them again.

It’s clear that prepaid credit is not credit as such but it has its own advantages. You can go cashless and you can make purchases online anytime and anywhere where credit cards of Visa and MasterCard are accepted. You can make cash withdrawals at ATM home as well as anywhere abroad. Whether you make payments in USA or in Europe or anywhere else, be sure you are protected with excellent services such as emergency card replacement (if your plastic is lost or stolen), immediate cash sending and even purchase insurance. You may wonder what’ the difference between cash and prepaid credit is. In fact, there isn’t any big difference, but why not have the security and convenience of plastic, especially when you are not charged APRs, annual fees and all those penalty fees for not paying your bills on time?

As you apply for a prepaid card online, chances are you’ll be approved. In most cases there’s no credit or income check. Just load the card up to the required capacity and get access to free direct deposit, unlimited purchase power, credit bureau reporting and even cash reward program with selected card offers!

Even if you are late paying bills, you won’t make a debt on a prepaid card. That is a valuable feature for those who suffer from impulsive spending or live from paycheck to paycheck.

In the days of recession, a prepaid card seems to be a safer variant than a standard credit card. It is proved by statistics that shows the growth of online applications and increased use in online and offline stores.

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